Business, HIMSS Conference

Kiosk Industry News for February 2024

WESTMINSTER, Colo. -- The Kiosk Association's mission is to inform and educate on self-service. Membership is open to all companies across the world. If you follow accessibility guidelines and encourage ADA and would like to be recognized, contact us at info@kioskindustry.org.

This month it is healthcare and HIMSS 2024. See our HIMSS booth. We are in 2189 (right across from Epic and not far from Oracle). We'll have 7 demos including Storm Interface, ImageHOLDERs, Vispero JAWS, Dolphin Screen Reader, Entropy (ECS) kiosk, Olea Kiosks, Kiosk Innovations + latest telehealth by RedyRef. HIMSS is March 11-15 in Orlando. Exhibits are Tuesday the 12th thru Thursday the 14th.

You can request a copy of the Advance Regulatory Guidelines here. You may want to allocate budget for retrofits...

Featured: Elevating restaurant finances - in-depth ROI review of three different restaurant kiosk deployments and their return on investment numbers (and dollars) including cost savings, employee costs and income. Also case study from Human Bean on drive thru headset tech from Panasonic.

Most popular news this month:

* Our HIMSS Booth 2189

* ROI review of three different restaurant kiosk deployments and the return on investment numbers (and dollars) including cost savings.

* Restaurant Self-Order Kiosks Ole Miss Student Union

* AI Robotic Restaurant & Food Assembly - This might be the one area where money actually gets spent

* ADA Accessibility Kiosk Legal Actions

* For Sale Kiosks and Components - Make an offer. 75″ touchscreens as low as $500 (almost new)

* Toast POS versus Legacy POS

Kiosk Machine Latest Posts

* Restaurant Drive Thru Headsets - A case study

* ADA Regulations Coming - ADA Accessibility Guidelines

* Braille Label - Braille Decals for ADA Accessibility

* HIMSS 2024 Kiosk Association Booth 2189

* Clover POS - Restaurant Kiosk ROI - Three Examples

* Kiosk Accessibility by Lainey Feingold Feb 2024

* Kiosk Monitor and Remote Monitor

* Braille Innovation Awards SXSW - Dot Pad

* Lottery Printers TITO for Quebec

Contact info@kioskindustry.org with any questions. From Kiosk Industry and Kiosk Manufacturer Association.

About Kiosk Industry

Kiosk Industry is the recognized source for opinions, insights, news, and market trends for self-service kiosks, digital signage, POS, and more. Learn from experts and join the community. We are a collective "co-op."

About the Kiosk Association

Our mission is to inform and educate. Accessibility, ADA, PCI, UL are some of our focus points. Join us for informative Q&A webinars and weekly emails. Learn more: https://kma.global/

Thanks to the great companies who make this possible.

Related link: https://kioskindustry.org/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, mortgage origination data, Optimal Blue, Reports and Studies

Optimal Blue Originations Market Monitor: Lock Volume Rises 36% Month Over Month in January, Falling Rates and Slowing Decline in Purchase Counts May Signal Lending Relief in 2024

PLANO, Texas -- Today, Optimal Blue announced the release of its Originations Market Monitor report, looking at mortgage origination data through January month-end. Leveraging daily rate lock data from the Optimal Blue PPE - the industry's most widely used product, pricing, and eligibility engine - the Originations Market Monitor provides a comprehensive and timely view into origination activity.

"The new year kicked off with continued rate relief and a 36% month-over-month gain in total lock volume, driven by a seasonal 38% increase in purchase lock volume," said Brennan O'Connell, director of data solutions, Optimal Blue. "We also saw the smallest year-over-year decline in purchase lock counts since May 2022, which may foreshadow a stabilizing market and friendlier lending environment in 2024."

