Investment Summary

Cardinal Growth Exits Renovo Services

On October 17, 2012, Primeritus Financial Services invested in business services company Renovo Services from Cardinal Growth

Investment Highlights
  • This is Primeritus Financial Services’ 2nd transaction in the Business Services sector.
  • This is Primeritus Financial Services’ 2nd transaction in the United States.
  • This is Primeritus Financial Services’ 1st transaction in Michigan.

Investment Summary

Date 2012-10-17
Target Renovo Services
Sector Business Services
Investor(s) Primeritus Financial Services
Sellers(s) Cardinal Growth
Deal Type Add-on Acquisition

Target

Renovo Services

Grand Rapid, Michigan, United States
Renovo Services LLC is the first powerfully financed and professionally managed repossession force operating as a single, direct entity. Instead of dealing with hundreds of individual operators, your auto loan collectors will realize the efficiency of dealing with one repossession company for all your assignments. When your collector chooses RENOVO, the recovery order stays within our network of trained professionals, all operating in our new fleet of damage-free towing equipment.

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Investor(S) 1

Investor

Primeritus Financial Services

Nashville, Tennessee, United States

Category Company
Sector Financial Services
DESCRIPTION

Primeritus Financial Services is a national provider of repossession management, remarketing, title services and skip tracing services to the auto finance industry in the U.S. Primeritus serves as a value-added partner for clients that seek to outsource the non-core business functions of the collateral recovery process as well as supplement their existing recovery efforts. Primeritus Financial Services is based in Nashville, Tennessee.


DEAL STATS #
Overall 2 of 7
Sector: Business Services M&A 2 of 5
Type: Add-on Acquisition M&A Deals 2 of 7
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 7
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-15 The M. Davis Company

El Dorado Hills, California, United States

The M. Davis Co. is a full service, national provider of repossession management, skip tracing, transport and vehicle remarketing services through its USA Recovery and Skip Masters divisions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-25 Repo Remarketing

Citrus Heights, California, United States

Repo Remarketing is a full-service repossession, recovery and remarketing company offering nationwide vehicle transition services in recovery management, skip tracing and asset liquidation. Repo Remarketing provides a trustworthy bridge to recover and remarket inventory efficiently using proven industry-standard principles, with advanced technology adapted expressly with our partners in mind.

Buy -

Seller(S) 1

SELLER

Cardinal Growth

Chicago, Illinois, United States

Category Private Equity Firm
Founded 2000
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Cardinal Growth is a private investment firm focused on smaller company transactions. Prospective businesses generally have revenues of $10 to $50 million and cash-flow of at least $2 million. Cardinal looks to fund management buyouts, recapitalizations, add-on acquisitions and internal expansions throughout the US, although the firm has a preference for Midwest based transactions. Sectors of interest include equipment rental, business outsourcing, specialty finance, printing and publishing, marketing services, infrastructure service providers, entertainment, general industrial manufacturing, food processing and distribution, logistics, wireless communication, and real estate services. Cardinal Growth was formed in 2000 and is licensed as a SBIC. Cardinal Growth is headquartered in Chicago, Illinois. Cardinal Growth LP is out of Business.


DEAL STATS #
Overall 2 of 2
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-13 Unico Holdings

Lake Worth, Florida, United States

Unico Holdings, Inc. is an independent manufacturer of private label health and personal care products.

Sell $49M