KNOXVILLE, Tenn., Nov. 5, 2021 /PRNewswire/ -- Community Brands, the leading provider of cloud-based software and payment solutions for associations, nonprofits, and schools, announced that it has signed a definitive agreement for Reverence Capital Partners, a New York-based investment firm, to make a majority investment in Ministry Brands. Ministry Brands is a leading provider of cloud-based software, payments solutions, services and information platforms for churches, ministries and those they serve. Ministry Brands will continue to focus on its vision to improve the way churches and ministries operate, communicate, and engage by providing transformative technology solutions that enable growth and success in the digital age.
As part of the transaction, Ministry Brands becomes a separate standalone company, with material rollover investment from former parent, Community Brands. The two companies will operate independently providing more focused investment for each business' respective customers, employees, and stakeholders. Additional details of the transaction were not disclosed.
"We are excited to collaborate with the team at Reverence Capital Partners as we take Ministry Brands into its next phase of growth," said Pat O'Donnell, CEO of Ministry Brands. "The level of expertise and experience they bring to our organization will help accelerate our growth strategies and further support faith-based organizations as they continue reimagining operations, funding, and community engagement in integrated digital environments."
Founded by Ross Croley of Greater Sum Ventures, Ministry Brands has evolved from a point solution provider of church websites and digital donations in 2012 to an end-to-end ecosystem of leading integrated solutions serving more than 95,000 faith-based organizations. Its suite of software solutions includes church management, online giving, financial accounting, digital engagement, background screenings, and more.
"Ministry Brands has built a best-in-class software and payments solution suite backed by a strong commitment to customer service and desire to innovate," said Milton Berlinski, Managing Partner, Reverence Capital Partners. "We look forward to working with the team as they continue to understand the evolving needs of their markets and provide solutions for efficient and effective ministry operations."
William Blair served as the lead financial advisor to Ministry Brands; the company also received financial advice from FT Partners and Credit Suisse. Raymond James served as the exclusive advisor to Reverence Capital. Willkie Farr & Gallagher served as legal advisors for Ministry Brands, and Kirkland & Ellis for Reverence Capital.
About Community Brands Community Brands helps mission-driven organizations thrive. Our software, services, and payment solutions power nonprofits, associations, and K-12 schools to engage the people they serve through programs and events; raise funds to enable their mission; and manage their financials and operations. Our family of brands are bound by a common purpose to serve the organizations that make our communities a better place to live. Learn more about our Community Brands solutions for associations, nonprofits, K-12 schools, career development and events. Visit us at communitybrands.com and follow us on LinkedIn.
About Ministry Brands Serving more than 95,000 customers, Ministry Brands is the leading provider of SaaS platforms for churches, parachurch ministries and other faith-based organizations in the United States and Canada. Under the leadership of a mission-driven management team, the company seeks to equip the 21st-century church with technology that empowers pastors, church executives, technology professionals and administrators to proactively carry out their Biblical mission with excellence, reverence, and efficiency. Ministry Brands' suite of solutions includes church management, giving, accounting, mobile applications, website development, background checks, content, streaming, and messaging. Learn more about our brands at ministrybrands.com.
About Reverence Capital Partners Reverence Capital Partners is a private investment firm focused on thematic investing in leading global, middle-market Financial Services businesses through control and influence oriented investments in 5 sectors: (1) Depositories and Finance Companies, (2) Asset and Wealth Management, (3) Insurance, (4) Capital Markets and (5) Financial Technology/Payments. The firm was founded in 2013, by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The Partners collectively bring over 90 years of advisory and investing experience across a wide range of financial services sectors. For more information visit www.reverencecapital.com.
About Greater Sum Ventures Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and proven operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.