Here’s another update to start 2021 from our busy mergers and acquisitions desk.

Protective Life Corp., overseer of Protective Asset Protection and a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, announced this week it completed the transaction to acquire the Revolos family of companies. Revolos offers a suite of F&I products, including vehicle service contracts, guaranteed asset protection (GAP) coverage and ancillary products serving the automotive, recreational vehicle and powersports industries.

Details that this transaction was coming first surfaced on Sept. 25. The culmination boosted M&A announcements the string of developments during the first week of the year from Cox Automotive, First Investors Financial Services and Sonsio.

“The closing of this transaction marks another milestone for Protective and an exciting new chapter in the growth of the Asset Protection Division,” Protective president and chief executive officer Richard Bielen said. “We are excited about the opportunity to expand our market reach and deliver valuable solutions to more customers by adding Revolos’ complementary product portfolio and distribution channels to our current business lines.”

Scott Karchunas, president of Protective’s Asset Protection Division added, “Both Revolos and Protective have built strong organizations with a focus on meeting the needs of agents and dealers. We are excited to welcome the Revolos team members to the Protective family. Together we can continue growing and protecting more customers.” 

Protective Asset Protection has been providing F&I solutions to the industry for more than 55 years. Its programs include, among others, extended service contracts, GAP and ancillary products to protect consumers’ investments in automobiles, recreational vehicles, watercraft and powersports vehicles.

Protective Asset Protection also offers a portfolio of dealer participation programs, training and technology solutions through a network of general agents as well as a direct sales force.

“Revolos is a diversified, full-service F&I provider that offers a suite of products that complement Protective’s existing portfolio and distribution channels,” the company reiterated

This is the fifth acquisition completed since Protective became part of Dai-ichi in 2015.

“Dai-ichi considers Protective to be its North American growth platform and continues to aim for further expansion in the region, through both acquisitions and organic growth in Protective’s retail sales,” the company said.

Maynard, Cooper & Gale acted as external legal counsel for Protective in this transaction.

Reed Smith served as external legal counsel for Revolos, and Houlihan Lokey was the financial advisor to Revolos in this transaction.