In addition to the month-over-month climb in purchase lock volume, cash-out and rate/term refinance volumes rose 30% and 20%, respectively. The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate dropped 4 basis points (bps) in January to finish the month at 6.53% after a mid-month peak at 6.7%. FHA and VA rates also fell in January, dropping 4 bps and 3 bps, respectively, while jumbo rates moved in the other direction with an 11-bps increase since year-end.

Mortgage rates fell despite a month-over-month 15-bps increase in the 10-year Treasury yield in January, leading to a 19-bps narrowing of the mortgage-to-Treasury spread. At approximately 250 bps, the January spread reached levels unseen since mid-2022. While still elevated relative to historical averages, the spread has narrowed significantly since eclipsing 300 bps on multiple occasions in 2023.

Conforming products gained market share to start the year, rising 72 bps to account for 57.3% of total volume. Non-comforming products - including jumbo and non-QM - rose 27 bps to make up 9.7% of total volume. Ginnie Mae-eligible products moved inversely, however, with the FHA share dropping 87 bps and the VA share falling 13 bps, each representing 20.7% and 11.7% of total volume, respectively. The share of adjustable-rate mortgage (ARM) products stayed consistent at just above 5% of total volume. Improving rate conditions and an inverted yield curve have limited the demand for ARM loans.

The rise in lock volume coincided with a January climb in average credit scores across all products and loan purposes. The average loan amount also rose, increasing from $349.5K to $355.6K. Finally, after six consecutive months of decline, the average home purchase price rebounded, jumping from $435.9K to $444.9K.

Each month's Originations Market Monitor provides high-level origination metrics for the U.S. and the top 20 metropolitan statistical areas (MSAs) by share of total origination volume. View the Optimal Blue Originations Market Monitor report for more detail on January activity.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue:

Optimal Blue is a market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company's premier products are used by 68% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue's end-to-end secondary marketing automation, visit OptimalBlue.com.

Related link: https://www2.optimalblue.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, e-Commerce, Government Payment Solutions, Justice and Payments market

Avenu Insights & Analytics Announces Strategic Acquisition of Judicial Innovations

CENTREVILLE, Va. -- Avenu Insights & Analytics ("Avenu"), the global leader in revenue recovery and administrative solutions for state and local governments, is excited to announce its acquisition of Judicial Innovations, a pioneering provider of cloud-based payment and case management solutions. This acquisition marks Avenu's second payment solution acquisition in 2024, underscoring its commitment to investing in government payment technologies and expanding its Justice Solution set including Avenu | Court, Avenu | Jury, and Avenu | Payments.

Judicial Innovations is recognized for its innovative approach to simplifying government payment processes through its fully integrated, user-friendly platform. This strategic acquisition not only aligns with Avenu's dedication to enhancing its service offerings but also represents a significant step forward in combining powerful technology with practical, government-focused solutions.

Empowering Modern Government with Integrated Solutions

The integration of Judicial Innovations into Avenu's suite of services creates unparalleled synergy, especially within Avenu's Justice Solution suite. Judicial Innovations' platform, known for its accessibility, robust reporting, and seamless integration capabilities, perfectly complements Avenu's mission to provide comprehensive solutions that meet the dynamic needs of government agencies and their constituents.

A Future Focused on Innovation and Efficiency

Avenu's acquisition of Judicial Innovations not only signifies a commitment to advancing government operations through technology but also highlights the importance of modern, secure, and efficient payment processing systems.

"This acquisition is a testament to our strategic vision of creating a more cohesive, user-friendly experience for government agencies and the communities they serve," stated Paul Colangelo, CEO of Avenu Insights & Analytics.

"We are truly excited to partner with Avenu Insights & Analytics," said Jarrett Gorlin, CEO of Judicial Innovations. "As a leader in the Justice and Payments market, this partnership represents a tremendous opportunity to further enhance our innovative solutions and expand our impact on government operations nationwide."

About Judicial Innovations

Judicial Innovations stands at the forefront of government payment solution providers, offering a cloud-based platform that simplifies and streamlines the payment and case management process for government agencies nationwide. Its focus on modernization, security, and efficiency has made it a preferred choice for agencies looking to improve their operations and service delivery.

