Baker Hill Announces Agreement to be Acquired by Flexpoint Ford
6/21/2023 1:03:56 PM
Partnership to accelerate Baker Hill's growth trajectory, positioning the company for success amid strong market demand from financial institutions for lending and risk management solutions
Baker Hill (the "Company"), a provider of cloud-based, end-to-end loan origination, risk management, and analytics software, today announced that Flexpoint Ford ("Flexpoint"), a private equity firm specializing in investments in the financial services and healthcare industries, agreed to acquire the Company. Baker Hill is a portfolio company of The Riverside Company. The transaction is expected to close pending receipt of customary regulatory approvals.
Through the partnership, Flexpoint will support Baker Hill's continued success and its expanding client base, building on the Company's record revenue growth in 2022. The Company will gain access to Flexpoint's resources, including an experienced team with extensive knowledge of financial technology, and capital to fund ongoing product innovation and acquisitions. Furthermore, Flexpoint's experience investing in banks provides it with insight into the needs of this client segment, which will enhance the Company's ability to innovate to serve the needs of its bank and credit union customers. Baker Hill's President and CEO, John M. Deignan, and the existing leadership team will continue to lead the business and remain shareholders in the Company.