Capstone Partners’ Financial Advisory Services (FAS) group provided transaction advisory services to Residential Warranty Services (RWS or the Company) during its acquisition by Porch Group, Inc. (the Buyer).
Residential Warranty Services is a national provider of home warranty insurance products and services to home inspectors, including software and marketing services distributed through its real estate agent and home inspector channels.
The company engaged Capstone’s investment banking team to provide sell-side advisory services, who then reached out to the Capstone Financial Advisory Services (FAS) group to provide transaction advisory services as well as additional deal execution support.
“This particular engagement is a good example of the value of working with a firm like Capstone Partners that has the capability to offer advisory services in addition to investment banking,” said Adam Brissette, a Director in Capstone’s FAS group. “In this case, the business owner was a serial entrepreneur with numerous healthy, but entwined businesses, operating through a single corporate structure. When he decided to pursue a liquidity event, Capstone’s bankers brought the FAS team in to help evaluate options and we immediately suggested a carve out of the warranty services component, RWS. Ultimately, we created the financial documentation that helped delineate the entity that would be sold and supported the banking team in executing a successful transaction with Porch Group.”
The Capstone Partners team that provided financial advisory services and worked on the transaction included Jim Calandra, Adam Brissette, and Khelan Dattani.
Seattle-based Porch Group, Inc. (NASDAQ: PRCH), a leading vertical software platform for the home, provides software and services to more than 24,000 home services companies such as home inspectors, mortgage companies and loan officers, title companies, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, warranty, moving, security, TV/internet, home repair and improvement, and more.