About Avenu Insights & Analytics

Over 4,500 state and local governments have partnered with Avenu to drive positive results for their communities through software administration and revenue recovery solutions. Avenu's comprehensive software solutions digitally transform government by modernizing processes, providing online access to records, and reducing costs. Avenu also provides a robust ecosystem of revenue management services that identify and recover untapped revenue. State and local governments work closely with Avenu to increase revenue without raising taxes, streamline internal operations, and improve services by enhancing connectivity for constituents. Avenu is a portfolio company of Arlington Capital Partners. Visit https://www.avenuinsights.com/.

About Arlington Capital Partners

Arlington Capital Partners is a Washington, DC-area private equity firm that has raised $8 billion in limited partner commitments since inception. Arlington is focused on middle market investment opportunities in growth industries including aerospace & defense, government services and technology, healthcare, and business services and software. The firm's professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company's position as leading competitors in their field. For more information, visit Arlington Capital's website at https://arlingtoncap.com/ and follow Arlington on Linkedin.

Related link: https://www.avenuinsights.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business

Deacon Jones Automotive expands reach with acquisition of Sale Auto Mall in Kinston, North Carolina

SMITHFIELD, N.C. -- Deacon Jones Automotive, a leading dealership group based in Smithfield, North Carolina, is proud to announce its recent acquisition of Sale Auto Mall Stores (BMW, Chevrolet, GMC & Ford) located in Kinston, North Carolina. This strategic move, in a desired partnership with Capital Automotive of Raleigh NC, marks a significant expansion for Deacon Jones Automotive, further solidifying its position as a premier destination for automotive sales and service in the region.

Deacon Jones Automotive's addition of Sale Auto Mall now boasts an even wider selection of top automotive brands, providing customers in the Kinston and the eastern NC region with access to an unparalleled inventory, and unrivaled customer service. This acquisition aligns with Deacon Jones Automotive's commitment to delivering an exceptional customer experience and fostering long-term relationships within the communities it serves.

Ken Jones, President & CEO of Deacon Jones Automotive, expressed his enthusiasm for the acquisition, stating, "We are thrilled to welcome Sale Auto Mall Stores into the Deacon Jones family. We are also elated to with addition of our first luxury import brand BMW! This expansion allows us to better serve our customers in Kinston and surrounding areas, offering them a diverse range of quality vehicles and exceptional service."

For over 40 years Deacon Jones Automotive has built a reputation for excellence, with a dedicated team of professionals who prioritize customer satisfaction above all else. By combining the strengths of both organizations, Deacon Jones Automotive aims to elevate the car-buying experience for its customers and continue its tradition of providing unparalleled value and service.

For more information about Deacon Jones Automotive, please visit https://speakindeacon.com/.

About Deacon Jones Automotive:

Deacon Jones Automotive is a trusted dealership group based in Smithfield, North Carolina, offering a wide selection of new and used vehicles from top automotive brands. With a commitment to customer satisfaction and community engagement, Deacon Jones Automotive has become a preferred destination for car buyers in the region.

Related link: https://speakindeacon.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business

MMI Earns Second HousingWire Tech100 Mortgage Award

SALT LAKE CITY, Utah -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced its inclusion in the 2024 HousingWire Tech100 Mortgage list. This year marks MMI's second appearance on the HW Tech100 list, which serves as a guide for identifying partners and solutions that address the daily challenges mortgage lenders and real estate professionals face every day.

MMI diligently gathers, organizes, and standardizes data from diverse mortgage and real estate sources, presenting it to clients in an easy-to-access database format. MMI's approach equips businesses with the tools necessary for analysis and actionable insights. This enables lenders of all stripes to identify growth targets and recruiting strategies to scale their businesses more efficiently.

