Houlihan Lokey Advises Revolos

Houlihan Lokey is pleased to announce that the Revolos family of companies (Revolos) has been acquired by Protective Life Corp. (Protective). The transaction was announced on September 25, 2020, and closed on January 4, 2021.

Revolos, acquired by Golden Gate Capital (Golden Gate) in 2006, is an especially long F&I provider for the RV and powersports industries. Headquartered in Atlanta, it was founded in 1980 and integrates three F&I companies: National Dealer Services, NWC/PIPI, and RpmOne. Revolos offers vehicle service contracts (VSCs), guaranteed asset protection (GAP), and ancillary products. The acquisition provides Protective with both earnings growth and expanded distribution opportunities.

Protective Asset Protection, a premier life insurance company since 1907, has been providing F&I solutions to the automotive industry for more than 55 years. Its programs include, among others, extended service contracts, GAP, and ancillary products to protect consumers’ investments in automobiles, RVs, watercraft, and powersports vehicles. Protective Asset Protection also offers a robust portfolio of dealer participation programs, training, and technology solutions through a network of general agents as well as a direct sales force. Revolos is a diversified, full-service F&I provider that offers a suite of products that complement Protective’s existing portfolio and distribution channels.

This transaction represents Protective’s 58th acquisition. It is the fifth deal completed since Protective became part of Dai-ichi Life Holdings in 2015. Dai-ichi Life Holdings, a global leader with more than $548 billion in total assets, considers Protective to be its North American growth platform and continues to aim for further expansion in the region—through both acquisitions and organic growth.

Houlihan Lokey served as the exclusive financial advisor to Revolos and assisted in structuring and negotiating the transaction. This deal highlights Houlihan Lokey’s continued position as a leading advisor within the insurance and warranty industry.