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New Capital Partners (NCP), a private equity firm in Birmingham, Ala., has announced that it has partnered with Pompano Beach, Fla.-based ARMCO, a Web-based quality assurance software provider for the financial services industry.
ARMCO provides a wide range of mortgage quality control (QC), compliance and transaction risk management technologies. Their product line includes loan quality enterprise software, services, data and analytics, and their flagship product, ACES Audit Technology, is used at virtually every point in the mortgage life cycle, setting the industry standard for user definability.
“We are excited to partner with the outstanding team at ARMCO,” said Adam Cranford, managing director of New Capital Partners. “The team has done a tremendous job building a market-leading product suite and providing best-in-class service and support to their customers. Broad use of ACES by top banks, lenders and servicers in the country attests to the strength of the product and the ARMCO professional team. We are looking forward to working with the team to drive continued growth and innovation.”
Avi Naider, CEO of ARMCO, said, “We are excited to begin our relationship with New Capital Partners. Their operational experience and track record of creating value with growth-stage companies was a perfect fit for ARMCO’s current growth phase. The team members at NCP are thought leaders and industry experts in banking technology, and we look forward to continuing to build a great company through this partnership.”
