Willkie represented Covius, a portfolio company of Aquiline Capital Partners, in the transaction.
On June 4, Covius Holdings, a leading provider of technology-enabled solutions to the financial services industry, announced it has entered into a definitive asset purchase agreement to acquire certain businesses from Chronos Solutions, including its credit, flood, income and tax verification services, government services, REO management and disposition, online foreclosure auction and homeowners association (HOA) tracking units. Coppell, Texas-based Chronos Solutions is a national technology enabled real estate financial services provider delivering elite mortgage and real estate services across the industry.
These businesses will complement Covius' extensive offerings in document management, loan modification and loss mitigation, title, compliance management, lien tracking, valuations, due diligence and business process workflow services. Upon closing, the combined company will have a broad range of products spanning the mortgage, real estate and financial services lifecycle and a customer base of more than 5,500 clients.
Covius is a trusted provider of services, insight and technology to leading financial companies. Covius' technology-enabled solutions deliver operational efficiencies, mitigate risk and empower confident, compliant decisions and borrower interactions. Covius Holdings is owned by Aquiline Capital Partners, a New York and London-based private equity firm investing in financial services and technology.
The Willkie team was led by partners Jeffrey Poss and Robert Rizzo and associates Thomas Sharkey and Michelle Bai.