With more than $140 million in annual fee income, StreetLinks is one of the country’s largest independent appraisal management companies, providing a comprehensive suite of valuation services and technology solutions for the mortgage banking industry.
According to the companies’ announcement, Assurant acquired StreetLinks for approximately $60 million in cash, plus a potential earnout payment based on future performance. The company expects the transaction to be accretive to earnings in 2015.
“This acquisition is a natural extension for Assurant Specialty Property,” said Assurant president and CEO Gene Mergelmeyer. “We are a leader in insurance, preservation and other services for the mortgage industry, and StreetLinks is a leader in valuation solutions and technologies used by lenders and appraisers nationwide.”
“Assurant and StreetLinks share a like mindset, particularly when it comes to innovation and commitments to quality and service, which presents numerous opportunities for us to shape the ever-changing appraisal industry together,” added StreetLinks president Tom Hurst. “We are thrilled that Assurant has chosen StreetLinks and are honored to be joining the Assurant team.”
StreetLinks will retain its brand name and will continue to be based in Indianapolis.