Mergers and acquisitions

Apache is functioning normally

“According to the research report, the global wall art market was valued at USD 54.09 billion in 2022 and is expected to reach USD 88.66 billion by 2032, to grow at a CAGR of 5.1% during the forecast period.”

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The report investigates the competitive positioning of Wall Art Market key players in terms of their capacities, gross margin, price, product, pricing, financial situation, share, product portfolio, demand, sales, and geographical presence. Some of the tactics used by players in the sector include mergers and acquisitions, alliances and collaborations, and product launches. Leading companies are investing in efficient R&D to create new products and succeed in the market. Our vendor landscape analysis provides a thorough analysis that will enable you to keep one step ahead of your rivals.

Who are the Top Companies/Manufacturers/Players in the Worldwide Industry?

  • VGL Group
  • Art.com
  • Uprise Art
  • Saatchi Art
  • Society6
  • Minted
  • Artsy
  • 1stdibs.com
  • Artnet Worldwide
  • Artspace.

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Crucial contents analyzed and discussed in the report include Wall Art Market size, current & future development trends, market dynamics, import volumes, key players, industry structure, business development, and consumption tendencies. The study provides market dynamics, such as key drivers, restraints/challenges, Wall Art Market trends, and their effects on the market throughout the forecast period. The research demonstrates the contribution of various types/application segments to the market. The study takes a close look at changes, consumer expectations, technical advancements, competitive dynamics, and capital running in the industry.

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Many factors affect the market differently in each location, and these factors are highlighted in the reports analysis by geography.

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The research lists the opportunities and risks that suppliers in the business must deal with.

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What Are the Major Trends Identified in The Market by This Report, And How Can Businesses Leverage These Trends for Strategic Advantage?

The study provides an industry assessment for the present and the future, taking into account recent changes, drivers, challenges, growth potential, and restrictions in both developing and emerging regions. The research then goes into great detail on the value chain and its analysis of distributors. It aims to increase readers understanding of the markets scope and applications globally.

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North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and the rest of South America)

The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)

What Are the Key Takeaways and Actionable Insights That Businesses Can Gain from This Report?

Furthermore, the report includes information on import/export consumption, supply and demand, price, revenue, and gross margins. The reports conclusion also contains in-depth SWOT and Porters Five Forces analyses of the Wall Art Market segmentation anticipated to generate the highest levels of profit. The research then covers the industrys cost structures, economic environment, and industrial policy. Additionally, it researches the major buyers, producers, and distributors of raw materials, etc. The forecast information provided in this study helps you better understand the anticipated Wall Art Market growth and development status.

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  • The report helps buyers understand all current and future probabilities in the Wall Art Market along developed as well as developing economies.
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Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.

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COMTEX_440635727/2599/2023-09-21T05:30:53

Source: benzinga.com

Apache is functioning normally

Residential sale-leaseback platform EasyKnock continues to gobble up proptech startups. Home maintenance company Onder is EasyKnock’s latest acquisition, according to GeekWire, which first reported the story.

The terms of the acquisition were not disclosed.

Founded in 2021, Onder sells a subscription-based home maintenance service that deploys technicians to help with both interior and exterior property maintenance. Customers can request help for HVAC cleaning, plumbing, painting, power washing, gutter cleaning, and roof repair, and it covers more than 100 homes.

Onder raised an undisclosed amount of venture capital including a pre-seed round led by Rackhouse Ventures in 2021, but in late 2022, as the housing market slowed and economic uncertainty rose, the flow of venture capital funds slowed.

“The venture capital environment continued to be a headwind and we had been operating with very little margin for error,” David Krieger, the CEO and co-founder of Onder, told GeekWire in an email. “[S]o when we evaluated the landscape with our advisors, it just made sense to include mergers and acquisitions as an attractive path forward.”

Krieger said customers will not experience an interruption in their service due to the acquisition.

Through the acquisition, Onder’s services will be offered to EasyKnock’s customers. In a statement, EasyKnock said the acquisition is part of its larger goal of creating the “first nationwide property maintenance platform for homeowners.”

Kreiger and Onder’s employees (numbering fewer than 10) will join EasyKnock, and Kreiger will serve as EasyKnock’s chief product strategy officer.

