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Industry Updates
LRES, KEYSTONE
SIGN ACQUISITION
AGREEMENT
LRES Corporation, a diversified
REO/asset management and valuations
company, has signed a definitive agreement
to acquire Pennsylvania-based Keystone
Asset Management. e deal is expected to
be completed September 1, and the joined
companies will operate under the LRES
Corporation name.
"Keystone has been a well-known
and respected player in the REO/asset
management business as well as the appraisal
and valuation businesses for over twenty
years. We know the management team well
and have admired their growth, innovation,
and resiliency. It was an easy decision to join
forces," said Roger Beane, CEO of LRES.
Jane Hennessy, Founder of Keystone says
she and the team are "delighted that this
acquisition has occurred."
"Roger and I have talked for a long time
about finding a way to align forces. LRES
brings an additional layer of Tier One
delivery capabilities. It is an exciting time for
our team."
Ryan Hennessy, CEO of Keystone
adds, "Having known the LRES team for
many years, I'm extremely excited. e two
companies have a lot in common, have had
a great working relationship over the years,
and present a formidable solution to the
REO and valuation ecosystems."
e acquisition of Keystone
complements LRES' continued drive to
expand its servicing solutions channel and
the customers it serves, LRES President
Mark Johnson noted.
"Keystone brings with it tremendous
talent and technology capabilities. An
exciting byproduct of this union is that we
now have a talented team located in the
Eastern time zone."
