Shelter Mortgage Acquired by CIVC Partners

CIVC Partners, a Chicago-based private equity firm, completed the acquisition of Shelter Mortgage from its parent company, Guaranty Bank.

As part of the transaction, more than $200 million in new lines of credit have been secured with JPMorgan Chase, Guaranty Bank and Bank of America.

“We believe Shelter Mortgage is uniquely positioned to take advantage of the recovering housing market,” said Marc McManus, a principal at CIVC Partners.

Shelter Mortgage is a retail residential mortgage originator predominantly focused on conforming purchase money loans generated through partnerships with Realtors, builders and relocation companies. The Guaranty Bank subsidiary based in Milwaukee has over 170 loan officers and is licensed to originate loans in 28 states.

“We’re excited about entering this partnership with CIVC, a firm that understands the financial services market and has a record of helping management teams drive growth,” said Jill Belconis, CEO of Shelter Mortgage in a press release.

“We expect to drive growth through a stronger value proposition for our partners, an enhanced mortgage product offering for our borrowers, and the continued recovery of the housing market.”

This acquisition represents the fourth platform investment in the mortgage industry CIVC has obtained in over 20 years.

Sandler O’Neill served as financial advisor to Guaranty Bank on the transaction.