Primeritus Financial Services is looking to be the forwarding company of choice for finance companies that have more than just cars and trucks in their portfolio.
Primeritus recently announced the acquisition of Capital Recovery Group (CRG). Based in Tucson, Ariz., CRG is a recovery solution company dedicated solely to the powersports community.
CRG, founded by Nic Spallas, Adam Jones and Dennis Louderback, is the seventh acquisition by Primeritus since 2012. The company’s most recent move came a little more than a year ago when Primertis purchased Global Investigative Services, then a Rockwell, Texas-based provider of vehicle skip-tracing services, equipment recovery and investigative services for the finance industry.
“We are very selective when considering potential acquisition targets, evaluating many different aspects of the company,” Primeritus president and chief executive officer Scott Peters said.
“We were very impressed when we talked to the team at CRG and knew right away that this would be a great addition to the Primeritus family of companies,” continued Peters, who is among the cast of experts and executives already on tap to be a part of Used Car Week, which begins on Nov. 12 in Scottsdale, Ariz.
Primeritus Financial Services said that with the acquisition, CRG will undergo a name change. The new company will be known as Find Track Locate.
“CRG has an excellent reputation within the powersports industry. We look forward to working with their team to enhance their service offerings and continue to drive innovation, compliance and efficiency for CRG’s and Primeritus’ clients,” Primeritus senior vice president of operations Chris McGinness said.
“While Primeritus has a presence in the powersports market, this acquisition allows us to grow our footprint significantly in this arena.” McGinness continued
Louderback, who is CRG VP and general manager, added, “We are delighted to join Primeritus which is the leader in the recovery, skip tracing and remarketing services industries.”
“And we look forward to moving our company toward a new level of quality and service,” Louderback went on to say.