PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
Private equity firm Flexpoint Ford is set to acquire Baker Hill, a cloud-based loan origination, risk management and analytics software company, for an undisclosed sum.
Baker Hill is to be acquired by Flexpoint Ford
Founded in 1984 and based in Indiana, USA, Baker Hill operates a single platform Software-as-a-Service (SaaS) solution for consumer, commercial and small business loan origination, with risk management functionalities built in throughout the lending process. It is a portfolio company of The Riverside Company, a global investment firm.
Through the acquisition, Baker Hill will receive support from Flexpoint in serving its growing client base, as well as access to Flexpoint’s resources including an experienced fintech team and capital to fund product innovations and acquisitions.
Baker Hill’s president and CEO, John Deignan, and the existing leadership team will continue to lead the business and remain shareholders in the company.
Commenting on Baker Hill’s acquisition, Arjun Thimmaya, managing director of Flexpoint, says: “The company’s growth is a direct result of the differentiated software it provides to over 400 financial institution clients.
“We will continue to support the management team’s goal to enhance the platform’s capabilities through investments in product development and acquisitions.”
The transaction is expected to close following customary regulatory approvals.
Founded in 2005 with offices in Chicago, Illinois and New York, Flexpoint Ford specialises in investments in the financial services and healthcare industries and claims to manage approximately $7.5 billion in regulatory assets.
