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LAKE FOREST, Cali. – Portfolio Group announced today that it has acquired a majority interest in Finance Concepts, LLC, one of its largest producing agencies headquartered in Folsom, California. Portfolio is owned by the company’s management and Capital Z Partners, a New York-based private equity firm. Terms of the transaction were not disclosed. “We are very ... Read More »
Read More →DAYTON, Ohio — Reynolds and Reynolds Co., a provider of automotive dealership software, documents, and professional services, today announced its acquisition of ReverseRisk, which offers a web-based analytics reporting platform designed to eliminate the need for multiple reporting systems. The system can be used regardless of the DMS a dealership uses and will be added ... Read More »
Read More →SAN CLEMENTE, Calif. – DealerSocket has unveiled a five-step customer acquisition plan for used car dealers, backed by the company’s most recent internal data and a survey of dealerships nationwide. The plan highlights low-hanging-fruit strategies that dealers can implement right away to attract and convert more leads. “It’s tempting for dealers working in the trenches ... Read More »
Read More →ATLANTA & LAKE SUCCESS, N.Y.- Cox Automotive, Inc., a leading provider of digital marketing, wholesale and e-commerce solutions across the automotive industry, and Dealertrack Technologies, Inc., a leader in software solutions and services for automotive retailers, today announced that they have entered into a definitive merger agreement, reports BusinessWire. Cox Automotive will acquire Dealertrack in ... Read More »
Read More →MAPLE SHADE, N.J. — Holman Automotive Group acquired Audi Willow Grove in Willow Grove, Pa. The dealership is now the second Audi store under the Holman brand. Audi Willow Grove was owned and operated by Don Rosen, who has been affiliated with the Audi brand for over two and a half decades. Under his leadership, ... Read More »
Read More →WESTLAKE VILLAGE, Calif. — J.D. Power and the National Automobile Dealers Association (NADA) have announced an agreement under which J.D. Power will acquire NADA’s Used Car Guide business, a well-known source of used-vehicle values. The transaction is expected to close early in the third quarter of 2015 and is subject to Hart–Scott–Rodino Act review. Established ... Read More »
Read More →OLDWICK, N.J. — A.M. Best has commented that the financial strength rating of A (Excellent) and the issuer credit rating of “a” for Heritage Indemnity Company (HICO) (headquartered in Lakewood, CO) remain unchanged following the recent announcement of its agreement with AmTrust Financial Services, Inc. (AmTrust) (headquartered in New York, NY). AmTrust has entered into ... Read More »
Read More →NEW YORK — AmTrust Financial Services Inc. announced today that it has entered into a definitive agreement to acquire F&I product provider Warranty Solutions from Wells Fargo for $152 million in cash. Pending regulatory approval, the deal is expected to close in the third quarter 2015. Warranty Solutions was part of Wachovia Dealers Services when ... Read More »
Read More →NEW YORK – Spencer Capital Holdings, Ltd. (“Spencer Capital”), a value-oriented global holdings company, has acquired SouthWest Dealer Services (“SWDS”), a leading independent full-service provider of finance and insurance (“F&I”) products and services to auto dealers in the United States. SWDS has more than 250 employees that currently serve over 550 active dealers across 14 ... Read More »
Read More →FORT WORTH, Texas — General Motors Financial Company, Inc., has announced that on Jan. 2, GM Financial, GMAC UK plc — an indirect wholly-owned subsidiary of GM Financial — and Ally Financial Inc., completed a transaction under which GM Financial and GMAC UK acquired Ally’s 40% equity interest in SAIC-GMAC Automotive Finance Company Limited, a ... Read More »
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