Private Equity Firm Acquires Online Mortgage Lien Release Tracking Company
February 25, 2014
L2 Capital, private equity firm, completed the acquisition of reQuire LLC, an online lien release tracking and reporting service for the real estate settlement services sector. Terms of the deal were not announced.
“reQuire’s patent-pending process provides a unique opportunity to redefine lien release compliance in all residential real estate transactions,” said Bob Levine, managing partner of L2 Capital. “Unreleased liens create headaches for all parties involved, and the number of liens that remain unreleased a year after a residential closing is astounding. We are looking forward to supporting organic and external growth through further penetrating the U.S. market and leveraging the company’s defensible market position with additional products and services.”
reQuire’s web-based software has tracked, reported and obtained lien releases associated with paid-off mortgages and lines of credit for over one million liens.
“Bob and the entire L2 Capital team are the perfect match for reQuire,” said Daniel Morris, CEO of reQuire. “Their experience, contacts and resources, as well as their hands-on operational and strategic support, constitute an unbeatable investment partnership.