ABS GROUP OF COMPANIES
March 10, 2014 - Newton, MA
Morgan Partners, an independent middle-market investment bank serving the financial technology sector, today announced its role as exclusive financial advisor to ABS Group of Companies on its sale of EQECAT, Inc. to CoreLogic, Inc. (NYSE:CLGX).
"Our divestiture of EQECAT to CoreLogic was an important transaction," said David Weinstein, President and CEO of ABS Group of Companies. "The team at Morgan Partners was top-notch. Their meticulous, hands-on approach and tremendous depth of knowledge in all facets of our business allowed us to successfully achieve our objectives. With their leadership, we were able to close the deal within a very aggressive timeline."
CoreLogic discussed the EQECAT acquisition in their Q4 2013 earning call.
EQECAT was founded in 1994 and is headquartered in Oakland, California. The Company is dedicated to being a trusted advisor to insurance, reinsurance, and financial clients, enabling them to successfully manage their business risk due to catastrophic events. EQECAT is committed to providing clients with practical, state-of-the-art catastrophe risk modeling products and consulting services. Its RQE® (Risk Quantification & Engineering) catastrophe risk modeling software platform enables clients to quantify and manage the potential financial impact of natural hazards.
CoreLogic is a provider of property information, analytics and services. The Company provides detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The Company operates in three segments: data and analytics, mortgage origination services and asset management and processing solutions.