Generational Equity, a leading advisor to privately held and family-owned businesses for mergers, acquisitions, strategic growth initiatives, business valuation and exit planning announced the acquisition of its client, Cornerstone Appraisal Services, LLC, headquartered in Valparaiso, Indiana, by CIS-Cornerstone Holdings, LLC, a wholly-owned subsidiary of CIS Group, LLC, headquartered in North Richland Hills, Texas. The transaction closed on November 12, 2010.
Cornerstone Appraisal Services (CAS) was founded in 1996 and performs residential and commercial replacement-cost appraisals and loss-control inspections for the insurance industry nationwide. CAS contracts with insurance companies of all sizes to complete inspections on new and renewal personal lines and commercial policies. CAS concentrates on the high-value and older home niche, as well as small commercial exposures, which require specialized expertise to provide underwriters with detailed reports, accurate replacement value, and risk evaluations essential in these market segments. Managing Director, Doug Smith and Assistant Vice President, Michael Goss, led the Generational Equity deal team that advised Cornerstone Appraisal Services, LLC on the transaction. "This transaction was the ideal fit for both CAS, an expert in high-value properties, and CIS, an industry leader in mainstreet property inspections, and will provide for a wealth of ongoing synergistic benefits between the two groups for years to come," said Michael Goss.
CIS Group, LLC, with over 15 million transactions completed in its history, is a proven provider of decision-making intelligence for P&C insurance carriers, mortgage servicers, and asset management firms. By streamlining labor-intensive operations, calculating reliable replacement costs and standardizing valuations based on risk characteristics, CIS Group provides measurable improvement to bottom-line results. "We are very pleased that Cornerstone will be part of the CIS Group of companies. Cornerstone complements CIS' broader field service offering and already executes CIS' business mission of delivering high quality reports on time, every time. We look forward to building on Cornerstone's well known reputation for excellence of service," said Phil Sader, CIS-Cornerstone Holdings' Chief Operating Officer.
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