TPG Capital to buy MDA property information subsidiaries

Investment firm TPG Capital will buy the property information businesses of MDA in a $850 million deal expected to close late this year or early in 2011. The acquisition includes Marshall & Swift/Boeckh, or MSB, which provides building information to the property and casualty insurance sector. It also includes MDA Lending Solutions, a provider of settlement services to lenders; MDA DataQuick, a real estate data analyzer; and MDA MindBox, a leading technology provider that streamlines customer and back-end workflow. “MSB has achieved outstanding growth working with MDA and now looks forward to continued success while partnering with TPG,” said Salil Donde, CEO of MSB. Mike Dealy, president of MDA Lending Solutions, said the acquisition of the lending solutions arm should set the stage for future growth. “The acquisition of our business by TPG Capital reaffirms the strength of our business model and our leadership as a service provider in the real estate lending market,” he said. TPG Capital, formerly known as Texas Pacific Group, is a global private investment firm with $47 billion of capital under management. “We are very excited about investing in these high-quality property information businesses. MDA and the respective management teams have done an excellent job growing these companies. This investment fits very well within our broader data services portfolio, and we look forward to working with management in the U.S., Europe and Canada to continue growing these businesses,” said Bryan Taylor, a partner at San Francisco-based TPG Capital. Bank of America Merrill Lynch acted as the lead financial adviser to MDA in connection with the transaction. BMO Capital Markets was retained to provide financial advice. Write to Kerry Curry.

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