EasyKnock received $57 million in venture capital last year. Investors included Blumberg Capital, Gaingels, Moderne Ventures, QED Investors, Viola FinTech, and Zillow founder, Spencer Rascoff’s venture firm 75 & Sunny.

In May, EasyKnock acquired struggling power buyer firm Ribbon for an undisclosed amount.

Source: housingwire.com

Apache is functioning normally

An exit strategy is a plan to leave an investment, ideally by selling it for more than the price at which it was purchased.

Individual investors, venture capitalists, stock traders, and business owners all use exit strategies that set specific criteria to dictate when they’ll get out of an investment. Every exit strategy plan is unique to its situation, in terms of timing and under which conditions an exit may occur.

What Is an Exit Strategy?

Broadly speaking, the exit strategy definition is a plan for leaving a specific situation. For instance, an employee who’s interested in changing jobs may form an exit strategy for leaving their current employer and moving on to their next one.

What is an exit strategy in a financial setting? In this case, the exit strategy definition is a plan crafted by business owners or investors that cover when they choose to liquidate their position in an investment. To liquidate means to convert securities or other assets to cash. Once this liquidation occurs, the individual or entity that executed the exit strategy no longer has a stake in the investment.

Creating an exit strategy prior to making an investment can be advantageous for managing and minimizing risk. It can also help with defining specific objectives for making an investment in the first place. In other words, formulating your exit strategy beforehand can give you clarity about what you hope to achieve.

Exit strategies often go overlooked, however, as investors, venture capitalists, and business owners may move ahead with an investment with no clear plan for leaving it.
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How Exit Strategies Work

Investors use exit strategies to realize their profit or to mitigate potential losses from an investment or business. When creating an exit strategy, investors will typically define the conditions under which they’ll make their exit.

For instance, an exit strategy plan for investors may be contingent on achieving a certain level of returns when starting to invest in stocks, or reaching a maximum threshold of allowable losses. Once the contingency point is reached, the investor may choose to sell off their shares as dictated by their exit strategy.

A venture capital exit strategy, on the other hand, may have a predetermined time element. Venture capitalists invest money in startups and early stage companies. The exit point for a venture capitalist may be a startup’s IPO or initial public offering.

Again, all exit strategies revolve around a plan. The mechanism by which an individual or entity makes their exit can vary, but the end result is the same: to leave an investment or business.

When Should an Exit Strategy Be Used?

There are different scenarios when an exit strategy may come into play. For example, exit strategies can be useful in these types of situations:

•   Creating a succession plan to transfer ownership of a profitable business to someone else.

•   Shutting down a business and liquidating its assets.

•   Withdrawing from a venture capital investment or angel investment.

•   Selling stocks or other securities to minimize losses.

•   Giving up control of a company or merging it with another company.

Generally speaking, an exit strategy makes sense for any situation where you need or want to have a plan for getting out.

Exit Strategy Examples

Here are some different exit strategy examples that explain how exit strategies can be useful to investors, business owners, and venture capitalists.

Exit Strategy for Investors

When creating an exit strategy for stocks and investing, including how to buy stocks, there are different metrics you can use to determine when to get out. For example, say you buy 100 shares of XYZ stock. You could plan your exit strategy based on:

•   Earning target return from the investment

•   Realizing a maximum loss on the investment

•   How long you want to stay invested

Say your goal is to earn a 10% return on the 100 shares you purchased. Once you reach that 10% threshold you may decide to exit while the market is up and sell your shares at a profit. Or, you may set your maximum loss threshold at 5%. If the stock dips and hits that 5% mark, you could sell to head off further losses.

You may also use time as your guide for making an exit strategy for stocks. For instance, if you’re 30 years old now and favor a buy-and-hold strategy, you may plan to make your exit years down the line. On the other hand, if you’re interested in short-term gains, you may have a much shorter window in which to complete your exit strategy.

Exit strategies can work for more than just stock investments. For instance, you may have invested in crowdfunding investments, such as real estate crowdfunding or peer-to-peer lending. Both types of investments typically have a set holding period that you can build into your exit plan.

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Exit Strategy for Business Owners

An exit strategy for business owners can take different forms, depending on the nature of the business. For instance, if you run a family-owned business then your exit strategy plan might revolve around your eventual retirement. If you have a fixed retirement date in mind your exit plan could specify that you will transfer ownership of the business to your children or sell it to another person or company.

