National Default Exchange Dallas, Texas

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Sector: Business Services
Fund: Fund III
Status: Realized
Leadership: Jay Frappier, CEO

As a leading provider of default management services to law firms and loan servicers, NDEx offers such critical operations as default processing, bankruptcy case management, title, conveyance/closing litigation and other services. The Company also complements its default management services with an important list of supporting abilities, including accounting processing and IT services. This enables NDEx’s clients to respond quickly to changing market conditions, without the expense or inconvenience of adjusting staff size.


We assisted NDEx with the execution of an organic growth plan to become a super-regional provider of default and bankruptcy-related processing services. Specifically, NDEx expanded its operations beyond Texas into California, Arizona and Georgia, and the firm’s EBITDA doubled during our investment period. NDEx was successfully exited through a sale to a strategic buyer, Dolan Media.