"Even though lenders faced challenges last year, we take pride in serving as a guiding force for our customers during unpredictable markets like this. In fact, LOs using MMI continued to produce 1.9X the volume of their peers, resulting in a 5-million-dollar difference compared to LOs not using MMI," said Ben Teerlink, Founder and CEO of MMI. "MMI methodically harnesses multiple data sources to put unique data intelligence and insights into the hands of each user. We've built MMI so that everyone from large banks to individual brokers is able to utilize our data to find more loans. While it's an honor to earn another slot on the HW Tech100, it's an even bigger one to be a valued resource to the mortgage industry."

"The technology capabilities and solutions that this year's Tech100 winning organizations have developed are an absolute testament to the relentless innovation within the real estate and mortgage technology landscape," HW Media Editor in Chief Sarah Wheeler said. "These past few years have been transformative for the industry and these honorees are continuing to bring long-awaited solutions to the challenges that mortgage and real estate professionals have struggled with for decades."

Each year, the Tech100 program has continued to expand, and the applicants increase in caliber and innovation as the demand for technology in housing continues to progress. For another year, the Tech100 program has been presented in two groups - Tech100 Mortgage and Tech100 Real Estate - to highlight the innovation and achievements of organizations from both sectors.

To view the complete list of HW Tech100 winners, visit https://www.housingwire.com.

About MMI:

Mobility Market Intelligence (MMI) is a market leader in data intelligence and market insight tools for the mortgage and real estate industries. Headquartered in Salt Lake City, the company's signature product, MMI, provides actionable intelligence for lenders, real estate agents, brokerages, title companies and others in the real estate industry. MMI is currently used by more than 450 enterprise customers, including 20 of the top 25 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Related link: https://mmi.io

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Education and Schools, education management, Reason and Republic

S.C. Education Management Organization Reason & Republic Announces Key Leadership Positions

ANDERSON, S.C. -- Reason & Republic, a South Carolina charter school leader, is pleased to announce the promotion of two highly accomplished individuals to pivotal roles in its organization. Mrs. Jamie Brumer-Clemons Appointed Superintendent and Chief Executive Officer

Reason & Republic proudly announces the promotion of Mrs. Jamie Brumer-Clemons to Superintendent and Chief Executive Officer. Previously serving as R&R's Director of Operations, Mrs. Brumer-Clemons brings over 22 years of invaluable experience in the education sector, with a decade of her work dedicated to charter school education and operations. Holding a Masters in Education, Jamie has consistently demonstrated an ability to operate high-performing charter schools that provide students and parents with what they need to flourish outside the traditional education setting. Residing in Greenville, SC with her loving husband William and their cherished animals, Jamie is a proud parent of two daughters who are attending college in Florida, and two stepsons in Michigan.

Dr. Kelly Griffis Named Deputy Superintendent

Dr. Kelly Griffis is being promoted to Reason & Republic's Deputy Superintendent, bringing 20 years of teaching and administrative experience in public, charter, and private schools. With a proven track record in developing thriving charter schools, Dr. Griffis brings a wealth of expertise and passion to her new position. With a Masters in Special Education, an Ed. S. in Educational Leadership, and a Doctorate in School Administration, Dr. Griffs formerly served as an adjunct professor at Tri-County Tech and as a curriculum developer at the university level. Kelly has been married to Rev. Stacey Griffis for 34 years, and they are blessed with three daughters and five grandchildren.

"We are delighted to announce these well-deserved promotions, which underscore Reason & Republic's commitment to developing a leadership team that understands our students' needs, and is committed to providing personalized, flexible, and effective learning environments for the families we serve," noted Reason & Republic's founder, James Galyean.

About Reason & Republic:

Reason & Republic is South Carolina's premier education management organization, dedicated to developing high-performing charter schools that provide an excellent education to underserved populations across the southeast. We put students first in everything we do, utilizing time-tested curricula and individual feedback to help students achieve and exceed their academic goals. Visit us on the web at https://reasonandrepublic.com/.

