Internet Brands Acquires Auto Credit Express
Combination of Two Automotive Technology Leaders Makes Internet Brands Automotive One of North America's Largest Subprime Automotive Solution Providers
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 06/01/16 -- Auto Credit Express, a leader in subprime automotive financing technology, has been acquired by Internet Brands. The deal immediately bolsters Internet Brands'' presence in the subprime automotive category and creates one of North America''s largest full-service subprime automotive solution providers, serving both consumers and automotive dealerships.
Auto Credit Express has connected credit-challenged consumers with automotive financing from dealerships and other lending partners since its founding in 1999. Beyond loan matching, the company offers dealerships advanced subprime training, propriety online tracking software, and an expert lead system.
"We''ve always admired Auto Credit Express''s commitment to unwavering business ethics and a top-notch customer experience -- values that are shared by Internet Brands," said Todd Dearborn, Vice President of Sales at Internet Brands'' Automotive division. "We look forward to developing innovative new ways to serve the large and growing subprime automotive market as we join forces."
Auto Credit Express joins Internet Brands'' rapidly growing Automotive division, which currently serves the subprime automotive market through its flagship CarsDirect business. In recent years, subprime loan matching has become a fast-growing business line for CarsDirect, complementing its award-winning new and used car lead products.
"Internet Brands'' unparalleled automotive expertise and proven track record of growing the businesses they acquire makes us confident that they''re the ideal partner for us," said Rich LaLonde, founder of Auto Credit Express.
Added Jack Lintol, General Manager at Auto Credit Express: "The future is bright for Auto Credit Express as we work closely with the Internet Brands team to take our business to the next level and serve our valued customers even better than ever before."
The Auto Credit Express brand and existing product offerings will be retained post-acquisition, and the company will continue to operate from its headquarters in Auburn Hills, Mich. Auto Credit Express was represented by Quarton International in the transaction.
Headquartered in El Segundo, Calif., Internet Brands® is a fully integrated online media and software services organization focused on four high-value vertical categories: Automotive, Health, Legal and Home / Travel. The company''s award-winning consumer websites lead their categories and serve more than 100 million monthly visitors, while a full range of web presence offerings has established deep, long-term relationships with SMB and enterprise clients. Internet Brands'' powerful, proprietary operating platform provides the flexibility and scalability to fuel the company''s continued growth. For more information, please visit.
Auto Credit Express® is a leading provider of automotive special financing solutions, including loan matching, consulting services, and automotive special finance management software. Each month, the company provides more than 150,000 credit-challenged consumers with automotive financing services through its network of more than 1,200 dealerships and lending partners. The company''s relentless focus on the customer experience has earned it an A+ rating from the Better Business Bureau. Auto Credit Express was founded in 1999 by Rich LaLonde, who was joined at the company shortly thereafter by Dave LaLonde, who oversaw development of the company''s software applications. For more information, please visit .
Quarton International (), with offices in Berlin, Detroit, Graz, Leipzig, London, Munich and Zurich, provides merger & acquisition and capital raising advisory services to the global middle-market. Quarton International''s principals have closed more than 500 transactions in 30 different countries. Quarton International was founded in 2015 following the merger of Quarton Partners and Blue Corporate Finance.
Joe Ewaskiw
Internet Brands
(310) 280-4539
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Datum: 01.06.2016 - 07:30 Uhr
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