CIS Group LLC (CIS) Announces the Acquisition of Cornerstone Appraisal Services

IRVING, Texas, Nov. 19, 2010 /PRNewswire/ -- CIS Group LLC, a subsidiary of CIS Holdings LLC and an affiliate of CEP, completed its acquisition of Cornerstone Appraisal Services of Valparaiso, Indiana, effective November 12, 2010.  This acquisition marks the third property inspection services company that CIS Group has acquired, including GPL Solutions in 2005 and Advanced Field Services in 2008.

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"Cornerstone's core products are a perfect complement to our existing field underwriting services," according to Michael Stanley, Chief Executive Officer of CIS Holdings.  "The acquisition of Cornerstone broadens CIS' product offering and gives our clients access to a best-in-class high-value appraisal product.  More importantly, our clients will continue to have the Perfect Customer Experience they associate with CIS Group."

Cornerstone continues CIS Group's consolidation strategy in the field services sector.  "We see an increasing opportunity to add specialty service providers to the CIS portfolio," says David Rollins, President of CIS Group.  "Because CIS conducts over two million inspections a year across the entire United States, servicing most of the top insurance carriers, we believe that consolidating complementary service companies onto the CIS platform will enable us to continue to provide a superior level of service to our customers at extremely competitive prices.  We are passionate about increasing route density with complementary products for our inspector-vendors, and sharing those resulting efficiencies with our vendors and our customers."

"Compass Equity Partners is a vital component in our growth strategy," says Phil Sader, Chief Operating Officer of CIS Holdings.  "They delivered superior results with the Cornerstone transaction and will continue to assist us with acquisition and integration efforts.  In the mean time, we will build on Cornerstone's great reputation and track record of success and continue to provide superior underwriting services to our clients."

"CIS has the right combination of management talent, size and breadth, capital and strategic vision to be the major player in the field services industry," says Keith Jennette, Managing Director of CEP, who led the transaction team.  "We look forward to working with the senior leadership at CIS Group as they continue to build their impressive company."

About CIS Group

CIS Group is the largest provider of field underwriting services to the insurance and banking industries in the United States.  Headquartered in Ft. Worth, Texas, CIS completes more than two million field surveys annually and provides the most comprehensive suite of field reporting services in the marketplace.  With a true national footprint, CIS Group remains committed to providing Best of Breed field services throughout all fifty United States, "One at a Time, On Time, Every Time."  For a closer look, please visit us on the web at www.cisgroup.net.

About Compass Equity Partners

Compass Equity Partners, LLC is an Irving, Texas, based merchant bank and advisory firm.  CEP provides a variety of advisory services to assist companies with strategic initiatives, including mergers, acquisitions and divestures, private placements of institutional debt and equity, post-acquisition integration, operations planning and implementation, and strategic planning.  For a closer look, please visit us on the web at www.compassequitypartners.com.

SOURCE Compass Equity Partners