IRVINE, Calif.--(BUSINESS WIRE)--
Plutos Sama, LLC is expanding its list of law firm holdings in the first quarter of 2017 as it enters into binding negotiations for the acquisition of The Hunoval Law Firm, a law firm offering default services for its clients in North & South Carolina and Virginia. The Hunoval acquisition is in line with Plutos Sama’s controlled expansion plans. “We are excited about this acquisition that will amplify the comprehensive legal service offerings to our clients on a larger geographic scale,” said Matthew C. Browndorf, CEO of Plutos Sama. “Of greater interest was the quality and professionalism that the Hunoval staff will add to our firm,” Mr. Browndorf adds.
Plutos Sama is a vertically integrated holding company centered around real estate. It operates a panoptic view of counter-cyclical business from origination to default of real estate based lending and equity positions. Plutos Sama derives its success from its entrepreneurial leadership and vertically integrated portfolio companies that share resources among each other to match economies of scale.
Merger of Equals
The BP Law Group family is currently comprised of BP Fisher and BP Peterman. Plutos Sama plans to merge The Hunoval Law Firm into the BP Law Group fold under the name BP Hunoval Law Group. This merger of equals creates a broader geographic presence, heightened responsiveness and enhanced legal expertise to better serve clients’ needs, all through an enterprise-wide shared technology platform, CaseAware. In sum, clients of BP will benefit tremendously from a stronger, united BP family. Plutos Samas’ strategic vision has always been to scale quality with actual growth to maximize the experience and capitalize on opportunities for our clients.
Mr. Browndorf continues, “Hunoval first got on our radar screen with its profile on innovative process management analytics in the March 2014 ABA Journal. BP Law Group and Hunoval share a similar culture and vision for the future of default servicing. With the Hunoval acquisition, we will be able to increase our geographic footprint, creating synergies of scale with a firm that enhances the BP Law Group’s focus on delivering unparalleled quality of service to our clients. It is a win-win for us, for Hunoval, and most importantly, for our clients.”
Matt Hunoval, founder of the Hunoval Law Firm, adds, “We are truly thrilled to be entering into the BP Law family. To thrive in an environment in which overall business has declined precipitously (off 80% since the fall of 2010), while the regulatory and compliance burden continues to increase the only solution is consolidation with deeper capitalization, long-term financial and operational stability and a footprint that is not 1, 2, or 3 states — but a multiple of that. As a member of the North Carolina Banking Commission, I’ve seen the number of state chartered banks go from some 125 pre-housing crisis to around 50 today. The point: to survive & thrive, you must have economies of scale, the right cultural fit, and be capitalized to meet market demands. The forward-thinking vision and management philosophy of Matt Browndorf, his team, and the BP Law Group make an ideal fit for my firm. This is truly a case where 1+1= 3.”
The Hunoval acquisition is expected to close in the second quarter of 2017.
About Plutos Sama, LLC
Plutos Sama, LLC was founded by lawyers from top U.S. law firms with a deep history in global transactions, mergers and acquisitions, distressed assets and civil litigation. Plutos Sama delivers value by providing more than fractional legal advice, it provides comprehensive solutions in multiple sectors and markets.
About BP Law Group
BP Fisher Law Group, LLP is an “AV” rated law firm providing representation to servicers, financial institutions and private investors in connection with their commercial and residential mortgage portfolios. The firm handles foreclosure, bankruptcy, eviction, seller representation for REO sales, loss mitigation, and litigation.
BP Peterman Law Group, LLC provides a full range of default management services to its mortgage banking and mortgage servicing clients throughout most of the United States. The Firm has been active in the industry since the 1990’s and continues to provide its clients with default services including: foreclosure, bankruptcy, eviction, loss mitigation, mediation and litigation. BP Peterman is experienced with FNMA, FHLMC and other GSE loan types; likewise, its staff is trained and experienced to handle a multitude of other file types referred via loan originators and loan servicers.