NEW YORK and SCHAUMBURG, Ill. — Amynta Group, an insurance services and warranty protection products and services provider, has entered into an agreement to acquire American Auto Guardian Inc., a provider of protection products and services to an extensive network of automotive OEMs, agents, independent auto dealers, and dealer groups.
Terms of the transaction were not disclosed. The transaction will be funded by a combination of debt, cash on hand and new equity invested by existing shareholders and Amynta management. Closing of the transaction is subject to customary conditions and regulatory approvals.
AAGI currently operates through approximately 250 distribution partners and serves more than 4,500 dealers across the U.S. Together with AAGI, Amynta will serve approximately 15,000 dealerships in the U.S. and Canada through more than 1,400 agents, protecting more than 5.4 million vehicles. AAGI will continue to operate under the leadership of Tim Brugh and the company’s senior management team.
“I see many new opportunities for our clients, partners and employees.”
“AAGI has built an outstanding company over 20 years, focused on consistently delivering performance to their distribution partners and dealers, with a successful track record of growth and profitability under the leadership of Tim Brugh,” said Rob Giammarco, chairman and CEO of Amynta. “AAGI brings new distribution partners, OEM relationships, dealer networks and geographic reach, broadening our presence, particularly in the Midwest. AAGI expands our warranty offerings, providing incremental opportunities to drive growth across our business.”
“Joining forces with Amynta is a great opportunity for AAGI, as the enhanced scale and reach will help us deliver even more capabilities to our distribution partners and dealers. I see many new opportunities for our clients, partners and employees,” said Tim Brugh, CEO of AAGI. “We are looking forward to joining Amynta and continuing to provide our clients and partners with best-in-class products and services and the ease of doing business they have come to expect.”
Originally posted on F&I and Showroom