Roark Capital Group Acquires Ace Mortgage Funding

Atlanta-based private equity firm purchases second financial services company

Dec 14, 2005, 00:00 ET from Roark Capital Group

    ATLANTA, Dec. 14 /PRNewswire/ -- Roark Capital Group, an Atlanta-based
 private equity firm, announced today that it has acquired a majority position
 in Ace Mortgage Funding.  Headquartered in Indianapolis, Indiana, Ace is a
 retail mortgage broker originating over $3 billion in residential mortgages
 through 22 locations in 11 states.  Ace principally offers debt consolidation
 loans which allow customers to combine their existing home mortgage with their
 non tax-deductible credit card, car and student loans to obtain one lower tax-
 deductible mortgage payment.
     "The management team at Ace, led by Richard Hall and Robert Gregory, has
 succeeded in building one of the best positioned and fastest growing companies
 in the mortgage industry," said Lawrence J. DeAngelo, Partner of Roark Capital
     Hall, who along with Gregory will continue to lead the Company, stated,
 "We are eager to capitalize on the opportunities our new partnership with
 Roark will provide.  Roark's expertise in financial services and access to
 additional capital will help accelerate our growth plans."
     Ace is Roark's second investment in a financial services firm and the
 third acquisition in its $413 million fund raised in March 2005.  In August
 2005, Roark purchased McAlister's, an owner, operator and franchisor of a
 chain of quick casual restaurants and Wood Structures, a manufacturer and
 distributor of prefabricated roof and floor trusses, wall panels, and
 engineered wood products.
     About Ace Mortgage Funding
     Ace, headquartered in Indianapolis, Indiana, is a retail mortgage broker
 originating over $3 billion in residential mortgages with more than 600 loan
 officers at 22 locations in 11 states.  Ace is licensed in more than 40 states
 and focuses on A and B debt consolidation loans.  Ace originates non-
 conforming, government (FHA-VA), HELOC, conforming and Alt-A loans.  For
 further information about Ace Mortgage Funding, please visit
     About Roark Capital Group
     Roark Capital Group is an Atlanta-based private equity firm that acquires
 majority positions in franchise, financial services, niche manufacturing, and
 service businesses. Roark also targets family-owned businesses in the
 Southeast. The firm, with more than $560 million of equity capital under
 management, specializes in companies with attractive growth prospects and
 revenues ranging from $20 million to $1.0 billion. For more information about
 Roark Capital Group, please visit
     Contact:  Julie Meyer, Fishman Public Relations, (847) 945-1300, ext. 233

SOURCE Roark Capital Group