Class Valuation, a nationwide appraisal management company headquartered in Troy, has been acquired by Gridiron Capital, an investment firm in Connecticut. Terms of the deal were not disclosed.
Class Valuation focuses on providing regulatory compliant appraisals to large mortgage lenders and originators. Gridiron says it will support Class Valuation’s management team as it continues to focus on growth and innovation in the residential valuation services industry.
“We plan to leverage Gridiron’s extensive experience investing in technology-enabled business services to remain at the forefront of the home valuation industry,” says John Fraas, CEO of Class Valuation.
Gridiron is acquiring Class Valuation from Narrow Gauge Capital in Boston, which will retain minority ownership in the company.
“Gridiron Capital has extensive experience investing in similar business models that utilize technology to compete more effectively, and we are confident this partnership will position Class Valuation for further growth and continued long-term success,” says Tom Burger, managing partner at Gridiron Capital.
Technology developed by Class Valuation uses analytics and data to assess appraisal accuracy and regulatory compliance.
Class Valuation was founded in 2009.