Kekst CNC advised United Wholesale Mortgage as it becomes a public company via the biggest special purpose acquisition deal ever, with a market valuation of $16B.
UWM, the nation’s No. 1 wholesale mortgage lender, is merging with Gores Holding IV, a SPAC that raised $425M in its January public listing.
The Pontiac, MI-based company, which was founded in 1986, has about 7,000 employees and chalked up an adjusted net income of $1.7B.
CEO Mat Ishbia said being a public company will enable UWM to advance its strategy and capitalize on new opportunities under its unique family culture. “We look forward to granting our team members equity in the company that they have built and enabling them to participate in our future success,” he said.
Kekst CNC’s Daniel Yunger, Jim Fingeroth, Dawn Dover, Lindsay Gross, Simone Leung and Natalie Shutts worked the deal.
Publicis Groupe owns Kekst CNC.