Another possibility for an exit strategy may involve selling off assets and closing the business altogether. This is something a business owner may consider if the business is not turning a profit, and it looks increasingly unlikely that it will. Liquidation can allow a business owner to repay their creditors and walk away from a failed business without having to file bankruptcy.

Exit Strategy for Startups

With startups and larger companies, exit strategies can be more complex. Examples of exit strategy plans may include:

•   Launching an IPO to allow one or more founders to make an exit

•   A merger or acquisition that allows for a transfer of ownership

•   Selling the company

•   Liquidating assets and shutting the company down

If a founder is ready to move on to their next project, they can use an IPO to leave the company intact while extricating themselves from it. And angel investors or venture capitalists who invested in the company early on also have an opportunity to sell their shares.

Startup exit strategies can also create possible opportunities for some investors. IPO investing allows investors to buy shares of companies when they go public.

The mechanics of using an IPO as an exit strategy can be complicated, however. There are IPO valuations and regulatory requirements to consider.

It’s important for startup founders to know how to value a business before taking it public to ensure that an IPO is successful. And early-stage investors may have to observe IPO lock-up period restrictions before they can sell their shares.
💡 Quick Tip: IPO stocks can get a lot of media hype. But savvy investors know that where there’s buzz there can also be higher-than-warranted valuations. IPO shares might spike or plunge (or both), so investing in IPOs may not be suitable for investors with short time horizons.

5 Types of Exit Strategies

There are different types of exit strategies depending on whether you’re an investor, a business owner, or a venture capitalist. Some common exit strategies include:

1. Selling Shares of Stock

Investors can use an exit strategy to set a specific goal with their investment (say, 12%), reach a certain level of profit, or determine a point at which they’ll minimize their loss if the investment loses value. Once they reach the target they’ve set, the investor can execute the exit strategy and sell their shares.

2. Mergers and Acquisitions

With this business exit strategy, another business, often a rival, buys out a business and the founder can exit and shareholders may profit. However, there are many regulatory factors to consider, such as antitrust laws.

3. Selling Assets and Closing a Business

If a business is failing, the owner may choose to liquidate all the assets, pay off debts as well as any shareholders, if possible, and then close down the business. A failing business might also declare bankruptcy, but that’s typically a last resort.

4. Transferring Ownership of a Business

This exit strategy may be used with a family-run business. The owner may formulate an exit plan that allows him to transfer the business to a relative or sell it at a particular time so that he or she can retire or do something else.

5. Launching an IPO

By going public with an IPO, the founder of a startup or other company can leave the company if they choose to, while leaving the business intact. As noted, using an IPO as an exit strategy can be quite complicated for business founders and investors because of regulatory requirements, IPO valuations, and lock-up period restrictions.

Why Exit Strategies Are Important

Exit strategies matter because they offer a measure of predictability in a business or investment setting. If you own a business, for example, having an exit strategy in place that allows you to retire on schedule means you’re not having to work longer than you planned or want to.

An exit strategy for investors can help with staying focused on an end goal, rather than following the crowd, succumbing to emotions, or attempting to time the market. For example, if you go into an investment knowing that your exit plan is designed to limit your losses to 5%, you’ll know ahead of time when you should sell.

Using an exit strategy can prevent doubling or tripling losses that could occur when staying in an investment in the hopes that it will eventually turn around. Exit strategies can also keep you from staying invested too long in an investment that’s doing well. The market moves in cycles and what goes up eventually comes down.

If you’re on a winning streak with a particular stock, you may be tempted to stay invested indefinitely. But having an exit strategy and a set end date for cashing out could help you avoid losses if volatility sends the stock’s price spiraling.

How To Develop an Exit Strategy Plan

Developing an exit strategy may look different, depending on whether it involves an investment or business situation. But the fundamentals are the same, in that it’s important to consider:

•   What form an exit will take (i.e. liquidation, IPO, selling shares, etc.)

•   Whether an exit is results-based or time-based (i.e. realizing a 10% return, reaching your target retirement date, etc.)

