Renovo Capital Acquires RealtyTrac Inc.
Renovo Capital, LLC through its Renwood Opportunities Fund, has acquired substantially all the assets of RealtyTrac, Inc. Renwood Opportunities Fund provided capital to the company, now named Renwood RealtyTrac, to reduce debt, increase working capital and fund growth as the company expands existing business lines and pursues new business partners.
Founded in 1996, RealtyTrac, Inc. is an online marketplace of residential foreclosure data, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting millions of unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.
“This is an exciting time for the company,” according to Brandon Moore, the new CEO of RealtyTrac. “The combination of introducing new leadership to energize the company, along with the addition of available capital to invest across the business, effectively positions RealtyTrac to continue its leadership role as the go-to source for foreclosure information. Renwood’s ownership, in partnership with Rosewood and its real estate expertise, provides an outstanding platform for RealtyTrac to build upon its mission to make the transacting of real estate easier for consumers, investors and real estate professionals alike.”
Renwood Opportunities Fund is managed by Renovo Capital and Rosewood Private Investments. Renovo Capital is a private equity firm whose primary focus is on operating turnarounds, bankruptcy reorganizations, debt purchases and out-of-court restructurings for companies in manufacturing, distribution and business services. Rosewood Private Investments is the private equity arm of The Rosewood Corporation, a prominent family-owned company with diverse, worldwide operations and investments.
For Additional Information, Contact: Mark Barbeau, Manager Renovo Capital: [email href = Mark.Barbeau@renovocap.com] Mark.Barbeau@renovocap.com[/email]