KNOXVILLE, Tenn., Dec. 30, 2021 /PRNewswire/ -- Community Brands, the leading provider of cloud-based software and payment solutions for associations, nonprofits, and schools, announced that it has completed the transaction in which New York-based investment firm Reverence Capital Partners makes 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.
As part of the transaction, Ministry Brands becomes a separate company from 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 about our partnership with Ministry Brands and appreciate the long track record of demonstrated growth as well as the resilience and growth opportunity within the faith-based end market," said Milton Berlinski, Managing Partner, Reverence Capital Partners. "We look forward to a strong future focused on product innovation to drive digital transformation within this market."
Founded by Ross Croley of Greater Sum Ventures, Ministry Brands has evolved from a point solution provider 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.
"We welcome this investment from Reverence Capital as we continue to focus on improving the way churches and ministries operate, communicate and engage," said Pat O'Donnell, CEO of Ministry Brands. "In this increasingly digital world, our transformative tech solutions enable growth and success for faith-based organizations, which will only be accelerated by the expertise and experience that the Reverence team brings to our partnership."
Given Community Brands' continued confidence in Ministry Brands and its team, the former parent will have a minority rollover investment in the Reverence-led transaction.
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 Twitter and 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.
For Community Brands:
For RCP/Ministry Brands:
Pam Junot, [email protected]
Kristin Alm, [email protected]
SOURCE Community Brands