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Residential Mortgage Services, Inc. Receives Growth Equity Investment from Eos Partners


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2013-10-29 06:01:06 - South Portland, Maine - October 28, 2013 - Residential Mortgage Services, Inc. (“RMS”), a leading independent retail mortgage bank focused on the New England residential market, received a significant capital infusion from Eos Partners, L.P. and its affiliates (collectively, “Eos”), a New York based private investment firm.  The investment more than doubled RMS’s capital base and will provide funding for RMS’s retail expansion strategy, as it seeks to bolster its presence in the New England purchase market and expand into new markets.  Bigelow LLC (“Bigelow”) advised RMS in connection with the transaction.

South Portland, Maine - October 28, 2013 - Residential Mortgage Services, Inc. RMS, a leading independent retail mortgage bank focused on the New England residential market, received a significant capital infusion from Eos Partners, L.P. and its affiliates (collectively, “Eos, a New York based private investment firm.  The investment more than doubled RMS’s capital base and will provide funding for RMS’s retail expansion strategy, as it seeks to bolster its presence in the New England purchase market and expand into new markets.  Bigelow LLC Bigelow advised RMS in connection with the transaction.
 
Commenting on the transaction, Jim Seely, majority owner and CEO of RMS noted, “RMS has achieved tremendous growth over the past five years.  This investment will allow RMS to

continue that growth, enhance its product offerings and provide consistently high levels of customer service for our borrowers and the real estate professionals we work with every day.  We are excited to partner with Eos to build a bigger and stronger enterprise providing our employees, customers, and referral community the opportunity to grow and benefit from the company’s continued success
 
After giving effect to the transaction, RMS’s senior management team continues to collectively maintain majority ownership of the company.
 
“We look forward to working with Jim and the entire RMS management team to help the Company capitalize on the many opportunities it has before it, both internally and externally, within and outside of New England said Brendan Moore, Managing Director at Eos.  “We are impressed with the RMS team and the company they have built, and believe this is a unique time to invest in this sector
 
About RMS
Residential Mortgage Services, Inc. is a leading independent retail mortgage bank focused on the New England residential market.  The Company is currently the largest “purchase money” lender in the Maine and New Hampshire markets, and is a top five player in the Massachusetts purchase market.  Through its network of over 30 regional field offices located throughout New England, the professionals at RMS strive to make the “last mile” of home ownership as simple and straightforward as possible.  Thousands of families have relied on the Company’s expert advice, broad product selection, and high level of personal attention to achieve their home ownership dreams.  Since 2010, RMS has closed over 24,000 loans with an aggregate value in excess of $5.3 billion.  For more information, please visit www.rmsmortgage.com.
 
About Eos Partners
Formed in 1994, Eos Partners is a private investment firm with approximately $1 billion of private equity capital and commitments to invest alongside outstanding managers in growing companies. Eos focuses on working closely with management teams, and committing its understanding of strategic alternatives and the financial markets to help grow these businesses into larger scale, leading enterprises.  For more information, please visit www.eospartners.com.
 
About Bigelow
Originally established in 1935, Bigelow LLC is an independently owned M&A advisory boutique with a singular and passionate focus: entrepreneur owner-managed businesses.  Bigelow has a reputation for having a unique understanding of the special requirements of the owner-managed, entrepreneurial operating company in building, and ultimately capturing enterprise value.  For more information, please visit www.bigelowllc.com.


Contact Information:
Residential Mortgage Services, Inc.

24 Christopher Toppi Drive

South Portland, ME 04106

Contact Person:
James R. Seely
contact
Phone: (207) 775-6105
email: email

Web: www.rmsmortgage.com



Author:
Steven Dubin
e-mail
Web: www.PRWorkZone.com
Phone: 7815821061

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