August 8, 2024 — Tomball, TX-based 1876 Partners acquired Maverick Document Signings, Inc. (Mavsign) this week.

Founded in 2007, Mavsign, led by CEO Jeff Eichelberger, grew into one of the country’s leading solutions for remote document closing, ID technology, fraud detection and mitigation services for automotive and recreational dealerships.

The company has managed more than 400,000 contracts for more than 3,000 dealerships, including several of the top-selling dealer groups in the U.S.

The acquisition, made via 1876 Partners Fund 1, LP is the first investment for the new private equity firm which is focused on buyouts of successful B2B  software and technology companies in the lower middle market segment.

Robert Burnett, managing director and co-founder, oversaw more than 90 acquisitions and investments for Reynolds and Reynolds for more than 30 years, announced the formation of 1876 Partners in December 2023 at the annual AUTOVATE conference.

Burnett, and co-founders Jake Stewart and Matt Zachary, also Reynolds veterans, are Texas A&M graduates, and used the year the school was established to come up with the name of the new firm.

Following the acquisition, Valentin Balanescu, a senior executive with Mavsign since 2020, was named president.

Colonnade Securities LLC advised Mavsign on the transaction. Led by CEO Gina Cocking, boutique investment firm Colonnade Securities is the leading bank and advisory firm in the automotive retail space for companies providing financial services advising entrepreneurs, investors, and buyers on more than $10 billion in transactions since 1999.