– Troy, Michigan-based AMC Class Valuation has acquired fellow AMC Valuation Connect
– The acquisition aims to strengthen Class Valuation’s position in the appraisal marketplace
– The terms of the deal were not disclosed
– The companies share core values in terms of client support and service
– The collaboration will accelerate the development of appraisal technology and provide added value to customers
– The incorporation of Valuation Connect into Class Valuation’s infrastructure will ensure a seamless transition for clients
– Class Valuation has been actively acquiring other AMCs in recent years
– The company aims to broaden the availability of products and services to existing clients through these acquisitions.
Troy, Michigan-based appraisal management company (AMC) Class Valuation announced on Wednesday that it has acquired fellow AMC Valuation Connect, formerly a subsidiary of mortgage technology company Mortgage Connect LP.
Class Valuation acquired the company to bolster its position in the appraisal marketplace further, according to an announcement of the deal. Terms of the deal were not disclosed.
“We are beyond excited to be partnering with Valuation Connect,” Class Valuation CEO John Fraas said in a statement. “We share a core value in that we are not afraid to roll up our sleeves to help our clients win. Combining forces is going to be a win-win for all stakeholders.”
According to Class, the two companies align on important issues, including culture, service, efficiency and technology development.
“Given their market dominance in wholesale, their investment in digital and modernization products, combined with Valuation Connect’s technology and centralized retail presence, we feel this combination will add tremendous value to our combined customers,” said Jeff Coury, CEO of Mortgage Connect.
“This collaboration will allow us to accelerate the development of cutting-edge appraisal technology and deliver unmatched value.”
The incorporation of Valuation Connect into the Class Valuation corporate infrastructure will ensure “a seamless transition” for clients, with the company claiming it will help broaden the availability of products and services to existing clients of both organizations.
Class Valuation has been on an acquisition spree. In early 2022, the company acquired Detroit-based AMC Metro-West and its subsidiary Valuation Link. At the time, Class Valuation claimed Metro-West was the “largest independent residential appraisal firm in the country,” and had appraisers in 80 U.S. metro markets.
In 2021, operating as Class Valuation, the company acquired Pendo Management in Kansas City.
Property Chomp’s Take:
On Wednesday, Class Valuation announced its acquisition of Valuation Connect, a fellow appraisal management company that was previously a subsidiary of Mortgage Connect LP. The terms of the deal were not disclosed. The acquisition aims to strengthen Class Valuation’s position in the appraisal marketplace, according to their announcement.
The CEO of Class Valuation, John Fraas, expressed his excitement about the partnership, stating that both companies share a core value of helping clients succeed. He believes that combining forces will be beneficial for all stakeholders involved. The two companies align on important factors such as culture, service, efficiency, and technology development, which further supports their collaboration.
Jeff Coury, the CEO of Mortgage Connect, also expressed his optimism about the acquisition. He believes that the combination of Class Valuation’s market dominance in the wholesale sector and their investment in digital and modernization products, along with Valuation Connect’s technology and centralized retail presence, will bring tremendous value to their combined customers. The collaboration will also accelerate the development of cutting-edge appraisal technology, delivering unmatched value.
The incorporation of Valuation Connect into Class Valuation’s corporate infrastructure will ensure a seamless transition for clients. The company aims to broaden the availability of products and services to existing clients of both organizations, enhancing their offerings in the appraisal marketplace.
This acquisition is part of Class Valuation’s ongoing expansion strategy. In recent years, the company has made several notable acquisitions, including Metro-West and its subsidiary Valuation Link, AppraisalTek, PropertyVal, Landmark Network, and Janus Valuation & Compliance. These acquisitions have allowed Class Valuation to strengthen its position in the appraisal industry and expand its presence in different markets.
In 2021, the company acquired Pendo Management, further contributing to its growth and diversification. With each acquisition, Class Valuation has been able to leverage the strengths and expertise of the acquired companies to enhance its overall capabilities and provide better services to its clients.
Overall, the acquisition of Valuation Connect by Class Valuation is a significant move that will bolster their presence in the appraisal marketplace. By combining their resources, technology, and industry expertise, the two companies aim to deliver unparalleled value to their clients and achieve mutual success.