•   Key risk factors that may influence outcomes

•   Reasons and goals for pursuing an exit strategy

If you’re an individual investor, you may need to formulate an exit plan for each investment you own. For instance, how you exit from a stock investment may be different from how you sell off bonds. And if you’re taking on riskier investments, such as cryptocurrency, your exit strategy may need to account for the additional volatility involved.

For business owners and founders, exit strategy planning may be a group discussion that involves partners, members of the board, or other individuals who may have an interest in the sale, transfer, or IPO of a company. In either situation, developing an exit strategy is something that’s best done sooner, rather than later.

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FAQ

What are different exit strategies?

Examples of some different exit strategies include selling shares of a stock once an investor realizes a certain return or profit, transferring ownership of a family business so an owner can retire, or selling all the assets and closing down a failing business.

What are the most common exit strategies?

The most common exit strategies depend on whether you’re an investor, the owner of an established business, or the founder of a startup. For investors, the most common exit strategy is to sell shares of stock once they reach a certain target or profit level. For owners of an established business, the most common exit strategy is mergers and acquisitions, because doing so is often favorable to shareholders. For founders of startups, a common exit strategy is an initial public offering (IPO).

What is the simplest exit strategy?

For an investor, the simplest exit strategy is to sell shares of stock once they reach a certain profit or target level of return. At that point they can sell their shares for more money than they paid for them.

Photo credit: iStock/Christian Guiton

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Source: sofi.com

Apache is functioning normally

After failing to achieve its goal of remaining adjusted EBITDA positive in 2022, analysts were unsure if Compass would make good on its most recent financial goal of becoming free cash flow positive in the second quarter of 2023. But the Robert Reffkin-helmed brokerage has proved the naysayers wrong, at least for now.

During the second quarter of 2023, Compass recorded a free cash flow of $51 million, compared to a free cash flow loss of $59 million the prior quarter. Kalani Reelitz, the firm’s chief financial officer, also noted that Compass repaid the remaining $150 million draw it had taken out form its revolving credit facility in July.

“I am pleased to share that in the second quarter we grew market share, grew agent count and grew margin while delivering positive free cash flow and strengthening our cash position,” Reffkin told investors and analysts listening to Compass’ second quarter earnings call Monday evening. “We achieved strong financial results that were inline with guidance in the midst of a quarter that was impacted by mortgage rates increasing 100 basis points to 7%.”

Executives attributed this success to Compass’ commitment to cutting operating expenses, which came in at $1.54 billion for the quarter. A year ago, its Q2 operating expenses were $2.11 billion.

Compass’ free cash flow win came despite a 26% annual drop in revenue to $1.5 billion, which the brokerage attributed to a 19% year-over-year decrease in transaction sides to 54,207, combined with a decrease in the average home sale price, as the brokerage’s gross transaction value dropped 26% year over year to $56.8 billion.

While Compass may have been free cash flow positive for the quarter, the brokerage still reported a net loss of $46.9 million. However, this is an improvement compared to the $101 million net loss reported a year ago.

Compass executives were also pleased that the firm’s free cash flow success came alongside its third consecutive quarter of market share growth, which came in at 4.6% for the quarter, up 13 basis points from Q1 2023. In addition, Compass also reported an increase of 429 principal agents compared to a year ago and a retention rate of over 90%.

“We are seeing competitors reduce the financial incentives they were using in attempt to recruit Compass agents and a race to the bottom environment where many traditional brokerages that historically competed on value-add and support services,” Reffkin said. “We are now seeing these firms cut back on these areas and many cases are adding themselves to the already crowded low cost, low value brokerage services landscape. Compass is going the other direction. We are trying to widen our competitive advantage as the high value brokerage space is becoming much less crowded.”

Reffkin said that it would not surprise him that in the years to come, Compass being “the only major national brokerage competing to serve agents high value products and services.”

Greg Hart, Compass’ chief operating officer, added: “We continue to grow our principal agent count since we eliminated cash and equity sign on incentives last summer. The vast majority of agents tell us the Compass platform is the number one reason for coming to Compass.”

Compass will continue looking for expansion opportunities through strategic mergers and acquisitions, executives said.

The brokerage’s next goal is to remain free cash flow positive for the full year 2023. Executives said they’ll continue to focus on Compass’ technology offerings, as well as expanding its title and escrow business integration, which recently launched in San Diego.

