IAS News and Press
IAS acquired by CIVC Partners
A FINANCIAL SERVICES INVESTMENT
Mar 10, 2008
CIVC Partners
THE INVESTMENT
CIVC Partners recently partnered with management to acquire Innovative Aftermarket Systems, L.P. http://www.iasdirect.com/ and related entities (collectively, "IAS"), a leading provider of ancillary vehicle finance and insurance products sold through automotive dealers. As part of the transaction, members of the management team made significant investments in IAS, demonstrating their long-term commitment to the Company.
THE COMPANY
IAS offers ancillary vehicle finance and insurance products through a network of independent agents to automotive dealers in 49 states. Since its founding in 1984, IAS has expanded its offering to include a full suite of products, including guaranteed asset protection, tire and wheel coverage, theft deterrent systems, paintless dent repair, and appearance protection systems. In addition, IAS offers its dealers one of the leading technology platforms in the industry. IAS' success is driven by the breadth of its product offering, which is largely unmatched within the sector; its technology solutions, which enhance IAS' value proposition to dealerships; and its focus on providing best-in-class service to its agent, dealer, and end consumer customers.
VALUE-ADDED APPROACH
CIVC's partnership with IAS is a result of CIVC's long-term focus on the financial services industry and its proactive immersion initiative in the automotive finance and insurance sector. CIVC identified automotive finance and insurance over two years ago as an attractive sector exhibiting characteristics that meet CIVC's investment criteria and has spent considerable resources developing its knowledge base and network within the sector. The investment in IAS also represents another example of CIVC's investment strategy of partnering with experienced management teams running market-leading companies in targeted, niche industries. IAS is led by Garret Lacour and Bob Corbin, two visionary executives who have transformed IAS into a national market leader. In addition to the strategic guidance that CIVC provides to all of its portfolio companies, CIVC has also committed growth capital to IAS in support of management's plans for growth in the coming years.
About IAS
Innovative Aftermarket Systems (IAS) is the leading provider of F&I aftermarket programs to automotive dealerships. IAS offers a variety of products including, GAP, Invisible Phantom Footprints, Theft Avert, Super Polysteel, The Preferred Advantage, R.O.A.D. InTire, among others. Additionally, IAS' flagship software suite, SmartDealerProducts, provides revolutionary F&I software solutions for dealerships and their customers. IAS' training department, SmartDealerUniversity, provides ongoing training and feedback to ensure continued penetration, ethical presentations and increased profits for IAS dealership customers. Headquartered in Austin, Texas, IAS has hundreds of certified agents throughout the United States and provides technology solutions and aftermarket products for many of the top-100 dealer groups. For more information, please visit www.iasdirect.com.