CARY, N.C., Oct. 9, 2014 (GLOBE NEWSWIRE) -- via PRWEB - PrecisionLender, the leader in loan pricing and profitability management solutions, today announced a strategic partnership with Century Capital Partners. With this investment, Century Capital Partners takes a minority stake in PrecisionLender.
PrecisionLender, based in Cary, North Carolina, was founded on the belief that lending is critical to the success of banks and that the most important conversation a lender has with a borrower is about pricing. PrecisionLender is designed to make that conversation successful for the borrower AND the bank.
"Effectively managing pricing and profitability has never been more important for banks. Our partnership with Century Capital will allow us to accelerate our investments in the PrecisionLender solution and in the outstanding service that we provide to our clients," said Carl Ryden, CEO and co-founder of PrecisionLender.
Century Capital Partners has a rich history of investing in the financial services industry and a seasoned team of investment professionals focused on helping to build value in the businesses they invest in. "There is a strong sense of credibility that comes from the deep relationships they have built and maintained over the years. More importantly, they have a culture parallel to the values we practice within our company and for our clients," added Ryden.
"We are excited to partner with the PrecisionLender team as we believe their solution is uniquely positioned to help banks profitably grow their portfolios, and avoid competing simply on rate," said Chris Lalonde, Partner at Century Capital. "Furthermore, we see a significant opportunity to leverage our firm's relationships across the banking sector to supplement the company's growth."
PrecisionLender and Century Capital Partners will begin working together immediately and believe that the partnership will have a significant impact on the industry.
About PrecisionLender
PrecisionLender is a web-based pricing and profitability management solution used by thousands of lenders every day to price over $20 billion in commercial transactions each quarter. With PrecisionLender, loan officers finally have a tool they can use, in the moment, to have a constructive conversation that focuses on the borrower's needs, and allows them to hand-craft a solution that works for both the borrower AND the bank. For more information, visit http://www.PrecisionLender.com.
About Century Capital Partners
Century Capital Partners, the private equity group of Century Capital Management, LLC, provides buyout capital and growth equity to privately-held, lower middle market financial services, outsourcing, distribution, services, and specialty balance sheet businesses. The firm pursues both control and minority investments in growing, profitable businesses led by management teams that are leaders in their respective industries. For more information, visit http://www.centurycap.com/private_equity.
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