New Partnership Will Further Drive Digital Advancement for Faith-Based Organizations
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.
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“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.”
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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.
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