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LRES Corp. has signed a definitive agreement to acquire Keystone Asset Management Inc., the companies announced Monday.
LRES Corp., a diversified REO/asset management & valuations company based in Orange, Calif., said the agreement to acquire Pennsylvania-based Keystone Asset Management Inc. is expected to close by Sept. 1, 2021. The joined companies will operate under the LRES Corp. brand.
"Keystone has been a well-known and respected player in the REO/asset management business as well as the appraisal and valuation businesses for over 20 years.
We know the management team well and have admired their growth, innovation, and resiliency. It was an easy decision to join forces," said LRES CEO Roger Beane.
Keystone Founder Jane Hennessy said she and Beane had discussed “for a long time about finding a way to align forces,” and said they are both “delighted” to have achieved a deal. “LRES brings an additional layer of Tier One delivery capabilities. It is an exciting time for our team,” she said.
Keystone CEO Ryan Hennessy said he has known the LRES team for many years. "The two companies have a lot in common, have had a great working relationship over the years, and present a formidable solution to the REO and valuation ecosystems,” he said.
The acquisition of Keystone complements LRES' continued drive to expand its servicing solutions channel and the customers it serves. "Keystone brings with it tremendous talent and technology capabilities," LRES President Mark Johnson said. "An exciting byproduct of this union is that we now have a talented team located in the Eastern time zone."
Based in Lansdale, Pa., Keystone provides property valuations, REO asset management, property tax consulting, property preservation, and insurance services. To learn more, click here.
Founded in 2001, LRES Corp. provides property valuations, REO asset management, HOA, and commercial trustee solutions for the mortgage and real estate industry. For more on LRES, click here.