LA JOLLA, Calif., Aug. 1, 2016 /PRNewswire/ -- Schwartz Advisors (SA), an M&A advisory and strategic planning firm serving the automotive aftermarket, announced that the firm has acted as the exclusive sell-side advisor to Aftermarket Telematics Technologies (ATT) in its successful sale to Innova Electronics Corporation.
ATT, headquartered in Grand Rapids, MI, is a software developer dedicated to automotive aftermarket applications. Its Vehimatics program collects vehicle DTC alerts and other data to allow vehicle owners to direct their service to the shop of their choice. Vehimatics ties the vehicle owner to both the service shop and to WDs and other parts suppliers who provide parts for vehicle repair.
"Selling ATT to Innova provides a great opportunity to grow the Vehimatics telematics program," said Jim Dykstra, the founder of ATT. "The SA team knows telematics technology and have all been operators in the aftermarket. That allowed them to really understand our business model and the value offered to Innova."
"We are very excited to be able to ramp up Vehimatics telematics as part of our new Innova Telematics Solutions division," said Mike Fitzgerald, Vice President and General Manager of Innova Fleet Services. "We look forward to working with Jim Dykstra to build an industry-leading telematics-based product line.
"We see telematics as vitally important for the auto aftermarket's future," said Derek Kaufman, Managing Partner for Schwartz Advisors. "We are very happy to have played a role in positioning the solid code of Vehimatics in the capable hands of Innova."
The SA team assisting ATT was led by Managing Partner Derek Kaufman, along with Managing Partners Keith Zar and Rick Schwartz.
About Schwartz Advisors
With unmatched industry expertise and experience, Schwartz Advisors provides comprehensive M&A advisory services, growth planning and strategic analysis to middle market automotive aftermarket companies and investors. SA's team of former automotive and transportation industry executives and current industry thought leaders bring their proven expertise to strategic planning challenges and merger and acquisition opportunities.
SOURCE Schwartz Advisors