Keller Williams announced the Greenwich, Connecticut-based private equity firm Stone Point Capital, the parent company of CoreLogic, will take an ownership stake in the Austin-based company.
As part of this transaction, Keller Williams CEO Mark Willis will step down and Christopher Czarnecki, formerly CEO of the REIT Broadstone Net Lease Inc., will lead the company. Company co-founder and Executive Chairman Gary Keller will retain his position and his partial ownership of the company. He framed the move as an opportunity to help ensure the company’s growth and continued individual agent success.
“We’ve built an incredible foundation and as we focus on each agent’s personal development and their continual sales growth, we welcome the partnership and backing from the team at Stone Point Capital,” said Keller in an announcement. “I’m excited for the future and I’m excited to be entering the most prolific writing, teaching, and coaching phase of my 48-year career in real estate. I love this company and I’m not going anywhere.”
“We are very impressed by the business that Keller Williams’ agents and franchisees have built over the past 40 years and are looking forward to partnering with Keller Williams on the company’s next chapter of growth,” said Chuck Davis, chairman & co-CEO of Stone Point Capital. “Gary’s visionary leadership and focus on the success of the real estate agent has created a business that has performed well across many housing cycles. We believe that Keller Williams’ industry-leading agent and franchise network, training resources and technology platform, position the company for continued success in the future, and we are proud to partner with them on the journey ahead.”
Any details? How much ownership will each party have?
I wonder how much money it infused into the company