BIRMINGHAM, AL. (March 1, 2023) – Founders is pleased to announce that certain principals of Founders Advisors advised Accruit Holdings LLC (“Accruit”), a leading independent Qualified Intermediary and technology service provider of real estate 1031 exchanges, in its sale to Millennium Trust Company, LLC (“Millennium Trust”), a portfolio company of Abry Partners.
Accruit has successfully revolutionized the 1031 exchange industry by operationalizing the exchange of real estate assets through its patented 1031 exchange workflow software, Exchange Manager ProSM, and its unique client-focused service. The acquisition will broaden Millennium Trust’s diverse solutions by giving institutional and individual clients access to world-class facilitators of all types of 1031 exchanges, one of the most popular, efficient tax deferral strategies when selling and buying real estate property used for business or investment.
“It’s an incredibly exciting time to join Millennium Trust. Our unparalleled 1031 exchange solutions and innovative online platform fit perfectly with its core markets around retirement and wealth solutions,” said Brent Abrahm, President and CEO of Accruit. “Our industry experts look forward to immediately adding value to Millennium Trust’s clients by providing another solution to help maximize their financial well-being and their specific focus on investments in alternative assets and real estate.”
“The Founders Team provided a world class experience from start to finish,” added Steve Holtkamp, Senior Managing Director and CFO of Accruit. “It was clear from the outset we could be confident in their technical expertise, market analysis, negotiation insights and deal structuring which allowed our team to remain focused on growing our business with limited outside distractions.”
Billy Pritchard, Founders Advisors Director said, “Working alongside Brent, Steve, and the entire Accruit team has been an absolute privilege, and we are grateful for the opportunity to serve the team as they worked through this transaction process. Brent and team built an incredible business with innovative solutions and a thriving company culture. We look forward to watching Accruit’s continued success alongside Millennium Trust.”
Accruit was exclusively advised by principals of Founders Advisors in this transaction.
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders focuses on helping companies across technology, business services, consumer, energy, industrial, and healthcare industries. Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders Advisors, LLC are licensed with Founders M&A Advisory, LLC, member FINRA and SIPC. Founders M&A Advisory, LLC is a wholly-owned subsidiary of Founders Advisors, LLC. Founders Advisors, LLC does not provide investment advice. For more information, please visit www.foundersib.com.