ELMHURST, Ill. – Oak Group (Oak) and Total Warranty Services (TWS) are pleased to announce the formation of a strategic alliance.
The partnership will bring together the stability, infrastructure and long-standing history of Oak’s finance and insurance business with TWS’s agility, innovation and full suite of reinsured products. Eric Peterson, Executive Vice President of Oak and an associate since 1998, will continue to lead sales operations. Peter Shiakallis, Executive Vice President of Sales and an associate since 1992, will continue to lead the indirect sales channel, Administration Marketing Services, and Marty Stockhausen will continue in his role as CFO.
Oak Group was founded in 1975. Since that time, the Oak field force has led the industry in F&I consulting and profit improvement.
Already a leader in the reinsurance space, Oak will leverage TWS’s cutting edge expertise to bring additional value to its dealers and agents. In addition, both companies are leaders in the Lifetime Warranty business. The combined volume of both organizations will make this one of the largest distribution channels for these programs in the country. Finally, both companies are skilled in bringing products to market with the speed and flexibility that the dealer market demands. This capability will be greatly enhanced though the partnership.
Eric Peterson stated “We are very excited to be able to bring additional opportunities and programs to our dealer clients to further enhance their profitability. This partnership will both broaden the scope of our products and allow for greater dealer reinsurance profit participation flexibility.”
TWS managing shareholder and reinsurance expert Matt Joffe added “We have the capability to provide custom profitability solutions for any dealership. We can provide reinsurance programs, retrospective commissions, guaranteed retrospective commissions, or any combination thereof to meet the dealer’s needs. We believe that our turnkey solutions will allow Oak to continue its historic growth and allow its dealers to make more money.”
