Goodwin Procter recently advised Clayton Holdings in its sale to Radian Group for $305 million. According to terms of the agreement, Clayton became a subsidiary of Radian. The closing of the transaction was announced on July 1.
Goodwin first advised Clayton as a portfolio company of TA Associates, and later advised on its 2006 IPO and in its subsequent sale to Greenfield Partners in 2008.
Clayton Holdings, based in Shelton, Conn., provides information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities. Clayton s offerings include risk-based analytics, residential and commercial loan due diligence, consulting, surveillance and staffing solutions. The company employs approximately 700 people.
Radian Group Inc., headquartered in Philadelphia, Penn., provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-down payment mortgages in the secondary market. The company is traded on the NYSE under ticker RDN.
The Goodwin team advising on the transaction was led by partners John LeClaire and Matt Walsh, and included associate Nina Chen Thayer.