Dealers make deals every day, but this one in the buy-here, pay-here segment is more than just stretching a nickel or two on a trade.

Byrider announced on Thursday that an investor group of Byrider franchisees has acquired the assets of Byrider Franchising from Altamont Capital Partners. The group then started a new, franchisor-only entity named Byrider Franchising Partners.

According to a news release, the ownership group includes Greg Barrett, John Chalfant, Sean Garber, Chris McPhie, Tom Swigart and Chris Thomas.

Financial details were not mentioned in the announcement, but Altamont Capital will continue to hold equity in the new entity.

Garber has been elected chairman of the board of directors.

“We are partnering with our fellow franchisees to lead Byrider to new success,” Garber said in the news release. “The investment by our franchisee ownership will empower the entire enterprise to better support our amazing customers. Together, we will strengthen the company’s culture and communicate more meaningfully with our franchisees to drive the growth of our unique and vital business.”

Byrider Franchising CEO Mike Onda will continue to serve in that role with the new organization, retaining several key executives and staff.

Onda joined Byrider in 2014 as a strategy executive, moved on to progressive operational leadership roles, became CEO earlier this year, and has been integral to the transition to the new company.

“It is inspiring to everyone in our system to have franchisees who believe in our mission, brand and business model to such a degree as to acquire ownership of it,” Onda said. “Their commitment speaks volumes to current and future franchisees and highlights why a Byrider franchise continues to be a profitable opportunity with a purpose — helping consumers achieve a better financial future for themselves and their families.”

Byrider’s franchise support team continues providing franchisees with accounting guidance, legal and compliance expertise, human resources and recruiting, innovative marketing, modern information technology solutions, a custom credit scorecard and robust in-person and virtual training.

Byrider expects expansion into several new markets by new and existing franchisees.

Information about franchise opportunities can be found at www.byriderfranchise.com.