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April 21, 1999

CIVC Partners Invests in Factual Data Corp.

CIVC Partners (CIVC), a $500 million private equity fund affiliated with Bank of America, announced that it has led an investor group in making a $15 million investment in Factual Data Corp. (NASDAQ: FDCC, FDCCW.) Factual Data is a leading national provider of credit reporting and other customized information services to the mortgage and consumer lending, employment, and real estate rental markets. CIVC partnered with BCI Advisors and Marshall Ventures LLC to complete the transaction, which was managed by Piper Jaffray.

Daniel Helle, Managing Director at CIVC remarked, "Factual Data's position as one of a select few vendors approved for both FNMA and FHLMC automated underwriting systems that will allow it to benefit from the tremendous projected growth in the use of automated underwriting for mortgages. In addition, the company's strong technology platform and information systems will allow Factual Data to provide high service levels, unparalleled functionality and dependability to large mortgage banks and local mortgage brokers, distinguishing it from its competitors."

Explained Jerald H. Donnan, President and CEO of Factual Data, "With the additional capital provided by CIVC, we can continue to pursue our growth strategy through an ambitious industry consolidation plan. From August 1998 through January 1999 we completed 11 acquisitions in the mortgage credit reporting industry, resulting in trailing twelve months revenues of approximately $17 million. With the $15 million capital infusion from CIVC, the company has already completed three acquisitions with trailing twelve months revenues of approximately $10 million, which brings Factual Data's annualized run rate revenues to approximately $34 million."

"As the industry evolves toward more sophisticated services, many of our smaller competitors are approaching Factual Data as a potential acquirer or partner, recognizing our leadership in products and technology," continued Donnan.

According to CIVC's Helle, "We view our investment as a strategic partnership with Factual Data. CIVC's successful investment experience in the mortgage and financial services industry - as demonstrated by First Franklin Financial and Sunbelt National Mortgage - will allow us to contribute meaningfully to Factual Data's strategic direction."

Added Donnan, "CIVC can draw upon its contacts to bring new business relationships to Factual Data. In addition, CIVC's experience with consolidating industries will prove invaluable as Factual Data pursues its acquisition strategy."

Factual Data is one of several financial services investments by CIVC Partners. CIVC's portfolio includes investments in RAM Reinsurance, a financial guaranty reinsurance company; MCG, Northwest, an executive benefits consulting firm; and First Franklin Financial, a subprime mortgage lender.

CIVC Partners is a $500 million private equity fund whose sole limited partner is Bank of America. CIVC Partners, with 30 years of experience in private equity investing, provides growth capital to middle market companies with a focus on business services, financial services, media and communications, and industrial growth.

Press Contact

Patty Walker
CIVC Partners, LP
191 North Wacker Drive
Suite 1100
Chicago, Illinois 60606
Telephone: 312 873 7300
pwalker@civc.com

 
 
CIVC PARTNERS: 191 N. Wacker Drive, Suite 1100, Chicago, IL 60606 | © 2017 CIVC Partners. All Rights Reserved.|CIVC PARTNERS: 191 N. Wacker Drive, Suite 1100, Chicago, IL 60606 | © 2016 CIVC Partners. All Rights Reserved.