By the end of 2023, Compass plans to expand this integration into all markets where it offers title and escrow including Philadelphia, Washington, D.C., Maryland and Virginia.

“We are very strong and we are still investing in growth in the platform,” Reffkin said. “We are excellently positioned for the cyclical upturn that will come when the market normalizes.”  

Source: housingwire.com

Apache is functioning normally

National lender and construction-loan specialist American Financial Resources announced Monday it had agreed to the business’ sale to an investment group led by a Denver-based fund manager.

The Parsippany, New Jersey-based mortgage company who offers wholesale, correspondent and consumer-direct channels, will sell 100% of the business to Proprietary Capital, whose institutional platform gives investors exposure to the residential mortgage market and related assets. 

“With the support and investment of Proprietary Capital, AFR will begin a new phase of rapid growth that will directly benefit our borrowers, wholesale and correspondent clients, and employees,” said American Financial CEO Rich Dubnoff in a press release. 

Stratmor Group served as an advisor to AFR in the sale. Terms of the acquisition were not disclosed and are subject to state and regulatory approvals.

Originally founded in 1997 by current chief administrative officer Corey Dubnoff, AFR found a specialized niche within the mortgage industry by offering several different types of loan products supporting homebuilding, including single-close construction-to-permanent, renovation and manufactured home mortgages. The company also offers non-QM products, in addition to conventional and government-sponsored loans.

Also founded in 1997, Proprietary Capital has focused on delivering returns to investors primarily through various segments of the U.S. residential mortgage market. “With the acquisition of AFR, we will build on our already strong mortgage platform,” said Craig Cohen, managing member of the alternative investment management firm. 

“With the addition of AFR’s robust operational platform, loyal customer base, long-term dedicated employees, and their breadth of products and services, we will catapult our growth for many years to come,” Cohen added.

AFR’s deal adds another transaction to the growing list of mergers and acquisitions that have emerged in the past 12 months. While the majority of deals have ended up combining nonbank home lenders, the timeline of events also involves agreements between insurance companies, servicers, secondary market platforms and fintechs and other mortgage technology providers. 

Meanwhile, the home lending industry continues to follow developments of the proposed merger between technology giants Black Knight and ICE Mortgage Technology. This week the deal scored a win when the Federal Trade Commission dropped its case against the companies. They had previously agreed to offload Black Knight assets, including the Empower loan-origination system and product-pricing engine Optimal Blue.

Source: nationalmortgagenews.com

Apache is functioning normally

A divestiture, also known as a divestment, involves the liquidation of a company’s assets, such as building or intellectual property, or a part of its business, such as a subsidiary. This can occur through several different means, including bankruptcy, exchange, sale, or foreclosure.

Divestitures can be partial or total, meaning some or all of the company could be spun off or otherwise divested, depending on the reason for the company getting rid of its assets. Corporate mergers and acquisitions are a common example of one type of divestiture.

What Are Reasons a Company Would Divest Itself?

Often a divestiture reflects a decision by management that one part of the business no longer helps it meet its operational goals. A divestiture can be an intelligent financial decision for a business in certain situations.

If one aspect of a business (e.g., a product line or a subsidiary) isn’t working, has become unprofitable, or is likely to soon consume more capital than it can create, then instead of letting that be a continued drain on resources, a company can divest.

This not only does away with the troublesome aspect of the company, but also frees up some money the company can put toward more productive endeavors, such as new research and development, marketing, or new product lines.

There are many other potential reasons for a company to divest itself of a particular aspect of its business as well. The growth of a rival may prove overwhelming and insurmountable, in which case divesting might make more sense than continuing to compete.

A company may choose to undergo a divestment of some sort, such as closing some store locations, in order to avoid bankruptcy, to take advantage of new opportunities, or because new market developments might make it difficult for part of the company to survive.

Companies also sometimes must divest some of their business because of a court order aimed at breaking up monopolies. This can happen when a court determines that a company has completely cornered the marketplace for its goods or services, preventing fair competition.

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What Happens in a Divestiture?

When a divestiture involves the sale of part or all of a company, the process has four parts. The first two parts involve planning for the actual divestment transaction itself. Once management decides which part of the company to divest and who will be buying it, the divestment can begin.

