American Eagle Mortgage, a Loraine, Ohio-based mortgage lender backed by Evolution Capital Partners, has acquired the assets of Real Estate Mortgage Corp. for an undisclosed amount. REMC operates in three Greater Cleveland marketplaces: Rocky River, Beachwood and Twinsburg.
American Eagle Mortgage Co, LLC (“AEMC”), a mortgage lender in Ohio, Kentucky and Florida, is pleased to announce their agreement to acquire the assets of Real Estate Mortgage Corp. (“REMC”). This acquisition adds three locations to AEMC’s current footprint in the Cleveland marketplace: Rocky River, Beachwood and Twinsburg.
Mark Johnston, President of REMC, will continue with AEMC as Vice President, and will be instrumental in the growth of AEMC. “He brings tremendous value to the American Eagle team with over twenty-five years of success in the mortgage industry,” said AEMC President John Schrenkel. “We are very excited about the addition of Real Estate Mortgage to American Eagle Mortgage. With this acquisition we now have fourteen locations, extending our presence even further throughout Ohio.”
“Joining forces with American Eagle brings a high level of integrity and professionalism consistent with the stellar service REMC clients expect. We look forward to our continuing relationships in that vein,” said Mark Johnston.
American Eagle Mortgage Co, LLC
American Eagle Mortgage (“AEM”), based in Lorain, OH, is a premier mortgage lender in Ohio, Kentucky and Florida. AEM specializes in providing FHA and VA lending solutions for new home buyers. For more information, visit http://www.aemc.cc/.
Evolution Capital Partners, LLC
Evolution Capital Partners (“Evolution”) is a committed private equity fund investing $1-10 million of equity, in partnership with management, to sponsor buyouts of light industrial, service and distribution businesses. Evolution targets established companies with annual sales between $5 million and $50 million that given the resources have a real opportunity for organic growth. Evolution expects to act as a lead investor in growth financings, acquisitions, recapitalizations and divestitures. For more information, visit http://www.evolutioncp.com/.