Gridiron Capital Announces Class Valuation’s Acquisition of Appraisal Tek (ATek)
NEW CANAAN, CT, August 9, 2022 – Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that one of its portfolio companies, Class Valuation, recently acquired Appraisal Tek (ATek), a leading nationwide appraisal management company with an extensive footprint in the Western region of the United States.
Headquartered in Chandler, Arizona, Appraisal Tek focuses on providing efficient and high-quality real estate valuations across all 50 states, with a concentration in the Western United States. The growing network will help Class Valuation scale and enhance its customer service metrics to improve the experience for clients of both AMCs. Moreover, ATek’s staff appraiser network and strong reputation for solid relationships, superior customer service and robust performance will bring meaningful value to Class Valuation’s existing customers.
Tom Burger, Co-Founder and Managing Partner at Gridiron Capital, stated, “ATek’s scale, across their appraiser network and market coverage, combined with Class Valuation’s digital appraisal platform, which has streamlined the data collection process and significantly reduced turn times and revision rates, will drive strong service-level KPIs for their collective customer bases.”
Will Hausberg, Senior Managing Director at Gridiron Capital, added, “ATek sought to partner with an industry leading organization and recognized Class Valuation would allow their clients access to a greater portfolio of valuation technologies. The exceptional customer service focus of ATek, combined with Class Valuation’s culture of innovation and timely appraisals is a win for both teams.”
This is the sixth acquisition by Class Valuation in the past 18 months and the eighth since the Company’s inception. Through these strategic acquisitions, Class continues to add regional strength, build a national Staff Appraiser footprint, and augment its leading market data analysis capabilities. Together, Class Valuation’s family of brands are working hard to reimagine the appraisal industry to deliver more accurate, transparent, timely appraisals to the mortgage community while simultaneously growing and protecting the future of the independent appraisal profession.
About Gridiron Capital, LLC
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.
About Class Valuation
Class Valuation is a top nationwide Appraisal Management Company (AMC), delivering outstanding quality and service to every client. The company is committed to combining the best people, products, processes, and technology available to help lenders make more homeownership dreams come true. Class has consistently been ranked highly in client service by several of the nation’s top ten mortgage lenders and has been recognized as a top place to work, along with receiving many other industry awards. Founded in 2009, Class Valuation is headquartered in Troy, Michigan. For more information, please visit www.classvaluation.com.
For Gridiron Capital, LLC:
Thomas A. Burger Jr., Co-Founder and Managing Partner
tburger@gridironcapital.com
For Class Valuation:
John Fraas, Chief Executive Officer
jfraas@classvaluation.com