Related link: https://reasonandrepublic.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Construction and Building, Industrial SalesLeads Inc, Manufacturing, Reports and Studies

January 2024 Delivers a Slow 97 New Industrial Manufacturing Planned Projects

JACKSONVILLE BEACH, Fla. -- SalesLeads announced today the January 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 97 new projects in the Industrial Manufacturing sector as compared to 136 in December 2023.

The following are selected highlights on new Industrial Manufacturing industry construction news.

* Industrial Manufacturing - By Project Type

Manufacturing/Production Facilities - 85 New Projects

Distribution and Industrial Warehouse - 78 New Projects

* Industrial Manufacturing - By Project Scope/Activity

New Construction - 34 New Projects

Expansion - 30 New Projects

Renovations/Equipment Upgrades - 36 New Projects

Plant Closings - 14 New Projects

* Industrial Manufacturing - By Project Location (Top 10 States)

North Carolina - 11

Indiana - 7

Ontario - 7

Michigan - 6

California - 5

Ohio - 5

Washington - 5

Kentucky - 4

Massachusetts - 4

New York - 4

LARGEST PLANNED PROJECT

During the month of January, our research team identified 12 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Honda Motor Company, who is planning to invest $14 billion for the construction of an EV battery manufacturing facility and is currently seeking a site in ONTARIO.

TOP 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

MISSISSIPPI:

Energy technology company is planning to invest $2 billion for the construction of an EV battery manufacturing facility in MARSHALL COUNTY, MS. They are currently seeking approval for the project.

NORTH CAROLINA:

Diesel engine mfr. is planning to invest $580 million for the expansion and equipment upgrades on their manufacturing facility in WHITAKERS, NC. They are currently seeking approval for the project.

ILLINOIS:

Copper products mfr. is planning to invest $500 million for the expansion and equipment upgrades on their manufacturing facility in EAST ALTON, IL. They are currently seeking approval for the project.

CALIFORNIA:

Semiconductor mfr. is planning to invest $432 million for the construction of a manufacturing facility in WEST OAKLAND, CA. They are currently seeking approval for the project.

INDIANA:

Building materials mfr. is planning to invest $200 million for the construction of a 300,000 sf manufacturing facility in ANDERSON, IN. They are currently seeking approval for the project.

INDIANA:

Semiconductor mfr. is planning to invest $152 million for the renovation and equipment upgrades on a 170,000 sf manufacturing facility at 301 N. Curry Pike in BLOOMINGTON, IN. They have recently received approval for the project. Completion is slated for Fall 2024.

WISCONSIN:

Corrugated packaging product mfr. is planning to invest $140 million for the construction of a 550,000 sf manufacturing and warehouse facility at 9423 Koessl Court in PLEASANT PRAIRIE, WI. Construction is expected to start in Spring 2024.

CALIFORNIA:

EV mfr. is planning for the construction of a 630,000 sf manufacturing and office facility on Avenue H in LANCASTER, CA. They are currently seeking approval for the project.

NEW YORK:

Biotechnology company is planning to invest $100 million for the renovation of a 235,000 sf laboratory, processing, and office facility at 1 Avon Pl. in SUFFERN, NY. They have recently received approval for the project.

INDIANA:

Military agency is planning to invest $100 million for the construction of a munition manufacturing facility in CRANE, IN. They are currently seeking approval for the project.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

* Industrial Manufacturing
* Plastics
* Food and Beverage
* Metals
* Power Generation
* Pulp Paper and Wood
* Oil and Gas
* Mining and Aggregates
* Chemical
* Research and Development
* Distribution and Supply Chain
* Pipelines
* Pharmaceutical
* Misc. Industrial Buildings
* Waste Water Treatment
* Data Centers

LEARN MORE: https://www.salesleadsinc.com/industry/industrial-manufacturing/

Related link: https://www.salesleadsinc.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business

ACES Quality Management Achieves a Decade of Distinction on HousingWire TECH100

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has been selected for the tenth consecutive year by HousingWire magazine for its annual TECH100 awards program. The magazine chose ACES for the continual innovation of its flagship quality control (QC) auditing platform, ACES Quality Management & Control® software.

