Silver Lake acquires mortgage, legal and digital services provider Grupo BC

Global technology investment firm Silver Lake has acquired Grupo BC, a leading mortgage management, legal and digital services provider to the financial sector in Iberia and Latin America.

Posted Wednesday, November 24th 2021
Silver Lake acquires mortgage, legal and digital services provider Grupo BC

The deal entails the acquisition of 100% of Grupo BC from majority holders L-GAM, and seeks to foster the next phase of Grupo BC’s growth and value creation.

“We are delighted about the new partnership with Silver Lake, a leading global technology investor which has placed their trust in us and with whom we will be able to strengthen our organic growth thanks to their technological expertise and through selective acquisitions,” Santiago Bellver, chairman of Grupo BC, and Xavier Costa, CEO of Grupo BC, said in a joint statement.

"Grupo BC is an outstanding company with a unique value proposition as a scaled and tech-enabled provider of mission-critical services and software to financial institutions across Iberia and Latin America,” Christian Lucas, co-head of Silver Lake EMEA, said.

Silver Lake’s investment is intended to further product development in order to strengthen and expand Grupo BC’s solution range as well as to continue its track-record of pioneering digital innovation, consistent with management’s clear focus on building out Grupo BC’s software and data analytics capabilities to enhance its client-centric solutions and drive continued organic and inorganic growth.

Silver Lake's portfolio companies collectively generate more than $221 billion of revenue annually and employ more than 526,000 people globally.

Founded in 1974 and headquartered in Madrid, Grupo BC is the leading tech-enabled processing platform, software and services provider for mortgage management, online mortgage brokerage, legal and digital solutions to the financial sector in Spain, Portugal, Mexico, Brazil, Colombia, Chile and Peru.

The value and terms of the investment were not disclosed.

Law firm Philippi Prietocarrizosa Ferrero DU & Uría (PPU) acted as counsel to Silver Lake in Latin America on the investment, and which involved the jurisdictions of Spain, Chile, Colombia, Peru and Mexico.

PPU’s team was led by partners Rafael Boisset (Peru), Claudia Barrero (Colombia), Tomás Acosta and Andres Sanfuentes (Chile), and who were supported by associates Constanza Rodríguez (Chile), Macarena Fuchs (Chile), Noelia Mariátegui (Perú), Camilo Ballesteros (Colombia).