Stone Point-backed PFSC acquires a majority stake in First Associates.

Stone Point Capital-backed Portfolio Financial Servicing Company(PFSC), a third-party private label servicer of commercial and consumer leases, loans and annuity type transactions acquires a majority stake in First Associates Loan Servicing, a leading loan servicing firm. Financial terms were not disclosed. As a key part of this transaction, First Associates and PFSC, a current Stone Point portfolio company, will combine operations to form an industry leader. The combined organization will continue to specialize in loan and lease servicing, capital markets and customer service support with an exceptional focus on technology and compliance. “Bringing together two industry leaders is always a game-changer,” said John Enyart, PFSC President. “Being able to combine all the knowledge, assets and leadership that PFSC and First Associates have together is an impressive prospect for the broader industry.”