1. Monitoring the Portfolio

When pursuing an active divestiture strategy, the company’s management team will review each business unit and try to evaluate its importance to the company’s overall business strategy. They’ll want to understand the performance of each part of the business, which part needs improvement, and if it might make sense to eliminate one part.

2. Identifying a Buyer

Once the business identifies some or all of the company as a potential divestment target, the team moves on to the next problem that logically follows: Who will buy it?

The goal is to find a buyer that will pay enough for the business to cover the estimated opportunity cost of not selling the business unit in question. If the buyer does not have the liquidity to make the purchase with cash, they might offer an equity deal or borrow money to cover the cost.

3. Executing the Divestiture

The divestiture involves many aspects of the business, including a change of management, company valuation, legal ownership, and deciding which employees will remain with the company and which ones will have to leave.

4. Managing the Financials

Once the sale closes, attention turns to managing the transition. The transaction appears on the company’s profit-and-loss statement. If the amount that the company receives for the asset it sells is higher than the book value, that difference appears as a gain. If it’s less the company will record it as a loss.

The company will typically share the net impact of the divestiture in its earnings report, following the transaction.

What Are The Different Types of Divestitures?

There are several different ways companies can define divest for themselves. A few of these options include:

•   An equity carve-out, when a company can choose to sell a portion of its subsidiaries through initial public offerings but still retain full control of them.

•   A split-up demerger, when a company splits in two, and the original parent company ceases to be.

•   A partial sell-off, where a business sells one of its subsidiaries to another company. The funds from the sale then go toward newer, more productive activities.

•   A spin-off demerger, in which a company’s division becomes a separate business entity.

What Causes a Company to Divest?

A divestiture strategy can be part of an overall retrenchment strategy, when a company tries to reinvent itself by slimming down its activities and streamline its capital expenditures. When that happens, the company will divest those parts of the business that are not profitable, consuming too much time or energy, or no longer fit into the company’s big-picture goals.

Factors that could influence a company to adopt a divestiture strategy can be lumped into two broad groups:

External Developments

External developments include things outside the company, such as changing customer behavior, new competition, government policies and regulations, or the emergence of new disruptive technologies.

Internal Developments

Internal developments include situations arising from within the company, such as management problems, strategic errors, production inefficiencies, poor customer service, etc.

Divestiture Strategy Example

Imagine a fictitious company called ABC was the parent of a pharmaceutical company, a cosmetic company, and a clothing company. After some time and analysis, ABC’s management determines that the company’s financials have begun deteriorating and they need to make a change in the business.

Following the four-step process above, they begin by finding the weakest points of business. Eventually, they decide that the pharmaceutical branch of the company is under-performing and would also be the easiest for the company to divest. It makes more sense to stick to clothing and cosmetics.

After identifying a buyer (perhaps a larger pharmaceutical company or a promising startup looking to expand), the divestment transaction occurs. The employees who work in the pharmaceutical branch either lose their jobs, or they get roles working for the new owner of that part of the business. The cash infusion that ABC gets as a result of the sale of its pharmaceutical branch will go toward new marketing efforts and creating new product lines.

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The Takeaway

Divesting is essentially the opposite of investing. It involves a company selling off parts of its business. A divestiture can have some positive outcomes on the value of a company, and there are several business reasons that a company would choose to divest. Depending on the circumstances, this process could theoretically be either a positive or a negative for shareholders.

Investors could see news of a divestment as a sign that a company is struggling, leading them to sell the stock. While this initial reaction could be one likely outcome, the company could eventually wind up doing even better than before if it manages itself better as a leaner company. In either case, the divestiture is one factor that investors can use in their analysis of that company’s stock.

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Apache is functioning normally

The executive shake ups in the brokerage space are continuing this week, with Compass announcing that Mark McLaughlin is returning to the firm to serve as Chief Real Estate Strategist.

McLaughlin previously became a key member of Compass in 2018 when the brokerage purchased his firm, Pacific Union, for north of $80 million. He ultimately left Compass in 2021. During his time at Compass, he led the firm’s California operation and helped lead many mergers and acquisitions, and helped introduce ancillary services such as mortgage, as well as title and escrow into the firm.

