Evolution Capital Partners announced an equity investment in American Eagle Mortgage, a Lorain, OH.-based premier mortgage lender providing loans in Ohio, Kentucky and Florida.
Commenting o the investment, Brendan Anderson, Managing Partner at Evolution, said: “We are very impressed by American Eagle’s talented management team. They have proven to be a significant player in what has become a very volatile market. We look forward to partnering with management to continue to build on and expand American Eagle’s product offering,”
Cleveland, Ohio-based Evolution Capital Partners is a private equity fund investing $1-10m of equity, in partnership with management, to sponsor buyouts of light industrial, service and distribution businesses. Evolution targets established companies with annual sales between $5m and $50m that have a real opportunity for organic growth.
John Schrenkel, President, American Eagle Mortgage was reported as saying: “We believe our partnership with Evolution will allow us to not only build on our successful track record, but also help us in attaining our true growth potential”.