"Loan quality is an ever-shifting goal. The challenges of the past year emphasized the critical importance of upholding quality and managing risk, prompting many lenders to seek refuge in mortgage servicing amidst the decline in origination volume," stated Trevor Gauthier. "ACES remains steadfast in its commitment to render this target achievable and seamless, providing cutting-edge QC tools to empower lenders in safeguarding the integrity of their origination and servicing portfolios and other integral parts of their business. The enduring recognition of ACES in HousingWire's Tech100 list affirms our dedication to driving innovation in quality control."

In the past year, ACES introduced ACES PROTECT, a suite of automated regulatory compliance tests aimed at simplifying the auditing procedures for lenders. The company further expanded its commitment to industry knowledge communication by publishing over 450 articles and 160 calendar items on its complimentary Compliance NewsHub. Additionally, ACES continued to provide valuable insights through its quarterly Mortgage QC Industry Trends report. Recognizing the diverse requirements of businesses in consumer lending, servicing, specialty, and mortgage origination, ACES offers an enterprise-wide solution with customizable audit packs tailored to meet specific needs.

"The technology capabilities and solutions that this year's Tech100 winning organizations have developed are an absolute testament to the relentless innovation within the real estate and mortgage technology landscape," HW Media Editor in Chief Sarah Wheeler said. "These past few years have been transformative for the industry and these honorees are continuing to bring long-awaited solutions to the challenges that mortgage and real estate professionals have struggled with for decades. Congratulations to all the deserving winners for their outstanding contributions to our ever-evolving industry."

HousingWire's TECH100 award seeks to highlight the most innovative technology companies across the housing sector. To view the complete list of winners, visit https://www.housingwire.com/articles/announcing-the-2024-tech100-mortgage-winners/

About ACES Quality Management

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

About HousingWire

HousingWire is an information services company that provides unique data and research, respected business journalism and must-attend events for housing leaders to use to advance their understanding and business outcomes. Our vision is a world in which housing leaders have a complete view of the housing market, and a broad community of peers with whom they can connect. We are committed to delivering the data, analytics, media, and events that advance this vision.

Because housing is too important for narrow perspectives and missed connections. Informed housing leaders are better housing leaders. A connected housing industry is a better housing industry. And the full picture always reveals new opportunities.

Explore more at www.housingwire.com.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Manufacturing

Matrix Advises on the Sale of Hicks Oils’ Lubricants Business to Schaeffer Manufacturing Company

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, announces that it has advised Hicks Oils & Hicksgas, Incorporated ("Hicks" or the "Company") on the sale of its Hicks Oils lubricants business to Schaeffer Manufacturing Company ("Schaeffer"). Hicks Oils is a premier independent lubricant blending and packaging business in southern Illinois that produces automotive and industrial lubricants. Schaeffer, founded in 1839 and based in St. Louis, produces and sells a broad range of synthetic motor oils, industrial lubricants, hydraulic fluids, and other related products.

Based in Du Quoin, Illinois, Hicks Oils was formed in 1978 by C. W. Hicks as a further expansion of his integrated petroleum operations, with the initial goal of providing products and services to the local coal mining industry. In 1989 upon the passing of Mr. Hicks, his grandsons Todd and Shawn Coady joined the Company and took over running the lubricants business and the family's multiple other companies. Shawn Coady currently serves as President of the business and Todd as Vice President. Throughout the 1980's and 1990's as markets changed, the business evolved and expanded to include contract packaging, private label, and company branded products. Today, Hicks Oils blends and packages motor oil, hydraulic fluid, gear lubes, transmission fluids and various specialty lubricants for distributors, major oil companies, OEMs, and after-market providers.

