M&A Deal Summary

Primeritus Financial Services Acquires Consolidated Asset Recovery Systems

On April 3, 2019, Primeritus Financial Services acquired software company Consolidated Asset Recovery Systems from Greenridge Growth Partner and C3 Capital

Acquisition Highlights
  • This is Primeritus Financial Services’ 1st transaction in the Software sector.
  • This is Primeritus Financial Services’ 7th transaction in the United States.
  • This is Primeritus Financial Services’ 2nd transaction in Texas.

M&A Deal Summary

Date 2019-04-03
Target Consolidated Asset Recovery Systems
Sector Software
Buyer(s) Primeritus Financial Services
Sellers(s) Greenridge Growth Partner
C3 Capital
Deal Type Add-on Acquisition

Target

Consolidated Asset Recovery Systems

Austin, Texas, United States
Consolidated Asset Recovery Systems, Inc. is a provider of repossession and remarketing software and services as well as assists prime, sub-prime, captive and regional lenders. Through its IBEAM™ Web portal, asset tracking and real-time updates can be monitored, offering transparency throughout the recovery and remarketing process. Consolidated Asset Recovery Systems, Inc. was founded in 2005 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

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 7 of 7
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 7
State: Texas M&A 2 of 2
Country: United States M&A 7 of 7
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 Find Track Locate

Tucson, Arizona, United States

Find Track Locate, Inc. is a provider of tailored recovery services and bankruptcy management exclusively to powersport lenders in all phases of delinquency. Find Track Locate is based in Tucson, Arizona.

Buy -

Seller(S) 2

SELLER

Greenridge Growth Partner

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

Greenridge Growth Partner is a private equity firm focused on growth equity and buyout investments in emerging companies. The Firm seeks businesses with proven business models, revenue traction, and profits (or visibility to profitability). Greenridge Growth Partner is based in Austin, Texas.


DEAL STATS #
Overall 2 of 5
Sector: Software M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
State: Texas M&A 1 of 2
Country: United States M&A 2 of 5
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Lakeview Health

Jacksonville, Florida, United States

Lakeview Health is a private drug and alcohol rehab center that treats patients' bodies, minds, and spirits by using a medical model that combines physiological, psychological, and psychosocial care. Lakeview Health was formed in 2001 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-07 GrowthZone

Nisswa, Minnesota, United States

GrowthZone is a provider of software and technology solutions for associations and chambers of commerce. GrowthZone helped over 3,000 member-based organizations grow and retain membership, generate revenue, engage and communicate with members and prospects, and streamline their day-to-day operations. GrowthZone was founded in 1996 and is based in Nisswa, Minnesota.

Buy -
SELLER

C3 Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1994
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

C3 Capital is a private investment firm that provides capital for later-stage growth, strategic acquisitions, ownership transitions, and recapitalizations. The Firm typically invests in the form of subordinated debt or preferred equity and can commit between $3 and $15 million in businesses with at least $2 million of EBITDA. Target sectors include chemicals, plastics, energy, business services, distribution, and high value-added manufacturing. C3 does not seek a controlling interest when pursuing investments. C3 will not invest in real estate, oil/gas exploration, or financial institutions. C3 Capital is based in Kansas City, Missouri.


DEAL STATS #
Overall 16 of 25
Sector: Software M&A 2 of 2
Type: Add-on Acquisition M&A Deals 6 of 10
State: Texas M&A 2 of 4
Country: United States M&A 16 of 25
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 New World Natural Brands

Chicago, Illinois, United States

New World Natural Brands is a holding company of natural beauty and personal care brands. New World Natural Brands provides the resources, expertise, capital, and connections to help brands achieve greater sustainable and scalable growth. New World Natural Brands was founded in 2018 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 iOR Partners

Kansas City, Missouri, United States

iOR Partners provides a full-service solution that enables ophthalmologists to move cataract surgical procedures from ambulatory surgery centers to their own office suites, where they can provide their patients with a more familiar and personalized premium surgical experience. The solution involves equipment, supplies, and certifications. iOR Partners is based in Kansas City, Missouri.

Buy -