NASHVILLE, Tenn. -

After a year of multiple acquisitions, Primeritus Financial Services rebranded several of its business service segments.

Explaining the methodology behind the decisions, Primeritus Financial Services chief executive officer Chuck Tapp said: “Since the acquisitions of USA Recovery and Renovo over the past year, Primeritus has worked with customers and clients to better align their services with the overall strategy of the company.

“This rebranding is the next step in Primeritus’ evolution and growth in the recovery services, remarketing and skip tracing industries,” Tapp continued.

Primeritus Recovery is the trade name assigned to front-end repossession placements.  Servicing auto finance clients via a network of repossession firms and agents across the country, Primeritus believes it can now centralize, standardize and better manage the repossession process for its clients.

“Furthermore we have made a strategic decision to reduce Primeritus’ involvement in the direct agent business, as we believe that our 700-plus group of independent network agents can provide exceptional recovery services to both Primeritus and its clients,” said Cam Hitchcock, chairman of Primeritus Financial Services. 

“The recent sales of Repossessions Unlimited, Extreme Recovery and Allegent, each to highly respected direct recovery executives, demonstrate our commitment to the strategy and confidence in our network partners,” Hitchcock continued.

“In the past six months, we have sold or closed over 36 company-owned direct recovery locations.”

Primeritus SkipMasters is the skip-tracing arm of the company.

Leveraging the skills and knowledge from our acquisitions, the company insisted its can provide customers a stand-alone “locate” service or a valued addition to accounts being serviced through Primeritus Recovery. 

Moreover, Primeritus contends it has a robust suite of proprietary technology platforms and more than a hundred of the skilled and talented skip-tracers.

Finally, Primeritus Remarketing has recently replaced the Remarketing Solutions name in the auction channels as the company remarkets vehicles online and in auction lanes across the country. 

Additionally, Tapp mentioned several new programs have recently been added to increase overall net retention for clients’ assets.

“With the naming and image branding of our core companies, we are writing the next chapter in the Primeritus story, and that narrative will guide us in shaping our corporate culture,” Tapp said.

“Since our acquisitions of ASR, USA Recovery and Renovo Services, we have refined the Primeritus business model and made decisions and investments preparing Primeritus to be the best-in-class service provider in repossession management, skip tracing, remarketing and transportation solutions for our clients,” he went on to say.

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