Kinderhook Industries announced today the acquisition of M. Davis Company, a repossession management and skip tracing company, by Primeritus Financial Services, a Kinderhook portfolio company. Matt Davis, CEO of the M. Davis Company, will join the Primeritus management team in an operational and executive position as Chief Operating Officer.
“Matt Davis has built a first-rate team and USA Recovery and Skip Masters have earned an outstanding reputation for client service and integrity in the automotive finance community. The combined organizations will further enhance the service offerings and options for both our automotive and non-automotive finance clients,” said Chuck Tapp, CEO of Primeritus.
M. Davis is a national provider of repossession management, skip tracing, transport and vehicle remarketing services through its USA Recovery and Skip Masters divisions. The company is based in El Dorado Hills, CA (www.mdavisusa.com).
Primeritus is a provider of repossession management, skip tracing, remarketing and title services to the auto finance industry. The company is based in Nashville, TN (www.primeritus.com).
Kinderhook partnered with Cam Hitchcock, Chuck Tapp and Phil Hanks in February 2012 to purchase the assets of ASR and has since rebranded the company as Primeritus. Kinderhook plans to pursue an aggressive growth strategy both organically and through acquisition. “The acquisition of M. Davis Co. is the next step in Primeritus’ strategy to build the leading national recovery services and skip tracing platform for our finance clients. Further, we continue to actively seek additional acquisitions to broaden our platform and service offering,” said Cam Hitchcock, Chairman of Primeritus.
“The acquisition of M. Davis brings together two exceptionally talented management teams and the combined platform will provide superior customer service in the repossession industry,” said Paul Cifelli, Managing Director of Kinderhook Industries.
Kinderhook Industries is a manager of private equity funds with $770 million of committed capital. Kinderhook primarily makes control investments in companies with transaction values of $10 million to $75 million in which the firm can achieve financial, operational and growth improvements. Kinderhook pursue private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm is located in New York, NY (www.kinderhook.com).
