Primeritus Financial Services Acquires Capital Recovery Group, LLC; Name Changes to Find Track Locate, Inc.
Jun 28, 2018, 13:56 ET
NASHVILLE, Tenn., June 28, 2018 /PRNewswire/ -- Primeritus Financial Services, Inc. – the leading provider of recovery management, skip tracing, and remarketing services to the auto finance industry in the U.S. – today announced the acquisition of Capital Recovery Group, LLC (CRG). Based in Tucson, Arizona, CRG is the only recovery solution company dedicated solely to the powersports community. CRG, founded by Nic Spallas, Adam Jones, and Dennis Louderback, is the seventh acquisition by Primeritus since 2012.
"We are very selective when considering potential acquisition targets, evaluating many different aspects of the company," said Scott Peters, President, and CEO of Primeritus. "We were very impressed when we talked to the team at CRG and knew right away that this would be a great addition to the Primeritus Family of Companies."
Chris McGinness, SVP of Operations for Primeritus, added, "CRG has an excellent reputation within the powersports industry. We look forward to working with their team to enhance their service offerings and continue to drive innovation, compliance, and efficiency for CRG's and Primeritus' clients." McGinness continues, "While Primeritus has a presence in the powersports market, this acquisition allows us to grow our footprint significantly in this arena."
"We are delighted to join Primeritus which is the leader in the recovery, skip tracing, and remarketing services industries," said Dennis Louderback, Vice President and General Manager of CRG. "And we look forward to moving our company toward a new level of quality and service."
Primeritus Financial Services reports that with the acquisition, CRG will undergo a name change. The new company will be known as Find Track Locate, Inc.
About Primeritus Financial Services: Primeritus Financial Services is a national provider of repossession management, remarketing, titled services and skip tracing services to the auto finance industry in the U.S. and Puerto Rico. Primeritus provides clients with value-added, outsourced repossession management and skip tracing services, leveraging a national network of certified agents and unique investigative techniques to quickly and reliably secure customers' collateral. Through leadership, service and performance, Primeritus Financial Services offer the trifecta of repossession services: locate, recover and remarket. For more information, please visit www.primeritus.com.
About Capital Recovery Group, LLC / Find Track Locate, Inc.: Capital Recovery Group provides tailored recovery services and bankruptcy management exclusively to powersport lenders in all phases of delinquency. CRG is the largest in its industry, with the highest recovery rates nationwide.
SOURCE Primeritus Financial Services, Inc.