TVC Capital LLC, a private equity firm based in San Diego, announced Tuesday it has acquired a majority stake in Research Triangle, the company that develops reverse mortgage software solution ReverseVision. The deal is all cash and includes an equity purchase in Reverse Documents, a document preparation company focused on the reverse mortgage industry.
ReverseVision is a reverse mortgage loan origination system that serves more than 100 banks throughout the U.S. and has more than 50% market share in the space, according to a company statement.
“Over the past eight years, ReverseVision grew from a small start-up to become the market leader in reverse mortgage origination technology,” said Thomas Martignoni, founder of ReverseVision. “The company has an outstanding team and a proven and scalable technology platform. With many new projects in the pipeline, the company is well positioned to continue its technological leadership. It is a great honor that we can partner with TVC Capital.”
As part of the transaction, John Button, who previously served as chief operating officer for TVC entity Del Mar Datatrac, has been appointed president of the companies. Button brings many years of experience in the mortgage technology space including his work with Del Mar Datatrac, a “forward” LOS. Martignoni will continue working alongside the new management.
“I am very pleased to have the opportunity to work with the ReverseVision team and all of its customers,” said Button. “ReverseVision has achieved a high level of service and support. It’s an honor to help the team continue and expand that high performance.”
Jeb Spencer, co-founder and managing partner of TVC Capital, added that the new leadership plans to continue to innovate in the reverse mortgage space.
“We plan to maintain the high level of focus on both meeting and anticipating customer need with advanced technology solutions,” Spencer said. “We feel a great sense of responsibility in assisting our lenders as they work to help seniors to stay in their homes and age in place.”
Terms of the deal were not disclosed.
