Boca Raton, FL – November 12, 2015
Service Finance Company (“SFC”), a service provider that originates, underwrites, and services financing for home improvement and solar projects, announced that it has closed a significant minority equity investment from Flexpoint Ford, LLC (“Flexpoint Ford”), a private equity firm focused on the financial services and healthcare sectors. The partnership with Flexpoint Ford will provide SFC with additional resources to accelerate growth. SFC will continue to operate as an independent company under its current management team and President, Mark Berch.
As a nationally licensed sales finance company and third-party servicer authorized to conduct business in all fifty states and the District of Columbia, SFC has developed a technology-enabled platform that allows contractors to offer financing solutions to consumers as part of their in-home sales process. Over its ten year history, SFC has developed exclusive industry partnerships that enable it to offer qualified borrowers a broad-based set of financing products through its ever-expanding national network of home improvement and solar contractors.
“Our continued investment in technology, including our mobile app, and customer service delivers value to our industry partners, contractors, and financing customers,” said President Mark Berch. “We are very excited to partner with Flexpoint Ford, and we believe their financial services expertise and industry relationships will help SFC accelerate its rapid growth trajectory.”
Steven Begleiter, Managing Director of Flexpoint Ford, sees enormous potential in SFC. He commented, “For many years, Flexpoint Ford has been researching the point-of-sale consumer finance sector. Throughout its history, SFC’s management team has brought together the elements necessary to capitalize on the market demand for financing energy efficient home improvements. We are thrilled to become an integral part of SFC’s development.”
Daniel Edelman, Principal of Flexpoint Ford, was attracted to SFC’s sustainable value proposition. He stated, “We believe that data and technology now provide underwriting and customer acquisition efficiencies that will accelerate the shift of credit origination away from banks towards specialists like SFC. We look forward to supporting the company’s management team as it continues to grow market share, form new industry partnerships, and serve its existing contractor base.”
Raymond James served as financial advisor to Flexpoint Ford, and Kirkland & Ellis LLP acted as legal advisor. SFC was represented by Pepper Hamilton LLP.
Service Finance Company, LLC is a nationally licensed sales finance company and an approved FHA Title I Lender. SFC provides installment loan solutions with favorable consumer interest rates and extended repayment terms for borrowers who wish to finance purchases of products such as: HVAC, Windows, Doors, Solar, Roofing, and Insulation. For more information about SFC, please visit www.svcfin.com.