PONTE VEDRA BEACH, Fla. – Courtney Hoffman, Senior VP of Mergers & Acquisitions of National Auto Care announced that National Auto Care has acquired five agencies - Profit Concepts, Pinnacle Dealer Services, Pritchard Insurance, RRC Companies (RRC) and Ace Financial Development Group (AFDG).
“It’s with great pride that we bring these agencies into the NAC Family knowing their history of forward-thinking innovation in the F&I space.” – Tony Wanderon
The announcement is made in partnership with the agencies’ principals – President Dave Griffiths of Profit Concepts; owner Rod Watson and VP of Sales Gene Patton of Pinnacle Dealer Services; owner Dave Pritchard and President Greg Welch of Pritchard Insurance; owner Rodney Porter of RRC Companies; and President Tim Bartholomew of Ace Financial Development Group.
These transactions are a critical part of National Auto Care’s growth strategy, as the award-winning auto finance and insurance (F&I) product provider continues its West Coast expansion and partnerships with best-in-class F&I agencies.
Profit Concepts was founded in 1979 as a general agency with a vision to help dealers maximize the profit of their sales, finance, and service departments. Profit Concepts and NAC have a long history together, including in 2018 when the two companies collaborated to develop National Powersports Care, a line of protection products exclusively for powersports vehicles.
Pinnacle Dealer Services is an Arizona-based agency founded in 2008 that provides a full-suite of products to automotive, RV, powersports and marine dealers primarily in Arizona and to other accounts throughout the Southwest.
Pritchard Insurance is a family agency that has been providing services in the Pacific Northwest, including Washington, Oregon, Idaho, Alaska and Montana for over 40 years.
RRC is an agency based in Oklahoma City covering auto dealers primarily on the West Coast and Midwest. The agency is led by Rodney Porter who has been in F&I sales for the past 15 years.
AFDG is an agency based in Portage, Michigan, covering auto dealers primarily in the Midwest. President Tim Bartholomew has more than 20 years of F&I experience.
The executive teams of each agency will continue to manage day-to-day operations of its office with the added support of NAC’s industry-leading products and best-in-class claims management capabilities.
“Expansion on the West Coast is an important piece of our agency acquisition strategy. These transactions enable us to continue to increase NAC’s current footprint in this market,” says Hoffman. “We are excited about our future partnership with these agencies. People make the difference.”
CEO Tony Wanderon adds, “It’s with great pride that we bring these agencies into the NAC Family knowing their history of forward-thinking innovation in the F&I space.”
Griffiths, with Profit Concepts, will play a major role in NAC’s significant West Coast expansion plans.
“As a combined company, the opportunities for growth are immense as we join forces with NAC’s nationwide team. The new systems, NAC team members, training for our dealers and new programs are all industry leading. National Auto Care’s generosity to both me and my employees will never be forgotten,” he says.
Likewise, the principals of Pinnacle Dealer Services, Pritchard Insurance, RRC Companies and AFDG each cited the people and culture at NAC as driving factors in their decision.
“We are genuinely excited about the possibilities and support provided by NAC and are continually impressed with the knowledge and expertise provided by their people,” said Pritchard and Welch in a joint statement, while Watson added, “What makes NAC stand out is the people and the atmosphere. They have outstanding products and technology, and we look forward to growing with their support.”
The acquisitions of these five agencies further accelerate NAC’s acquisitive growth strategy, which focuses on partnering with like-minded, high-growth agents that value a team-oriented culture.
Originally posted on P&A Magazine