Mark McLaughlin

In addition, during his time as CEO of Pacific Union, he navigated the firm through 12 mergers and acquisitions, leading the firm to eventually become the largest independent brokerage in California in 2018 with over 2,000 agents, according to the release.

“Mark reflects the best of real estate leadership. His deep experience and track record building successful real estate businesses are huge assets, and we are very excited to welcome him back to the Compass family,” Robert Reffkin, the founder and CEO of Compass, said in a statement.

In his new consulting role at Compass, McLaughlin said he will work to maintain Compass’ agent-centric focus, by collaborating with local leaders and real estate professionals.

“Returning to Compass allows me to continue to give back to an industry I love at a company where I have a passion for success. I can make a difference in our pursuit of greatness at Compass,” McLaughlin said in a statement. “As a performance-based entrepreneur, I am excited to be a part of a great company invested in being even better for all its stakeholders.”

McLaughlin is also president of McLaughlin Ventures and is on the board of directors at Realfinity and Milestones Labs.

Source: housingwire.com

Apache is functioning normally

PrimeLending, a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment.

The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. Licensed in 23 states across the country, PrimeLending has 150 branches including satellite and primary retail locations.

“We are dialing down data, metrics and information that allow us to target communities and markets where we again think we have a competitive advantage and we’re using that strategy across the country,” Gene Lugat, executive vice president of strategic support at PrimeLending, said in an interview.

“Companies may be struggling in one way or another. We’ll reach out to those loan officers in markets where we have existing retail branch locations. We’re certainly putting out in both the social media and through our local retail offices that we want the right loan officers,” Lugat added.

While mergers and acquisitions (M&A) is an option for PrimeLending, it’s a challenging market to execute such deals. Instead, tapping high-volume loan officers in targeted locations has worked for PrimeLending.

“We would prefer to be picking up the loan officers without the branches, without physical locations,” Lugat noted. “Because we’re trying to backfill into where we have existing retail opportunities and we have space.”

PrimeLending sees an opportunity to grow in the entire Southwest region and Texas in particular, where the lender is headquartered. The goal is to expand its overall market share to 1% this year from 0.6%.

PrimeLending, led by president and CEO Steve Thompson, ranked as the 34th largest mortgage lender in the first quarter of 2023, with an estimated origination volume of $1.73 billion, a 54% decline from $3.76 billion in Q1 2022 (which was roughly in line with industry peers). Production dropped about 15.2% from the fourth quarter of 2022’s $2.04 billion, according to data from Inside Mortgage Finance.

The target client base for PrimeLending is first-time homebuyers, as the entire industry is struggling to overcome the lock-in effect. Nearly 92% of U.S. homeowners with mortgages have an interest rate below 6%, according to Redfin. 

While the 30-year fixed-rate mortgages are the bread-and-butter products for PrimeLending (accounting for about 95% of origination volume), down payment assistance programs, renovation loans and temporary rate-buydowns have become popular options for buyers, Lugat noted.

Competition in the industry is even more fierce with the number of mortgage transactions expected to drop to 5 million in 2023 from 16 million in 2019, Lugat said, citing data from the Mortgage Bankers Association (MBA).

A combination of higher loan amounts, cash buyers and a radical drop of refi volume add to the difficulty of today’s environment. 

“This is a battle for a very finite amount of buyers that are entering into this space. (…) You have to be presenting your borrowers in the best possible light just to get their contracts accepted, pre-qualifying borrowers and trying to get them in an approved subject to appraisal and any other condition so they can be in a position to win,” Lugat said. 

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

New York, US, May 24, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Home Decor Market Information by Product Type, Distribution Channel and Region- Forecast till 2032”, the global home decor market was estimated to be worth USD 926.1 billion in 2022. The home decor market is expected to increase from USD 964.9 billion in 2023 to USD 1341.1 billion by 2032, at a compound annual growth rate (CAGR) of 18.20% between 2023 and 2032. Rising building, remodelling, and remodelling activities in residential and commercial regions are one of the primary industry drivers currently supporting the market.

