KAR Strengthens Asset Recovery Capabilities with Consolidated Management Team

CARMEL, Ind., Dec. 11, 2018 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE: KAR), a global automotive remarketing and technology services provider, announced a consolidated management team for its software as a service businesses Recovery Database Network (RDN) and recently acquired Reno, Nevada-based Clearplan. The integrated management team increases synergies for these complementary business units. The consolidation will enable the development and delivery of tools with increased convenience, accuracy and transparency for its asset recovery customers and automotive lenders.

"KAR's acquisition of market leader Clearplan aligns with our goal to further develop the data-driven, user-friendly communications platform for customers in the repo industry," said Peter Kelly, KAR's president of digital services. "An integrated management team for RDN and Clearplan, one with tremendous domain expertise and a proven track record, will enable us to deliver the most powerful software platform in the industry and to offer smarter, faster and more effective solutions for our customers."

RDN provides specialized software and data solutions to customers across the repossession and disposition value chain. Similarly, Clearplan's digital platform provides recovery agents, drivers, forwarders and automotive lenders a centralized, mobile, cloud-based hub for repossession workflow and logistics management. Together, Clearplan and RDN connect thousands of recovery agents and automotive lenders to a streamlined vehicle recovery process — with reduced redundancies and increased actionable data.  

Under the new management structure, all RDN and Clearplan employees will report to Clearplan president Justin Zane as part of KAR's digital services group of companies.

"Established brands in the recovery industry, Clearplan and RDN have worked closely for several years now. By aligning the two, we can further enhance existing services and provide new product offerings to our lender and agent network," said Zane. "It's our goal to provide industry-leading products through a proven team that the repossession and lender community has come to know and trust." 

About KAR Auction Services

KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR's unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5.5 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 120 countries. Headquartered in Carmel, Ind., KAR has approximately 17,500 employees across the United States, Canada, Mexico and the United Kingdom. For more information go to www.karauctionservices.com. For the latest KAR news follow us on Twitter @KARspeaks.

SOURCE KAR Auction Services, Inc.

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http://karauctionservices.com/