Abrigo, a provider of compliance, credit risk and lending solutions for financial institutions, has acquired Integrated Financial Solutions (IFS), the provider of IFSLeaseWorks, a company in end-to-end lease and loan origination and administration automation.
The IFS solution complements Abrigo’s existing loan origination and management platform by adding additional segments of equipment and vehicular financing. IFSLeaseWorks aims to expand Abrigo’s suite of automation tools and strengthen its asset management capabilities.
“Financial institutions are eager to grow while keeping an eye on profitability. That’s why the automation provided by the IFS solution is a great complement to the lending automation that Abrigo provides to our 2,400 financial institutions today,” Jay Blandford, CEO of Abrigo, said. “We couldn’t be more excited to welcome the IFS team and their clients into the Abrigo family.”
“Implementing IFSLeaseWorks has been a game-changer for our company. Over the past few years, we’ve experienced significant growth, yet we’ve maintained a lean workforce thanks to the system’s incredible efficiency,” Marcel Gilbert, vice president of information technology at Navitas Credit and customer of IFS, said. “Their commitment to ensuring the system runs smoothly has made them a trusted partner in our ongoing growth.”
“The IFS team has built a powerful application for leasing companies,” Mitch Kaufman, founder and CEO of IFS, said. “By joining with Abrigo, we see a bigger opportunity to share these capabilities with the market and continue innovating for our clients,”
Krall served as financial advisor to IFS in connection with this transaction. Rutan & Tucker served as legal advisor to IFS. DLA Piper served as legal advisor to Abrigo.
