A day after Edge Home Finance announced a strategic investment from the private equity firm Presidio Investors, new details have emerged about how the deal came together — offering a clearer view into the growing competition for mortgage broker platforms.
True North Mergers & Acquisitions, a Minneapolis-based advisory firm, said Thursday that it served as the exclusive financial advisor to Edge in the transaction, which it described as the result of a “disciplined, competitive process” that drew interest from multiple buyers.
The disclosure indicates that Edge, a brokerage platform with more than 1,200 loan officers, engaged with multiple potential partners before selecting Presidio.
“Edge attracted strong interest from multiple buyers, and Presidio stood out as a partner with the vision and resources to scale the platform,” said Kirill (“KG”) Graminschi, vice president at True North.
The firm said it employed its QuietAuction process, a structured approach designed to generate competitive tension among bidders while allowing company founders to weigh both financial and strategic considerations.
Edge’s co-founders, Chris and Chantel Hacker, emphasized that the decision extended beyond valuation.
“We built Edge to empower loan originators and create a platform that puts them first. Choosing the right partner for the next phase was critical. True North helped us navigate the process and identify a partner in Presidio that shares our long-term vision,” Chris Hacker said.
“This business represents years of hard work and relationships. True North understood what mattered beyond price and helped us find a partner who values the culture we've built. We are excited about what lies ahead,” Chantel Hacker added.
Under the terms of the deal, Edge will continue to operate with its existing leadership team and platform. The investment from Presidio is expected to support growth through expanded spending on technology, infrastructure, and acquisitions.
“Presidio brings the technology vision and strategic guidance to expand our reach and elevate service delivery,” said Tom Ahles, president of Edge Home Finance.
“Edge Home Finance's platform and broker-focused approach align with our vision for growth. Together, we aim to expand the platform and deliver an enhanced value proposition to loan originators,” said Victor Masaya, partner at Presidio Investors.
Advisors on both sides of the deal included several law firms and accounting providers. Sell-side legal counsel was provided by Lathrop GPM LLP, while Kirkland & Ellis LLP and Orrick, Herrington & Sutcliffe LLP advised Presidio. Accounting and quality-of-earnings work was handled by multiple firms, including Redpath and Company, CohnReznick Advisory LLC, and CLA (CliftonLarsonAllen LLP).
“Selling a lower middle market company is about helping founders unlock value and position the business for its next phase,” said Michael Hubsmith, president of True North.
While Edge’s leadership has said the company’s broker-focused model will remain intact, the involvement of private equity and the competitive nature of the sale suggest that such platforms are also becoming financial assets in an evolving market.
