MILWAUKEE, Wis. — ARI announced recently that it acquired the assets of Powersports Outsourcing Group to add F&I products and services for its customers.

Powersports Outsourcing Group, which is located in Schenectady, N.Y., has been offering outsourced F&I products to powersports, marine and RV customers in the Northeast since 1998.

The company specializes in helping dealers' customers obtain financing, as well as providing them with extended service agreements, gap insurance, tire and wheel protection and other after-sale products.

The acquisition was completed on April 17. The company will operate under the name F&I Smart.

"We believe offering (finance and insurance) products and services represents a significant and extremely important new opportunity for ARI to help our customers improve their revenue and profitability," said RoyOlivier, ARI's president and chief executive officer.

"Small and mid-sized dealers in powersports market have a demonstrated need for these services. Over 1.8 million new powersports units are sold every year, so the revenue potential — for both our dealer partners and ARI — seems to be very strong. The marine and RV markets indicate the same type of need," he added.

Olivier cited a survey from PowerSports Business that found that 52.8 percent of motorcycle buyers obtain financing, but many dealers do not have the opportunity to offer finance options. PowerSports Business also reported that some dealers obtain $500 to $1,000 in additional revenue per unit sold with after-sale finance and insurance products.

Initially, ARI will focus on power sports, marine and RV dealerships that do not have a full-time, in-house F&I department.

"I am very excited about joining ARI and heading up this new F&I business unit," said Mark Taylor, head of Powersports. "ARI has the resources and customer base to drive rapid and significant growth in our F&I business, both geographically and by industry sector."