Houlihan Lokey Advises National Auto Care
Houlihan Lokey is pleased to announce that National Auto Care Corp. (NAC), a portfolio company of Trivest Partners, has been acquired by Lovell Minnick Partners (LMP). The transaction closed on October 1, 2018.
Established in 1984, National Auto Care is one of the longest operating providers of products such as vehicle service contracts, guaranteed asset protection, limited warranty, tire, wheel, and a full suite of ancillary protection products nationwide. Through its independent agents, NAC supports over 2,300 partners that distribute its products. These include automobile dealers, credit unions, financial services companies, recreational dealers, and other strategic partners across North America. Additionally, NAC has unique value-enhancing services that support its distributors with their branding, marketing, and sales activities. The company is led by President and CEO Tony Wanderon, an accomplished veteran and innovator in the automotive protection industry.
Lovell Minnick Partners is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles, and New York, LMP provides developing companies with equity capital to support private company recapitalizations and leveraged buyouts and pursue growth initiatives. Since its inception in 1999, Lovell Minnick has raised $2 billion in committed capital and has completed investments in over 45 companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance brokerage and services, financial and insurance technology, and business services.
Trivest Partners is a private investment firm that focuses on partnering with founder/family-owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 250 transactions, totaling in excess of $6 billion in value.
Houlihan Lokey served as the exclusive financial advisor to NAC and Trivest Partners and assisted in structuring and negotiating the transaction. The transaction highlights Houlihan Lokey's continued position as a leading advisor within the insurance and warranty industry.
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