LAS VEGAS -

Not only is the investment community finding ways to fuel auto finance companies that originate paper, they’re also navigating paths to secure firms that provide critical ancillary services that help foster the entire process.

According to news release distributed on Thursday, SNH Capital Partners announced the acquisition of ProMax, a leading SaaS provider of marketing services and credit data to automotive dealers across the United States. 

The investment firm highlighted the acquisition of ProMax extends SNH’s market presence across retail automotive solutions, including National Credit Center, an SNH Capital Partners portfolio company and a provider of data, credit, compliance and fraud solutions in the sector. 

Financial terms of the transaction were not disclosed.

While the official announcement arrived on Thursday, ProMax founder and chief executive officer John Palmer shared what was happening with his company via a post on LinkedIn.

“I want to let all my friends and associates in the auto industry know that after 23 amazing and wonderful years, I have sold ProMax,” Palmer said. “I want to thank all the fantastic people that I have had the privilege of working with these last 23 years. You are the reason we were so successful for such a long time.

“I look forward to the future, new opportunities, and challenges,” Palmer added in the social media update.

Founded in 1996, SNH is a U.S.-based, private equity investor dedicated to acquiring and transforming companies in the lower middle-market. SNH has an active strategic presence in each of its core industries, partnering with best-in-class management teams to develop growth platforms across technology and technology-enabled business services leveraging its investment and operational resources.

SNH said its portfolio companies are market-leading and rapidly growing providers of information, technology, and other business services to the automotive, financial services, human capital management and energy sectors.

And now its portfolio includes ProMax.

Based in Davenport, Iowa, ProMax offers front-end sales, development and inventory management software in the auto retail industry including lead generation, website design, desking, inventory, credit reporting, client relationship management and other compliance solutions.

“We are extremely pleased to invest in ProMax, a dynamic market leader with a 20-year history of consistent product innovation,” said Jevin Sackett, chief executive officer and managing director at SNH.

“We are excited to gain the experience and capabilities of the valuable team in Davenport, including Darian Miller, chief technology officer, and Shane Born, chief operating officer,” Sackett continued. “SNH has a significant track record of providing strategic and operational expertise to its portfolio companies. 

“We look forward to working with ProMax's management to both continue and augment its customer value proposition of excellent service and innovation over the long-term,” Sackett went on to say.

For more information, visit www.snhcapitalpartners.com.