South Portland, ME (PressExposure) 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.Â 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 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 http://www.eospartners.com.
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 http://www.bigelowllc.com.