PHILADELPHIA–(Small business WIRE)–Lovell Minnick Associates (“LMP”), a private fairness organization centered on investments in financial solutions, monetary technological innovation, and associated company companies, today announced the sale of Nationwide Vehicle Care (“NAC” or the “Company”) to APCO Holdings, LLC (“APCO”). This transaction marks the completion of a thriving partnership amongst LMP and NAC that began just above 4 years ago. Throughout that time time period, NAC grew aggressively to grow to be one of the foremost national finance & insurance policies (“F&I”) platforms in the market.
Started in 1984 and based mostly in Ponte Vedra Seaside, Florida, NAC is a primary distributor and administrator of F&I solutions to vehicle, powersport and RV dealerships, credit history unions and various other money institutions. NAC is regarded for its revolutionary approach to producing ideal-in-class guarantee goods covering car service, guaranteed asset safety (Hole), and ancillary coverage contracts. The Business is special in its capability to get the job done instantly with its dealership and economical companions to make the great suite of solutions to fulfill the demands of the stop buyer.
More than the previous four years, in partnership with LMP, NAC has promptly expanded its small business by means of a blend of organic growth initiatives and strategic acquisitions. Considering the fact that 2020, NAC has concluded 21 acquisitions, even further diversifying the Organization into new solution lines, geographies, and support offerings. The acquisitions had been aspect of the Company’s strategic prepare to acquire a vertically built-in business enterprise model, with administration and direct distribution capabilities that allow it to act as a “one-halt-shop” for its dealership and fiscal associates.
“The assets and guidance that LMP has furnished more than the final 4 years have been instrumental in supporting us obtain an bold set of growth goals and differentiate ourselves in a competitive market place,” reported Tony Wanderon, CEO of NAC. “We are assured that by combining the system we built with LMP with the deep working experience and expertise of APCO, we will build the foremost F&I platform in the business.”
“We have had a marvelous partnership with Tony, Courtney, and the entire NAC staff, and we are happy of the advancement rate NAC was equipped to realize to differentiate alone in a crowded market place,” said Trevor Loaded, a Spouse at LMP. “Finishing 21 acquisitions considering that 2020 was no smaller feat and is a testament to the exclusive platform that the NAC group has designed. NAC has turn out to be the acquirer of decision in the F&I current market and the Company’s advancement tale, coupled with its price prop, has captivated lots of F&I agents and directors seeking to locate their future lover to accelerate progress.”
“We laid out a quite bold expansion program from the starting, realizing that we would need to devote closely in the company to attain our targets,” mentioned Courtney Hoffman, Senior VP of Mergers & Acquisitions at NAC. “LMP supported us just about every move of the way, supplying each knowledge and resources to help us execute on the vision. As we transfer into the upcoming chapter, we are enthusiastic to unite with APCO, which will permit us to obtain the following set of ambitious progress goals.”
Piper Sandler & Co. and Schulte Roth & Zabel LLP advised LMP and NAC in link with the transaction. Weil, Gotshal & Manges LLP recommended APCO in link with the transaction.
About Countrywide Auto Treatment
NAC is one particular of the longest operating suppliers of solutions this kind of as vehicle service contracts, confirmed asset protection, limited guarantee, tire and wheel and a complete suite of ancillary security solutions nationwide. NAC delivers F&I products and solutions, administration, consulting products and services, education and marketing help to unbiased agents, insurance policy businesses, auto dealers, RV sellers, powersports dealers, financial establishments, 3rd-get together directors, and credit unions.
About LMP
LMP is a non-public fairness business targeted on investments in monetary providers, economic technological innovation and linked organization companies. LMP associates with outstanding management groups to aid increase their businesses and develop benefit for investors by means of a mix of driving development initiatives, strategic activity and operational advancements. Given that LMP’s inception in 1999, it has turn out to be a chief in its preferred room, boosting $3.5 billion of dedicated cash from foremost institutional traders.
LMP seeks to invest in management-driven, advancement-oriented corporations that span the supply chains of investment goods, insurance products and solutions, credit score solutions and payments. Some of the places in which LMP specializes consist of monetary and insurance policies technological know-how payments insurance brokerage and expert services prosperity and asset management and similar business companies.
About APCO Holdings, LLC
Because 1984, APCO has developed to turn into a top supplier and administrator of F&I goods for the auto industry. Crafted on a foundation of monetary protection and a dedication to being familiar with our customers’ requires, APCO is a trustworthy husband or wife to some of the most perfectly-highly regarded insurers, very productive dealerships, and major vehicle sector players in the state. The business markets its goods utilizing the EasyCare, GWC Warranty, and MemberCare brands, as well as other personal label products and solutions, via a network of independent agents and an interior salesforce that focus in consulting with and servicing the automotive dealership marketplaces. EasyCare, GWC Guarantee, and MemberCare F&I items are the only “MotorTrend® Recommended Very best Acquire” in the market. They also carry top rated rankings from the Far better Business Bureau, have guarded above 11 million customers, and have paid above $3.5 billion in claims.
