Roark Capital Group Acquires the Assets of Millennium Funding Group Ace Mortgage, a Roark portfolio company, buys mortgage banking platform



    ATLANTA, Dec. 19 /PRNewswire/ -- Roark Capital Group, an Atlanta-based
 private equity firm, announced today the acquisition of Millennium Funding
 Group by Ace Mortgage Funding, a Roark portfolio company. Millennium is a
 wholesale loan originator that currently funds over $1 billion of annual
 volume through a network of 4,000 approved brokers primarily located in the
 Western U.S. and Florida.
     Millennium will become a wholly-owned subsidiary of Ace, a retail
 mortgage broker originating over $3 billion in residential mortgages
 through 700 loan officers at 26 locations licensed in 42 states.
     "We are pleased to facilitate Ace's vertical expansion into mortgage
 banking," said Lawrence J. DeAngelo, Partner of Roark Capital Group.
     Richard Hall, CEO of Ace Mortgage Funding, added, "Millennium will be a
 valuable addition to our business, providing Ace an integrated origination
 and aggregation platform. We look forward to working with the Millennium
 team to develop loan products that meet the needs of our customers."
     Millennium is Roark's fourth acquisition in the financial services
 sector. Other areas of focus are franchise brands (Roark has acquired 11
 franchise companies) and direct marketing (Roark owns four direct marketing
 companies).
     About Roark Capital Group
     Roark Capital Group is an Atlanta-based private equity firm that
 acquires majority positions in franchise, direct marketing, financial
 services, niche manufacturing, and service businesses. The firm, with more
 than $500 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 please visit
 www.roarkcapital.com.
     About Ace Mortgage Funding
     Ace Mortgage Funding, headquartered in Indianapolis, Indiana, is a
 retail mortgage broker originating over $3 billion in residential mortgages
 through 700 brokers at 26 locations in 17 states. Ace principally offers
 debt consolidation loans, which allow customers to combine their existing
 mortgage with their non tax-deductible credit card, car and student loans
 to obtain one lower tax-deductible mortgage payment. Ace is licensed in
 more than 45 states and originates non-conforming, government (FHA-VA),
 HELOC, conforming and Alt- A loans. For more information please visit
 www.acerefi.com.
     About Millennium Funding Group
     Millennium Funding Group, based in Vancouver, Washington, is a national
 mortgage lender with over $1 billion in annual originations offering
 wholesale lending solutions to mortgage brokers and the secondary mortgage
 market. Millennium is dedicated to serving the broker community nationwide
 with specialized non-conforming and sub-prime products. For more
 information please visit www.mfgloans.com.
     Contact: Julie Meyer, Fishman Public Relations, (847)945-1300, ext. 233
 or jmeyer@fishmanpr.com
 
 

SOURCE Roark Capital Group

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