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Shelter Mortgage Completes Previously Announced Sale to CIVC Partners, LP

Milwaukee based Guaranty Bank announces the completion of the sale of Shelter Mortgage Company, LLC to funds managed by CIVC Partners, LP and the renaming of several branches across the country to reflect the company’s new ownership.

 
PRLog - Feb. 4, 2013 - MILWAUKEE, WI – Shelter Mortgage, formerly an operating subsidiary of Guaranty Bank, was officially acquired January 18 by the private equity firm CIVC Partners.  One of the first actions management took under the new ownership was to establish a more consistent brand identity.  As a result, the majority of branches throughout the country, including those operating as Guaranty Mortgage (WI), Guaranty Northeast Mortgage (PA) and GB Shelter Mortgage (AZ, FL, NV and TX) will now take on the Shelter Mortgage name. Branches operating as Carolina One Mortgage (SC) and SugarTree Mortgage (VT and NH) will continue operating under those brand names.

Established in 1984, Shelter Mortgage is a leader in mortgage partnerships, working with real estate companies, homebuilders, community banks and relocation companies to create an in-house lending solution.

"We’re excited about entering this new phase with CIVC, a firm that understands the financial services market and has a record of helping management teams drive growth,” said CEO Jill Belconis.

Beyond the name changes, which took effect January 18 under Shelter’s new owners, Shelter will be able to provide more options to homebuyers and greater efficiencies throughout the home buying process.

“Our customers will be served by the same employees, with the same personalized service they’ve always received, but with greater access to more diverse mortgage products” Belconis said. “Moving forward, we remain committed to offering a wide selection of mortgage programs and ensuring a hassle-free lending process for homebuyers.”

CIVC has been investing in the financial services sector for over 20 years and has significant mortgage banking experience having successfully invested in the sector on three previous occasions.

“CIVC is pleased to complete our investment in Shelter Mortgage.  Jill Belconis and her team have built a strong platform in the mortgage industry via a differentiated, partnership-based origination model, focus on purchase money originations, and a compliance-oriented culture.” said Dan Helle, a partner at CIVC.  Marc McManus, a principal at CIVC added, “We believe Shelter Mortgage is uniquely positioned to take advantage of the recovering housing market.  We have tremendous confidence in the Shelter Mortgage team and are excited for the next phase of the company’s growth.”

About Shelter Mortgage
Shelter Mortgage is a national home loan provider and a pioneer in mortgage partnerships. Shelter works with real estate companies, builders, community banks and relocation companies to offer mortgage financing as part of their businesses, allowing them to offer a convenient one-stop experience for both home buying and home financing. For more information, visit www.shelter-mortgage.com (http://www.shelter-mortgage.com/).

About CIVC Partners
CIVC Partners is a Chicago-based private equity firm with over 20 years of private equity experience. CIVC has completed 53 platform transactions and dozens of add-on acquisitions since 1989. CIVC currently manages over $1.3 billion in private equity funds and is investing out of CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.

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Contact Email:
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Source:Shelter Mortgage
Phone:800-981-8139
Zip:53209
City/Town:Milwaukee - Wisconsin - United States
Industry:Mortgage, Finance
Tags:Shelter Mortgage, CIVC, sale, Mortgage Partnerships, name changes
Shortcut:prlog.org/12071535
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