– Positions DIMONT for increased growth and expansion –
DALLAS, March 14, 2016 – DIMONT, a leading provider of specialty insurance and loan administration solutions to the residential and commercial financial services industries, announced an investment from Renovo Capital, a Dallas-based private equity fund. In partnership with a veteran management team, Renovo Capital’s investment enables DIMONT to continue to grow and innovate, while benefitting from Renovo’s sector expertise. Renovo Capital also owns RealtyTrac and Homefacts.
“DIMONT is a strong, longstanding business in a dynamic and growing sector and we are excited to partner with Denis Brosnan and the management team to support the company’s continued efforts toward product innovation and service expansions,” said David Hull, managing partner at Renovo Capital.
In connection with this transaction, Brosnan agreed to a new five-year contract to continue his role as president and chief executive officer of DIMONT.
“I am excited by the opportunity and humbled by the confidence entrusted in me and my team by our investors to lead the company into this new era,” said Brosnan.
DIMONT also announced a number of internal promotions, including Fran Weichsel as senior vice president of operations and client services; Tom Stover as senior vice president of solutions development; Teresa Epperson as senior vice president of administrative services and Lyné Donovan as vice president of finance.
Brosnan said of the promotions, “These professionals are experts in their fields with extensive industry experience and a deep commitment to outstanding service. I am proud of their promotions and look forward to forging the path to the next great chapter of DIMONT’s history.”
About Renovo Capital
Renovo Capital, LLC is a special situations private equity fund, investing out of Renovo Capital Fund II, LP, a $132 million committed capital fund. Renovo is focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-drive change. Renovo’s principals and extensive network of operating professionals have decades of experience delivering unique capital solutions and operational and strategic leadership to help solve complex situations and drive long term business value creation. Renovo Capital has offices in Dallas and Denver. Additional information is available at http://renovocapital.com/.
Founded in 1996, Dallas-based DIMONT provides outstanding service through specialty insurance and loan administration solutions to the residential and commercial financial industries in the United States. Additional information is available at www.dimont.com.