“We see a great opportunity ahead to expand our products and services, while adding value to our contractor network."
ROTHSCHILD, Wis. (PRWEB) September 26, 2022
Foundation Finance is a leading point-of-sale financing provider in the home improvement industry, with nearly $3 billion in lifetime originations.
Foundation Finance Company LLC ("Foundation" or the "Company") announced today that InterVest Capital Partners ("InterVest"), a New York-based specialty finance investment firm formerly known as Wafra Capital Partners, has acquired the Company from Garrison Investment Group.
“The team at Foundation is excited to partner with InterVest to help facilitate Foundation’s continued growth,” said Foundation CEO Alex Mladek. “We see a great opportunity ahead to expand our products and services, while adding value to our contractor network. Foundation’s partnership with InterVest will allow Foundation to accelerate key initiatives and expand strategic partnerships.”
"InterVest Capital Partners is excited to join the Foundation ownership group and invest in one of the top point-of-sale consumer financing companies in the US. We are confident that our capital and strategic insight will further evolve the progression that is already underway, allowing Foundation to reach new ambitious milestones in the years ahead," said Michael Gontar, CEO of InterVest Capital Partners.
About Foundation Finance Company
Foundation was founded in 2012 through the partnership of an experienced management team and Garrison Investment Group. Foundation specializes in point-of-sale home improvement financing programs across the credit spectrum, including revolving lines of credit, installment contracts and promotional financing. Foundation operates in all 50 states and serves more than 9,000 home improvement contractors and hundreds of thousands of homeowners nationwide. For more information, visit foundationfinance.com
About InterVest Capital Partners
InterVest Capital Partners ("InterVest"), a New York-based investment management firm, manages or advises funds and accounts that specialize in specialty finance and real estate investments. InterVest has significant experience investing in non-bank lending, leasing and specialty rental businesses as well as real estate and real estate debt, and its team has been operating in these arenas since 1999. For more information, visit intervest.com