Altamont Capital Partners’ recent purchase of J.D. Byrider recently gained more financial support through a debt investment by Prospect Capital Corp., a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital is injecting $25 million into the deal. Altamont plans to provide Byrider with strategic direction, experienced resources […] [Read More]

Chrysler said Wednesday that it is extending its Minivan Month promotion as well as its RamBox and no-charge HEMI engine promotions through the end of May, while also revealing a few new incentives for the month. Back in April, Chrysler had revived its 60-day “Minivan Pledge” to kick off Minivan Month. The pledge — which […] [Read More]

Following a move from its old site in Avoca, Pa., GWC Warranty recently showed off its new corporate headquarters in Wilkes-Barre, Pa., during a ribbon-cutting ceremony attended by state and local officials, project developers and company employees. The 16,500-square-foot facility includes 60 open office workstations and 12 private offices. It features a reception lobby, boardroom and […] [Read More]

Penske Automotive Group announced its new executive vice president and chief financial officer on Monday to replace Robert O’Shaughnessy. The company appointed David Jones to the position. Jones — who had been serving as the president and CFO within Penske’s European operations — stepped into the role immediately. As for O’Shaughnessy, this executive stepped down to take […] [Read More]

Management at Dollar Thrifty Automotive Group was tight-lipped Monday regarding the latest offer from Hertz Global Holdings to purchase the company. Hertz laid out an offer Monday morning for the country’s fourth-largest rental company that would pay Dollar Thrifty shareholders $72 per share. Comprising that $72 per share amount would be $57.60 in cash and […] [Read More]

Clear direction about whether a repossession agency or lender can contact debtors through some of the latest technology methods such as cell phones or social media remains uncertain, according to the American Financial Services Association. AFSA staff members recently attended a workshop hosted by the Federal Trade Commission on consumer protection related to debt collection […] [Read More]

Recovery Manager Pro recently released its new historical plate information function for its integrative cloud solution. The company indicated the newest addition to its cloud-based Web portal can enable users in both the recovery and auto finance industries to purchase information on previously spotted vehicles of interest, utilizing MVTRAC’s license-plate recognition patent. Recovery Manager Pro […] [Read More]

LeasePlan USA revealed its new vice president of operations on Thursday, whose responsibilities will include remarketing, in addition to other areas. Named to the role is Mike Miller, who has been with the company since 2004. Miller will be responsible for leading the commercial fleet operations group to continued success. His responsibilities will include vehicle acquisition, vehicle […] [Read More]

Geared especially for National Independent Automobile Dealers Association members, NADA Retirement Administrators rolled out a number of new products and enhanced services this week. The enhancements include: —Sub20 Plan. —Online investment guidance. —Executive and deferred compensation plan. “As the preferred retirement plan provider for the National Independent Automobile Dealers Association, we are pleased to be […] [Read More]

J.D. Byrider announced Tuesday that it has been acquired by private equity firm Altamont Capital Partners. Altamont plans to provide Byrider with strategic direction, experienced resources and additional capital to support its growth and franchise expansion initiatives. The purchase of Byrider is Altamont’s first investment from its $500 million fund, which closed late last year. The firm said […] [Read More]