The next chapter in Jim Landy’s career in auto finance will arrive through another acquisition involving a lender and an investment firm.

Last week, Flagship Credit Acceptance announced that affiliates of InterVest Capital Partners, a New York-based specialty finance investment firm, has entered into a definitive agreement to acquire the operating assets and business operations of the auto-finance provider that took root in 2005.

Upon final closing of the transaction, Landy will become CEO of a newly formed company to be called Flagship Financial Group.

“The team at Flagship is excited to partner with InterVest to help facilitate Flagship’s continued growth,” current CEO Bob Hurzeler said in a news release. “There is a great opportunity ahead to grow our originations, while adding value to our dealer network.”

Landy’s leadership roles have included time with Triad Financial, Fireside Bank, CarFinance Capital, SpringboardAuto.com and Instamotor.

“This is an exciting moment for Flagship. I look forward to partnering with Jim and the InterVest team during the transition period,” Hurzeler said.

As of Sept. 30, Flagship had more than 500 full time employees in the United States, with headquarters in Chadds Ford, Pa., and additional offices in Coppell, Texas, and Tempe, Ariz. Since inception, the company has originated more than $16 billion of auto financing through both indirect and direct channels.

With more than two decades’ experience, InterVest is an alternative asset manager dedicated to niche credit strategies across asset-based, asset-backed and specialty finance and real estate in the United States, Canada and Europe.

“InterVest capital partners is excited to invest in one of the leading non-prime auto finance companies in the U.S.,” InterVest managing director Ari Rosenberg said in the news release. “We are excited about this opportunity, and we are looking forward to partnering with the talented employees of Flagship.

“Our investment will immediately provide Flagship with the resources needed to support continued growth,” Rosenberg went on to say.

Deutsche Bank Securities acted as the financial advisor and McDermott Will & Schulte as the legal advisor to the seller in this transaction. Piper Sandler & Co. acted as the financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to the purchaser.

The move involving Flagship continues of a string of M&A activity in non-prime auto finance as earlier this fall.

White Label Holding, a U.S.-based financial group specializing in integrated automotive lending solutions, earlier this month announced the full acquisition of National Auto Lenders, which is a non-prime auto financing company with more than 25 years of continuous operation in Florida.

That development surfaced less than three weeks after Global Lending Services (GLS) announced it had entered into a definitive agreement to be acquired by Sixth Street, a global investment firm.