Acquired AMC company has a strong foothold in Maine and New England
Continuing its series of acquisitions, Class Valuation has revealed its agreement to acquire appraisal management company PropertyVal.
Commenting on the deal, Class Valuation CEO John Fraas said one of the “most significant things” about this deal is the “exceptional service level PropertyVal offers in the state of Maine and New England.” PropertyVal is the latest in a string of strategic acquisitions by the Troy, Michigan-based appraisal company.
“As everybody in the industry knows, Maine is a very challenging market for appraisals,” Fraas said. “We will now have a big leg up and be able to lean heavily on the PropertyVal team to assist Class with all Maine orders. We are also culturally aligned; Bob and Amy share the same core values we thrive on at Class Valuation.”
“We are a regional AMC with a strong network across New England, but our stronghold has been in the Maine and New Hampshire markets,” said PropertyVal CEO Robert Strong. “To partner with an industry leader like Class Valuation will benefit both our lending and appraisal partners. With the industry moving towards faster technology-driven solutions and Class's innovations leading the way, it is clear Class Valuation has positioned itself to thrive in the years to come. We are excited to join their journey.”
Financial details of the transaction were not disclosed.