Primeritus Financial Services said Wednesday afternoon it has purchased Global Investigative Services, a Rockwell, Texas-based provider of vehicle skip-tracing services, equipment recovery and investigative services for the finance industry.
It was founded by Greg Hill and Danny Tolbert.
“When we look at potential acquisition targets, companies must meet a high standard of managerial, financial and compliance benchmarks. In this case, GIS easily met all of them,” Primeritus president and chief executive officer Scott Peters said in a news release. “This transaction allows us to broaden our service offering and customers served.”
Hill of GIS said in the news release: “We are delighted to join Primeritus which is the leader in the recovery, skip tracing, and remarketing services industries.”
Chris McGinness, who is senior vice president of operations at Primeritus, added: “GIS has established itself as a strong player in the skip tracing and heavy equipment recovery arena and we look forward to working with their team to continue to drive innovation, compliance, efficiency as well as best in class service for Primeritus’ and GIS’ clients.
“Primeritus has made a concerted effort to grow in the credit union space and the acquisition of GIS will compliment this side of our business nicely.”
Terms of the deal were not disclosed in the news release.