Serent Capital, a San Francisco and Austin based private equity firm focused on investing in high-growth technology and services businesses, announced that its portfolio company Docutech, a leading provider of document, eClose and fulfillment technology for the mortgage industry, has been acquired by First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions in a $350 million deal.
Founded in 1991, Docutech provides innovative solutions that are widely used by lenders across the U.S. and have contributed to the industry’s evolution toward a digital real estate closing experience.
“Over 3 years ago, we partnered with Serent with the goal of growing our products and reaching more customers,” said Ty Jenkins, Founder and former Chairman of Docutech.”We’ve been able to deliver on that vision by building an exceptional relationship with the Serent team and have strengthened the company for its next chapter of growth.”
“Serent has played an instrumental role in enhancing Docutech’s growth over that last few years,” said Amy Brandt, CEO and President of Docutech.“Serent helped us accelerate our go-to-market sales operation, strengthen our products and customer delivery, and expand the executive team. We have been able to capitalize on our momentum in the mortgage lending market while also driving continued profitability.”
“Docutech has spent nearly 30 years becoming a trusted leader in mortgage document solutions,” said Lance Fenton, Partner at Serent Capital.”They’ve built an outstanding team and continue to deliver the best-in-class products and services to the mortgage industry. We are honored to have been a part of their journey to their next growth milestone.”
Raymond James and Kirkland & Ellis served as advisors to Docutech.