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Barrier Advisors Seals Acquisition for Wingspan, BMO Harris Agents Financing

June 27, 2013, 07:33 AM
Filed Under: Mergers & Acquisitions

Barrier Advisors, a Dallas-based investment banking firm, announced its role as exclusive financial advisor to Wingspan Portfolio Holdings, Inc. during the firm’s acquisition of Dimont & Associates. Barrier Advisors had a dual role in the transaction, serving as both the buyside and the capital markets advisor for the company. The transaction closed on May 21, 2013.  

Senior financing was provided by BMO Harris Bank N.A. as administrative agent, Fifth Third Bank as syndication agent, and F&M Bank. THL Credit, Inc. provided the junior debt in the transaction.

Wingspan Portfolio Advisors, a wholly-owned subsidiary of Wingspan Portfolio Holdings, Inc., is a Dallas-based award-winning mortgage services company with multiple offices in Texas, California and Florida. Wingspan delivers a diverse range of servicing solutions to banks, investors, mortgage insurers, attorneys and real estate agents nationwide. Dimont & Associates is a leader in hazard and mortgage insurance claims services to top servicers and Government Sponsored Entities (GSEs) with offices in San Diego, California and Dallas, Texas. The acquisition places Wingspan as a national leader in mortgage and hazard insurance resolution for lenders and also increases the company’s ability to serve its clients with a combined employee count of approximately 2,000.

“Barrier served as a strategic partner to our business. They recognized the strength of Wingspan’s business opportunities and the growing depth of our management team,” says Steven Horne, Wingspan’s CEO and President. “From the preliminary discussions to the formal bid, Barrier spent a tremendous amount of time and effort in ensuring the acquisition fit our culture, vision and growth plan.

“Barrier provided critical insight into our buyside efforts and obtained debt financing that strategically fit our needs. They partnered us with highly reputable capital providers that understood our industry and business, and who want to be capital partners for the long term,” continued Horne. “Barrier’s commitment to Wingspan’s growth continued as they guided us through the integration. We look forward to Barrier’s ongoing relationship as a trusted advisor.”

Barrett Kingsriter, head of Investment Banking for Barrier Advisors, says, “It has been a pleasure working with Wingspan’s management team on this transaction. It’s a mutually beneficial relationship for all parties involved. For Wingspan, it secured both a strategically important acquisition and an attractive financing structure with respected financial partners, whose commitment confirmed the company’s long-term value and business development opportunities. For Barrier, it allowed us to continue supporting the growth and expansion of the combined entity.”

Barrett Kingsriter and Gene Wallace, managing director of Barrier Advisors served as the investment bankers in this transaction.

Barrier Advisors | NexBank Securities, Inc., based in Dallas, TX, provides investment banking, restructuring and operations advisory services to both public and private companies, and to several of the largest, most demanding institutional clients in the capital markets.

Wingspan Portfolio Holdings, Inc. and its wholly-owned subsidiaries, Wingspan Portfolio Advisors, LLC and Dimont & Associates. Inc., are award-winning, diversified mortgage services companies, partnering with lenders, servicers, investors, mortgage insurers, attorneys and real estate agents throughout the U.S.

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