For the second time in a little more than a month, Cox Automotive is liquidating an asset.

On Tuesday, F&I Sentinel announced it has reached a definitive agreement to acquire Express Recoveries from Cox Automotive.

As part of the transaction, Cox Automotive’s Express Recoveries team that currently supports the business will transition to the F&I Sentinel team.

According to a news release, the transaction is expected to close early in the first quarter.

“The decision to acquire Express Recoveries reflects our longstanding commitment to delivering F&I compliance that helps lenders and the auto financing ecosystem stay ahead of highly complex and ever evolving state and federal regulations and litigation,” F&I Sentinel CEO Stephen McDaniel said in the news release. “This acquisition will expand our existing F&I refund solution and gives Express Recoveries clients access to a full suite of compliance solutions concerning F&I products.

“Our existing ecosystem of over 600 F&I product administrators that are users of our platform combined with Express Recoveries’ expertise in processing cancellations will create the only compliance solution in the market that covers the entire lifecycle of an F&I product — from origination to servicing,” McDaniel added.

Express Recoveries connects finance companies with providers and dealers to process product cancellation refunds, minimizing compliance risk and building consumer and dealer relationships.

The solution can facilitate a streamlined process flow, including initiating cancellations, determining refunds, obtaining recoveries on behalf of consumers and lenders, and helping to ensure adherence with mandates, which can vary by state.

“Cox Automotive is committed to improving car buying for everyone, and sometimes that requires choosing the best steward to perform a specialized function,” said Lori Wittman, president of retail solutions for Cox Automotive. “Express Recoveries is an important, niche post-sale function for the industry.

“F&I Sentinel’s expertise and proven track record in F&I product regulation make it the ideal company to ensure Express Recoveries clients continue to receive the best-in-class service and solutions they expect. Cox Automotive remains focused on delivering car shopping, selling, financing and transaction solutions for lenders, dealers, OEMs, and consumers.”

Perhaps not of the same magnitude of size, this move arrived after Cox Automotive agreed to sell its Manheim Canada business to OPENLANE in December.