Stonewood Exits PCN Investment

PITTSBURGH, PA   May 18, 2018

Stonewood Capital Management, Inc., a Pittsburgh-based private equity firm, announced today that its affiliate has sold PCN Network, LLC, a leading provider of closing services for mortgage transactions, to First American Mortgage Solutions, LLC, an affiliate of First American Financial Corporation.  Terms of the transaction were not disclosed.

J. Kenneth Moritz, President of Stonewood Capital, stated that “In exiting our investment in PCN, we have found a natural partner to continue to accelerate the Company’s expected growth.  We are excited for the Company and its management and employees as they go forward.”

About Stonewood Capital:  Stonewood Capital Management, Inc. is a Pittsburgh-based private equity firm seeking investment opportunities primarily with manufacturing, assembly, or distribution companies with sales from $5 to $50 million.