New Capital Partners (NCP), a private equity firm in Birmingham, Ala., has partnered with Pompano Beach, Fla.-based ARMCO, the leader in web-based quality assurance software for the financial services industry, the company announced in a release.
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.
“We are excited to partner with the outstanding team at ARMCO,” New Capital Partners Managing Director Adam Crawford said in the release. “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.”
ARMCO CEO Avi Naider spoke to the anticipated business relationship with New Capital Partners.
“Their (NCP) operational experience and track record of creating value with growth-stage companies was a perfect fit for ARMCO’s current growth phase,” Naider said. “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.”