Bankruptcy-administration firm Stretto acquires CINgroup
IRVINE, Calif., March 1, 2019 – Stretto, a market-leading bankruptcy-technology firm serving the corporate-restructuring and consumer-bankruptcy industries, has acquired CINgroup® and its BestCase® Bankruptcy/ CINcompass® software and data-services platforms. This acquisition complements Stretto’s portfolio of bankruptcy-related services and technology solutions with the addition of software and data resources designed to support legal professionals engaged in bankruptcy matters.
“At Stretto, we are focused on driving new efficiencies in case administration as well as developing and managing a technology platform at the center of the bankruptcy ecosystem,” comments Jonathan Carson, co-CEO of Stretto. “The acquisition of CINgroup perfectly aligns with our strategic vision, as it broadens our resources and capabilities in and around the bankruptcy industry, enabling us to create the only end-to-end bankruptcy-technology platform in the market.”
CINgroup, including Best Case Bankruptcy, CINcompass and CIN Legal Data Services®, represent the leading brands in bankruptcy. Serving more than 15,000 law firms and their clients for more than 25 years, CINgroup’s family of brands has earned a reputation of quality and trust. “At CINgroup, our goal is to provide innovative software and due diligence products for the bankruptcy market,” comments Dave Danielson, CEO of CINgroup. “By integrating with Stretto, we will be able to deliver an even greater suite of products, services and efficiencies for attorneys and other legal professionals.”
Stretto recently revealed its new brand identity, together with a broadened set of services for bankruptcy professionals and other fiduciaries, including an expanded suite of corporate-restructuring solutions and more diversified specialty-deposits service offerings. Stretto also continues to own the market-leader position in the bankruptcy-trustee space, counting more than 50% of United States Chapter 7 panel trustees as valued clients.
Equity financing for the transaction was provided by Carson, co-CEO Eric Kurtzman, other members of Stretto’s management team and investment funds managed by Stone Point Capital LLC, a financial services-focused private equity firm with which Carson and Kurtzman partnered in 2017.
About Stretto
For more than 30 years, Stretto (formerly known as Bankruptcy Management Solutions/BMS) has served as a trusted administrative partner, providing consumer-bankruptcy and corporate-restructuring solutions to fiduciaries. The company leverages deep-industry expertise to manage case administration and ensure fiduciaries are prepared for anything that comes their way. “Stretto” is a musical term indicating when one voice picks up where another leaves off, and, as our name implies, Stretto seamlessly integrates streamlined workflows and best-in-class technology to orchestrate the administrative process and create harmony for professionals and their teams. For more information about Stretto, visit www.stretto.com.
About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point Capital targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point Capital, visit www.stonepoint.com..
Stretto media contact:
Cristina Terrasini
310.775.7615
cristina.terrasini@stretto.com
or
Juliet Babros
310.375.7870
juliet@julietbabros.com