Community Brands, the leading provider of cloud-based software and payment solutions for associations, nonprofits, and schools, announced that it has signed a definitive agreement for Reverence Capital Partners, a New York-based investment firm, to make a majority investment in Ministry Brands. Ministry Brands is a leading provider of cloud-based software, payments solutions, services and information platforms for churches, ministries and those they serve. Ministry Brands will continue to focus on its vision to improve the way churches and ministries operate, communicate, and engage by providing transformative technology solutions that enable growth and success in the digital age.
As part of the transaction, Ministry Brands becomes a separate standalone company, with material rollover investment from former parent, Community Brands. The two companies will operate independently providing more focused investment for each business’ respective customers, employees, and stakeholders. Additional details of the transaction were not disclosed.
“We are excited to collaborate with the team at Reverence Capital Partners as we take Ministry Brands into its next phase of growth,” said Pat O’Donnell, CEO of Ministry Brands. “The level of expertise and experience they bring to our organization will help accelerate our growth strategies and further support faith-based organizations as they continue reimagining operations, funding, and community engagement in integrated digital environments.”
Founded by Ross Croley of Greater Sum Ventures, Ministry Brands has evolved from a point solution provider of church websites and digital donations in 2012 to an end-to-end ecosystem of leading integrated solutions serving more than 95,000 faith-based organizations. Its suite of software solutions includes church management, online giving, financial accounting, digital engagement, background screenings, and more.
“Ministry Brands has built a best-in-class software and payments solution suite backed by a strong commitment to customer service and desire to innovate,” said Milton Berlinski, Managing Partner, Reverence Capital Partners. “We look forward to working with the team as they continue to understand the evolving needs of their markets and provide solutions for efficient and effective ministry operations.”
William Blair served as the lead financial advisor to Ministry Brands; the company also received financial advice from FT Partners and Credit Suisse. Raymond James served as the exclusive advisor to Reverence Capital. Willkie Farr & Gallagher served as legal advisors for Ministry Brands, and Kirkland & Ellis for Reverence Capital.