.jpg)
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 (the “Company”), has acquired Pendo Management, LLC (“Pendo”). Class Valuation is a leading, technology-enabled appraisal management company (“AMC”) focused on providing regulatory-compliant appraisals to the nation’s largest mortgage lenders and originators.
Based in Kansas City, Missouri, Pendo offers a differentiated appraisal process with dedicated client success teams, automated workflows and experienced appraisers in unique coverage markets, which translates into consistent, high-quality service for its 150+ customers nationwide. Pendo leverages proprietary in-house IT to drive efficiency, speed and quality in the appraisal process. The acquisition will increase Class Valuation’s market density within the Midwest and rural markets where Pendo is strongest and create new relationships between Class Valuation and high-quality appraisers in these areas.
“I am proud of Pendo’s journey and the success this team has helped build. Looking forward, I am excited for the vast opportunities this partnership brings for our team and our clients,” said Mike Peck, CEO and Co-Founder of Pendo. “I am 100% confident that our customers will continue to receive the exceptional attention, quality and service that they expect from Pendo in our new partnership with Class Valuation. Our services will strengthen further as we leverage Class’ scale, resources, technology and innovation platform — we are excited to be part of the future of our industry.”
John Fraas, Chief Executive Officer of Class Valuation, stated, “We are excited to welcome the Pendo team to the Class Valuation family. Along with a strong cultural fit, we are aligned in our approach to provide our client partners with unparalleled quality and service. Combining Pendo’s and Class Valuation’s core capabilities, tech-enabled workflows and complementary areas of expertise will bring superior service to all of our customers.”
Tom Burger, Co-Founder and Managing Partner at Gridiron Capital, stated, “We were instantly impressed by the high-quality talent and forward-thinking leadership within Pendo’s organization and are eager to move forward as partners.”
Will Hausberg, Managing Director at Gridiron Capital, added, “Pendo and Class’ strategic alignment in being innovation leaders for the industry makes this partnership a true home-run. Pendo’s organization has phenomenal team members that will be an integral part of Class Valuation’s continued growth and world-class platform within the residential valuation industry.”
Berkery Noyes served as exclusive financial advisor to Pendo.
