Keane, the country’s leading provider of comprehensive unclaimed property solutions, is pleased to announce that it has been acquired by Lovell Minnick Partners, a private equity firm with offices in Los Angeles, CA and Philadelphia, PA. Lovell Minnick Partners is excited to enter the unclaimed property marketplace in support of a proven management team and to provide growth capital and strategic experience to further Keane’s vision and goals.
Keane’s President and Chief Executive Officer Michael J. O’Donnell added, “Keane is at the perfect inflection point in its life cycle for Lovell Minnick Partners to take the reins. With a proven track record of developing successful, high growth companies, we look forward to their expert strategic advice and operational guidance based on their decades of experience”.
O’Donnell further noted, “We appreciate all of the knowledge, support and expertise that our previous owners, DFW Capital and Maranon Capital, have provided during their period of ownership. The people, processes, and dedication to our clients that have enabled us to achieve such rapid growth with their support are the same reasons Lovell Minnick is investing in us.”
Robert M. Belke, Managing Director of Lovell Minnick Partners, commented, “We are extremely pleased to be associated with Keane. With demonstrated success in the financial services industry and a strong position for future growth, we are very confident that the team at Keane will continue to further their place as the industry leader.”
Keane is the country’s leading provider of comprehensive outsourced unclaimed property solutions. Keane provides corporations, mutual funds, banks, brokerages, insurance companies and transfer agents with a full suite of professional outsourced services, including locating account owners or beneficiaries, risk mitigation, customer communication programs, recovery of escheated assets, consulting, reporting and other unclaimed property compliance-related services.
Led by an experienced group of industry executives, Keane employs more than 200 people across the country. Keane is headquartered in New York, NY with a main operating facility in King of Prussia, PA, and has various satellite offices across the country. For more information on Keane, please visit www.KeaneUP.com.
About Lovell Minnick Partners
Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships with committed capital totaling over $850 million. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners, visit www.lovellminnick.com.