Home Decor Market Overview:

Smartphones are useful for acquiring home décor products such as wall art, cushions, curtains, and figurines from various online e-commerce websites. According to The Economic Times, an Indian business journal, by October 2021, India will have the highest mobile data consumption rate in the world, with each user consuming 12 gigabytes per month, and the country is adding 25 million new smartphone users every three months. Furthermore, according to Bankmycell, a mobile phone pricing comparison website based in the United States, 6.37 billion people (80.76% of the world’s population) will be using smartphones in 2021. As a result, as smart gadgets grow more popular, the market CAGR for home decor is increasing.

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Report Scope:

Report Attribute Details
2032 Market Size USD 1341.1 Billion
CAGR 18.20% (2023–2032)
Base Year 2022
Forecast Period 2023-2032
Historical Data 2018-2022
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Product Type, Distribution Channel and Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Increase in online expenditure and use of smartphones
Increasing demand for green home décor products

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Strategic partnerships and collaborations have emerged as a key trend in the home decor business. To maintain their market position, key players in the home decor business are focusing on strategic alliances and partnerships. For example, in April 2022, Dabito, a designer, photographer, artist, and the proprietor of Old Brand New, partnered with Mitzi, a home decor firm situated in the United States. This collaboration resulted in the production of 12 new Mitzi pieces that are equally sleek, modern, and appealing, ranging from wall sconces to chandeliers. In addition, in April 2022, Ruggable, a pioneering washable rug maker based in the United States, will join with Keith Haring Studio to create a collection of 15 chenille rugs and 9 doormats adorned with the late American artist’s distinctive line drawings.

Ruggable rugs are constructed of a machine-washable top layer that is easily separated from a cushioned base. As a result, the home decor market revenue is increasing.

Key Companies in the home decor market include

  • Ashley Furniture Industries Inc.
  • Duresta Upholstery Ltd.
  • Forbo Holding AG
  • Herman Miller Inc.,
  • Inter IKEA Systems B.V.
  • Kimball International Inc.
  • Koninklijke Philips N.V.
  • Mannington Mills Inc.
  • Mohawk Industries Inc.
  • Hanssem Co., Ltd.
  • Siemens AG
  • Springs Window Fashions, LLC
  • Suofeiya Home Collection Co., Ltd.
  • Samson Holding Ltd
  • Shaw Industries Group Inc. (Berkshire Hathaway Inc.)
  • Sophia Home

Market Segmentation:

The worldwide home décor market is classified by product type, distribution channel, and geography.

The home décor market is divided into four product categories: home furniture, home textiles, flooring, wall décor, lighting, and others. The market was dominated by the home furniture category.

The home décor market is divided into four distribution channels: Home Décor Stores, Supermarkets and Hypermarkets, Online Stores, Gift Shops, and Others. The most money was made in the home décor stores category.

Browse In-depth Market Research Report (128 Pages) on Home Décor Market: https://www.marketresearchfuture.com/reports/home-decor-market-11525

Regional Analysis:

The home décor market is divided into four regions: North America, Europe, Asia-Pacific, and the Rest of the World.

Because of the population shift to urban areas, the Asia Pacific home decor industry will dominate this market. The area’s real estate industry is fast increasing, indicating that new homes and structures are being constructed. As a result of new construction, the market is flooded with innovative and creative décor products. Furthermore, the growing tendency of using waste materials to provide a contemporary appeal has boosted the trend of waste material utilisation. As a result, the level of innovation in home décor products has increased.

From 2023 to 2032, Europe’s home decor market is predicted to develop at the quickest CAGR. The bulk of uses for home decor are in the residential industry, followed by the European business market.

As a result of a growth in the usage of design goods for residential applications, Spain currently maintains the top revenue rank in the global market for home décor. Government laws also require that hospital furniture be specially designed and manufactured. Furthermore, the German home décor market had the highest market share, while the UK home decor industry was the fastest expanding in the European region.

The home decor market in North America is the second largest in the world. The market’s growth can be due to increased product availability as well as increased online and offline home décor channel penetration. The use of various décor products, such as furniture, lighting, decorative flooring, and textiles, is most common in the region, which has a sizable market participant base. Furthermore, the United States had the biggest market share, while Canada had the fastest expanding market in the Asia-Pacific region.

Leading market players are extensively spending in R&D to extend their product lines, which will help the home decor market grow even more. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organisations. To grow and thrive in a more competitive and increasing market climate, the home decor sector must provide low-cost items.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Source: globenewswire.com