DLC to sell majority stake

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Dominion Lending Centres plans to sell majority 60% stake to Calgary-based FCF Capital.

“This is a tremendous opportunity for Dominion Lending Centres to continue to provide exceptional mortgage services for Canadians and expand our reach into other growth areas,” Gary Mauris, President and CEO of Dominion Lending Centres, said. “We will continue to operate under the DLC group of companies with the same values, principles and operating approach that has made DLC Canada’s number one mortgage company.

“I’m excited for our organization to join forces with such a dynamic organization as FCF that will benefit our customers, our network of accredited mortgage professionals, our partners and our corporate team. This partnership will allow us to grow as a company in the markets we serve and both Chris and I look forward to leading the next chapter of DLC’s growth and expansion.”

DLC will continue to operate independently; Gary Mauris, president and CEO, and Chris Kayat, executive vice president, will carry on in their respective roles.

It’s another big move for the network, which earlier this year acquired rival Mortgage Architects.
The investment by FCF can be viewed as a vote of confidence in the brand and, indeed, the mortgage broker industry.
"FCF is delighted that the acquisition of a majority interest in DLC could form FCF's first investment under its new investment thesis,” Stephen Reid, president and CEO of FCF Capital. “DLC represents excellence in the mortgage brokerage and leasing industry and our majority interest in it provides our shareholders with an opportunity to participate in this success story. 

“We believe DLC's highly committed and motivated management team will continue to grow the DLC brand."
  • Michael Lloyd on 2016-05-13 10:05:25 AM

    I think this will be amazing not only for DLC, but our industry. Congratulations to Chris, Gary, the Head Office team and FCF!

  • Jim on 2016-05-13 10:06:56 AM

    This is great...congrats to the DLC team...this is a big achievement and I look forward to see the growth of DLC with this new powerhouse partnership.

  • Bill Nugent on 2016-05-13 10:09:42 AM

    This is going to be a exciting new chapter for DLC Group of Companies and will open more doors for us as a whole as we move forward.

    Looking forward to the future.
    Congratulations Gary, Chris and Jay and the DLC management team

  • @kiltedbroker on 2016-05-13 10:12:42 AM

    Congrats DLC!

  • Ron Butler on 2016-05-13 10:22:12 AM

    Always a step ahead. Congrats to Gary and Chris.

  • Vince Gaetano on 2016-05-13 11:00:00 AM

    Congratulations to Gary, Chris and the DLC team....very well earned.

  • DB on 2016-05-13 11:00:09 AM

    Not that this wont help DLC, but I think Gary and Chris just cashed in their chips and became rich(er).

  • Shaun Serafini @mortgagepro10 on 2016-05-13 11:03:40 AM

    Gary and Chris have worked tirelessly to build the company that DLC has become. Props to them to reap some of the rewards for doing so and for keeping the ability to help move forward with the new chapter for DLC. Exciting news! Congrats to the DLC ownership team and welcome FCF!!

  • Kevin St.Amand on 2016-05-13 11:28:29 AM

    A great move in the DLC story! Congrats to Gary and Chris.

  • Richard Kitts on 2016-05-13 11:43:35 AM

    Congrats Gary & Chris and I am sure this will only enhance our growth with MCC.

  • E on 2016-05-13 1:09:09 PM

    I thought they always said they weren't growing it to sell it but if they have sold 60% they no longer have control. Hopefully it is a good move.

  • Collingwood Andrea on 2016-05-21 12:46:01 AM

    My hat is off to you Doug........ you had a great idea & you invested well my friend!
    Kudos! And I really like the creative way you've handled your post hockey life :)
    Fond memories...

  • Collingwood Andrea on 2016-05-21 12:53:18 AM

    To Doug: Kudos to you my friend, great idea, great post season move!
    Been a long time since the Gardens but I see you made a very wise post career move..... better than the "joint across the street" lol
    Wishing you continued success ......
    Miss those training days!

  • 20% on 2016-05-21 12:25:53 PM

    Gary is a big personality - i dont think owning a minority 20% interest in the company he built equals long term committment. He's out! - with a big bag of money :)

    To the rest of us at "team blue" that he sold - What r we doing monday morning?

  • Gary Mauris on 2016-05-25 1:17:07 AM

    Dear 20%,

    I love this space! We have big plans and I can't wait to prove you wrong like we have many many times before! To our three networks, thank you, the best is yet to come! To our lenders and suppliers, I promise you, we are only getting better and our commitment to you is stronger than ever.

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