This week, private equity firm Narrow Gauge Capital announced it has acquired Class Appraisal, a real estate asset valuation and appraisal management solutions provider.
“Class Appraisal is a tremendous company that offers the absolute best service model that we have seen in the appraisal management business,” said Adam Doctoroff, a partner at NGC. “Class has developed an incredible company culture, operational excellence, and a trusted partnership with industry-leading clients and top-performing appraisers that will generate continued significant growth.”
ICG Strategic Equity and Aberdeen Standard Investments provided equity co-investment in the transaction alongside Narrow Gauge Capital, according to the company’s press release.
“Narrow Gauge Capital has developed deep knowledge of the mortgage industry and has consistently demonstrated its strong commitment to providing unmatched client service and world-class technology,” said Alex Elezaj, CEO of Class Appraisal. “Our new ownership will allow us to continue to invest in our service offering for the benefit of all of our customers."
“We have made great progress over the past several years and are excited to work with Narrow Gauge to enhance our market-leading position,” said Jon Tallinger, vice president of sales and marketing for Class Appraisal.
