Troy-based Class Valuation, a real estate collateral valuation and appraisal management company for the residential mortgage industry, has acquired Janus Valuation & Compliance, a Texas-based appraisal management company.
Janus Founder John Passero will join the Class Valuation team as the newest regional COO to continue partnering with appraisers and financial institutions in the Southwest and Rocky Mountain parts of the country.
“I am excited to expand our proven service levels while also having the support in technology and resources that comes with a large-scale company like Class Valuation,” Passero said in a statement.
The acquisition marks the second completed by Class Valuation since its acquisition by Narrow Gauge Capital in March 2018.
“With the mortgage and valuation industry seeing major changes, we must align with companies that share our same core values. Through this partnership, we will continue to provide top service while building sustainable technology solutions for thoughtful change,” said Class Valuation CEO and Partner Mike Detwiler in a statement.
As part of its growth strategy, Class continues to pursue other acquisitions that enhance its geographic focus, customer relationships and technical capabilities.