New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ, the companies announced on Friday. The terms of the deal were not disclosed.
The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates. Meanwhile, Spring EQ will be able enhance its platform through further investments in technology, new commercial opportunities and growth-based operational initiatives, the company said.
Founded in 1996, Pennsylvania-based Spring EQ offers home equity, HELOCs, refis and purchase loans. It gives details ⇒
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