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Chartworth advises in Direct Capital Acquisition of Direct Mortgage Services
Portsmouth NH, January 26, 2006 - Chartworth is pleased to announce that Direct Capital Corporation (DCC), a leading national equipment & technology lessor, has completed the acquisition of Direct Mortgage Services, Inc. (DMS). Chartworth acted as the financial advisors in this transaction. “This synergistic business combination dramatically accelerates the strategic value creation plans for both companies”, according to Vlad Harris, Principal of Chartworth. The acquisition was completed on January 3, 2006. Terms were not disclosed.
Direct Capital Corporation is a national finance firm with over 200 employees. Direct Mortgage Services is a leading mortgage provider and will soon be offering mortgage products in all 50 states. Both firms have their headquarters in Portsmouth, NH.
DMS will operate as a wholly owned subsidiary, under the same DMS management team led by its President, Joe Adamaitis. “We are extremely excited with this opportunity. Direct Capital brings strong forward thinking capabilities and a business model that strengthens both our positions in very competitive markets.” The merger will expand the financial product offerings of the combined firms and leverage the technology and human resource platform of DCC. “This new relationship will enhance the depth and breadth of DCC’s capabilities and the services provided to business owners today,” said Chris Broom, Direct Capital’s Chairman. “DMS will also provide another layer of business diversification for the company.”
Chartworth provides corporate finance, investment banking, business development and management consulting services to entrepreneurial companies. The firm specializes in helping businesses in transition build and realize corporate value through mergers and acquisitions. All investment banking and securities activities are conducted exclusively through Chartworth Capital, LLC, an affiliate of Chartworth. Chartworth Capital, LLC is a member of the National Association of Securities Dealers (NASD) and the Securities Investor Protection Corporation (SIPC).
Chartworth has offices in Portsmouth and Manchester, NH.
For Further Information
Vladimir Harris, Principal
Phone: 603.766.0478 Ext 2
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