CPE News (10/23/2020) – Stone Point Capital LLC, in partnership with management, has acquired Lone Wolf Technologies from Vista Equity Partners. Financial terms were not disclosed.
Vista Equity Partners in partnership with Lone Wolf’s founder, Lorne Wallace in 2015, and made a follow-on investment in 2016.
Jefferies LLC and GCA Advisors, LLC acted as financial advisors to Lone Wolf and Vista, and Kirkland & Ellis LLP served as legal counsel. Debevoise & Plimpton LLP served as legal counsel to Stone Point Capital.
Cambridge, Ontario based Lone Wolf Technologies is a leading provider of residential real estate software, serving over 1.4 million real estate professionals across Canada and the U.S.
photo credit: Lone Wolf Technologies
News Release
Lone Wolf announces strategic investment from Stone Point Capital to accelerate growth
CAMBRIDGE, ON – October 23, 2020
Investment will further enhance innovation and expand offerings to market
Lone Wolf Technologies (“Lone Wolf”), the North American leader in residential real estate software, today announced that funds managed by Stone Point Capital LLC (“Stone Point”) will become Lone Wolf’s lead institutional investor, powering the next phase of the company’s growth. Stone Point was attracted to Lone Wolf because of the company’s reputation as a leader and innovator in the real estate services industry, its track record of growth, and its future prospects. The Lone Wolf management team will remain with the company to execute on its strategic roadmap and continue to create a seamless digital experience for real estate brokers and agents throughout North America. The deal marks an exit for leading global technology investor Vista Equity Partners, which first invested in Lone Wolf in 2015 in partnership with Lone Wolf’s founder, Lorne Wallace, and in 2016 made a follow-on investment in the business.
The real estate industry is undergoing digital transformation as legacy manual processes and disparate systems transition to fully connected digital experiences. These trends are further spurred by the COVID-19 pandemic, with real estate professionals requiring digital tools to provide first class experiences for buyers and sellers. Lone Wolf leads the way, offering the industry’s only end-to-end digital experience through transaction management tools, Marketplace partnerships, and back office products.
This investment by Stone Point empowers Lone Wolf to continue transforming real estate technology by enabling the acceleration of innovation with a mission to simplify the real estate experience for all. Stone Point’s expertise in real estate services and technology will help Lone Wolf streamline the end-to-end experience for agents and brokers, enabling them to deliver unparalleled experiences to their clients and members. Stone Point will provide Lone Wolf with additional growth capital to accelerate organic and inorganic product development.
Over the past five years, Lone Wolf has significantly expanded its product portfolio beyond its flagship back office solution to encompass forms and transaction management through the national member benefits in the U.S. and Canada, Transactions (zipForm Edition) and CREA WEBForms®, respectively. The company has also incorporated new and emerging technologies such as artificial intelligence and machine learning with the launch of Lone Wolf Insights, while its most recent offering, Lone Wolf Marketplace, brings together over 30 partners to provide an all-in-one platform for agents and brokers. Collectively, these solutions now serve more than 1.4 million agents, 8,000 brokerages, and hundreds of MLSs and associations across North America.
“We’re excited to work with the team at Stone Point to continue our strategic growth,” said Jimmy Kelly, CEO of Lone Wolf. “Stone Point’s investment aligns with our vision to create a truly connected, fully digital real estate experience. We are thankful for the partnership and leadership of Vista Equity Partners over the last five years, and we remain committed to serving the real estate industry going forward.”
“We are enthusiastic about the long-term opportunities within the real estate services and technology industry,” added Chuck Davis, Stone Point’s CEO. “This industry is undergoing rapid digital transformation, and we are pleased to partner with Jimmy and his colleagues, who together have built a remarkable company and have demonstrated the vision to continue to grow and better serve their clients.”
Terms of the transaction will not be disclosed. Jefferies LLC and GCA Advisors, LLC served as financial advisors to Lone Wolf and Vista, and Kirkland & Ellis LLP served as their legal counsel. For Stone Point, Debevoise & Plimpton LLP served as legal counsel.
About Lone Wolf Technologies
Lone Wolf Technologies is the North American leader in residential real estate software, serving over 1.4 million real estate professionals across Canada and the U.S. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits—from transactions to back office, insights, and more, all in one place. Lone Wolf’s head offices are in Cambridge, ON and Dallas, TX. For more information, please visit www.lwolf.com.
About Stone Point Capital LLC
Stone Point Capital is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $26 billion. Stone Point targets investments in companies in the global financial services industry and related sectors. For more information, please visit www.stonepoint.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $58 billion in cumulative capital commitments. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn @Vista Equity Partners.
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For further information, please contact:
Kate Annis
VP, Marketing
Lone Wolf Technologies
Tel. 866.279.9653
E-mail. kannis@lwolf.com