Ardri Merges with The Lending Spot, Uniting Founders
Deal News | Apr 08, 2025 | EIN
California-based wholesale mortgage lender Ardri has announced a merger with The Lending Spot, a move that unites the founding brothers of the defunct Athas Capital, a former non-QM mortgage lender. Ardri, driven by a technology-centric approach, aims to leverage The Lending Spot's origination expertise to expand its footprint in the non-qualified mortgage market. This merger occurs at a time when non-QM space is witnessing increased activity, largely due to the growing demand in the secondary market. The terms of the deal remain undisclosed, and the merger exemplifies the ongoing active M&A environment within the mortgage industry. As part of its growth strategy, Ardri is putting an emphasis on technology to provide a differentiated value proposition for brokers.
Sectors
- Mortgage Lending
- Financial Technology
- Mergers & Acquisitions
Geography
- United States – The article focuses on two mortgage lending firms based in the United States, particularly in Calabasas, California, highlighting activities and market movements within this region.
Industry
- Mortgage Lending – The article pertains to entities involved in the mortgage lending industry, specifically non-qualified mortgage (non-QM) lending, which caters to borrowers who fall outside traditional lending standards.
- Financial Technology – Ardri's focus on integrating technology into its non-QM lending operations highlights its impact within the fintech sector, offering advanced solutions and services through a tech-centric approach.
- Mergers & Acquisitions – The merger between Ardri and The Lending Spot indicates the article's relevance to M&A activities, particularly within the mortgage lending industry, showcasing trends and strategic partnerships.
Financials
- Undisclosed – The financial terms of the deal between Ardri and The Lending Spot have not been disclosed.
- $5.5 billion – Total funding amount of loans by Athas Capital over its 14 years of operation before it shuttered.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardri | Acquiring Company | Company | A non-qualified mortgage (non-QM) lender based in Calabasas, California, focusing on a tech-centric approach to mortgage lending. |
| The Lending Spot | Target Company | Company | A non-QM mortgage lending firm acquired by Ardri, known for its origination expertise. |
| Brian O'Shaughnessy | Co-founder | Person | Co-founder of Ardri and former co-founder of Athas Capital, involved in the growth and strategic direction of Ardri. |
| Kevin O'Shaughnessy | CEO | Person | CEO of The Lending Spot and former co-founder of Athas Capital, whose leadership facilitated the merger with Ardri. |
| Steve Nadon | President | Person | President of Ardri, responsible for driving early-stage growth and leveraging his extensive mortgage industry experience. |
| Athas Capital | Background | Company | A now-defunct non-QM mortgage lender previously co-founded by the O'Shaughnessy brothers before they launched Ardri and The Lending Spot. |