Matrix provided merger and acquisition advisory services to the Company, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by John Underwood, Managing Director; Vance Saunders, CPA, Managing Director; Andrew LoPresti, CPA, CFA, Vice President; Jared de Perio, Analyst.

Dr. Shawn Coady, President of Hicks said, "When I decided to sell the business, I had significant experience with Matrix from various propane market transactions and was confident they were the right company to handle the transaction. Hicks Oils is a unique business, and they did an exceptional job handling the sale. I am very pleased with Schaeffer as the buyer. I believe the strategic and cultural fit of the two companies will provide significant growth opportunities, as well as a great work environment for Hicks' employees."

Mr. Underwood added, "We have valued our relationship with Dr. Coady for many years and we were honored when he chose Matrix to sell the Hicks' lubricants blending and packaging business. We very much appreciate the trust that Shawn placed in the Matrix team and the contributions from him and his operating team during the sales process."

Bill Scott of Allen & Korkowski & Associates served as legal counsel for Hicks.

About Matrix's Downstream Energy & Convenience Retail Investment Banking Group:

Matrix's Downstream Energy & Convenience Retail Investment Banking Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience retailing, petroleum marketing & distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum logistics, terminals, car washes and quick service restaurants. Group members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate valuations, special situations and strategic planning engagements. Since 1997, our Downstream Energy & Convenience Retail Investment Banking Group has successfully completed over 300 engagements with a total transaction value of more than $15 billion.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business

NotaryCam makes its 6th appearance on HousingWire’s annual Tech100 list of innovative technology

HOUSTON, Texas -- NotaryCam®, a Stewart-owned company and a pioneering provider of remote online notarization and identity verification/authentication technology for real estate and legal transactions, today announced its inclusion in the prestigious Tech100 awards program by HousingWire, a leading industry publication.

Over the past year, NotaryCam executed more than 180,000 RON transactions. The company also grew its independent notary platform customer base by 46% and increased the number of loss mitigation-related RON transactions by 115%. In addition, the company expanded its nationwide footprint by becoming an approved RON provider in North Carolina, Delaware and Illinois. With the passage of California's RON bill this year, NotaryCam has also prepared its platform to support RON transactions in that state.

Now in its 12th year, the Tech100 program provides housing professionals with a comprehensive list of the most innovative and impactful organizations in the industry. The list can be leveraged to identify partners and solutions to the challenges that mortgage lenders and real estate professionals face every day.

"We're honored to secure a spot on the HousingWire Tech100 list for the sixth consecutive year, alongside exceptional companies," expressed Brian Webster, President of NotaryCam. "For years, NotaryCam has led the way in the Remote Online Notarization (RON) domain, an area we consistently enhance. It remains an essential tool in the ongoing global shift towards digitalization."

"One of the most exciting parts of my role at HousingWire is having a front row seat to witness stunning innovation in mortgage and real estate," said Clayton Collins, CEO of HW Media. "HousingWire is dedicated to serving housing professionals with the full picture, and the full picture isn't complete without deep and insightful coverage and resources to help mortgage and real estate professionals uncover the innovators and solutions that drive growth and efficiency in the housing sector."

About NotaryCam, a Stewart Company:

NotaryCam, a Stewart-owned company, is the leader in online notarization and mortgage eClosing solutions, having notarized documents worldwide for more than a million customers in all 50 states and more than 146 countries. The company's eClose360® platform delivers the "perfect" online mortgage closing in every jurisdiction and supports all eClosing scenarios with a flexible workflow for document recording and unparalleled identity verification, security and customer convenience. In addition to real estate transactions, NotaryCam provides RON services to many Fortune 500 companies as well as small and midsize businesses. The company also proudly maintains an industry-leading 99.8 percent customer satisfaction rating and the highest Net Promoter Score (NPS) amongst the best global tech brands.

Visit https://www.notarycam.com for additional information or to get a document notarized today.

About HousingWire:

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