Industry Briefs Sept. 1, 2023
Guild Mortgage Buys First Centennial Mortgage
Guild Mortgage, San Diego, a mortgage lending company that originates and services residential loans, acquired First Centennial Mortgage, Aurora, Ill., a privately held residential mortgage lender. The terms were not disclosed.
First Centennial Mortgage was founded by brothers Steven and David McCormick in 1995.
“We continue to effectively execute our strategy to grow and gain market share through acquisitions where there exists a strong cultural match and the potential for value is present for both parties,” said Terry Schmidt, CEO of Guild. “In today’s market, good companies are coming together to do great things where the whole is stronger than the sum of its parts. First Centennial has high-performing local teams with a history of steady growth, and the Guild platform should allow them to accelerate growth and supercharge the good work they are already doing.”
Capacity Acquires Denim Social and LumenVox
Capacity, St. Louis, announced the acquisitions of Denim Social, St. Louis, and LumenVox, San Diego.
Capacity is an AI-powered support automation platform, and said its acquisitions will help fuel its transformation from a self-service, single-channel tool to an omnichannel support and engagement automation platform. The Capacity platform now offers a complete solution across web, voice, SMS, email and social media.
Denim Social is a software provider that will allow Capacity users to launch proactive social media campaigns to reach customers.
LumenVox is a speech and voice technology provider and works with customers to build self-service and customer-agent interactions.
The terms of both transactions are confidential.
KSL Capital Partners to Purchase Hersha Hospitality Trust
KSL Capital Partners, Denver, will be acquiring Hersha Hospitality Trust, Harrisburg, Pa.
The entities have entered into a definitive merger agreement, under which affiliates of KSL will acquire all of the outstanding common shares of Hersha for $10 per share in an all-cash transaction valued at approximately $1.4 billion. The purchase price represents a premium of approximately 60% over Hersha’s closing share price on Aug. 25.
“Hersha and its team have built an impressive, curated portfolio of experiential luxury and lifestyle hotels and resorts in strategic markets. With KSL’s extensive track record investing in high-quality assets in dynamic metropolitan markets across North America and around the world, we are uniquely suited to position the business for further success over the long term,” Marty Newburger, Partner at KSL, said.
