CARMEL, Ind. — With the merger of Manheim Automotive
Financial Services and Dealer Services Corp., a new inventory finance entity
has been announced this morning.

NextGear Capital is the new name for the merged lenders,
following Manheim's acquisition of DSC in 2012. 

The floor plan company — which said it serves more than
17,000 dealers and 1,000 auctions throughout North America — will be led by
president Brian Geitner, formerly the president of DSC.

Its headquarters will be in Carmel, Ind. A new facility is
currently under construction.

"Creating NextGear Capital is a visionary endeavor," said
Geitner. "We are building an industry-serving floor plan company on the solid
foundations of two great industry leaders with strong cultures of customer
focus, innovation and service."

In its statement announcing the new entity, the company
emphasized the "cutting-edge technology" NextGear Capital will afford dealers,
letting them floor plan vehicles 24-7 from anywhere.

"Under the new company, customers will enjoy access to more
pricing options than ever before, including customized inventory finance
options tailored to suit their specific needs," officials said.

"The company sets a new standard for buying and selling
vehicles at live and online auctions, with a versatile line of credit that
works seamlessly at auction sites across the U.S. and Canada," they added.

NextGear Capital indicated that a wide range of floor plan
purchases for which customers can use their working capital. These include
retail, wholesale, salvage or specialty (rental/heavy trucks/RVs/receivables
financing) purchases.

When customers make purchases, NextGear Capital said it
backs them up with services like Retail Lender Connection, Collateral
Protection, Records Management and Title Services.

"When you do business with NextGear Capital, you get a lot
more than just financing options," said Shane O'Dell, the company's chief
operating officer. "You receive a robust array of services and support to help
you acquire and move your inventory."

Geitner added: "NextGear Capital has the people, technology
and service automotive remarketing professionals need to shift their business
forward."

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