ProMax Sold to Private Equity Firm
DAVENPORT, Iowa — Two weeks ago, John Palmer, who founded ProMax in 1994 as a special finance solutions provider, posted the following message: “I want to let all my friends and associates in the auto industry know that, after 23 amazing and wonderful years, I have sold ProMax.” Today, SNH Capital Partners, a San Diego, ... Read More »
DAVENPORT, Iowa — Two weeks ago, John Palmer, who founded ProMax in 1994 as a special finance solutions provider, posted the following message: “I want to let all my friends and associates in the auto industry know that, after 23 amazing and wonderful years, I have sold ProMax.”
Today, SNH Capital Partners, a San Diego, Calif.-based private firm, announced that it has acquired the automotive software provider. Financial terms of the transaction were not disclosed
“We are extremely pleased to invest in ProMax, a dynamic market leader with a 20-year history of consistent product innovation. We are excited to gain the experience and capabilities of the valuable team in Davenport, including Darian Miller, chief technology officer, and Shane Born, chief operating officer,” said SNH CEO and Managing Director Jevin Sackett. “SNH has a significant track record of providing strategic and operational expertise to its portfolio companies. We look forward to working with ProMax’s management to both continue and augment its customer value proposition of excellent service and innovation over the long-term.”
Palmer, who expanded ProMax’s product line into desking, CRM, finance menus, inventory management, reporting, and submission of credit applications in 1998, was not mentioned in the private equity firm’s press release. As for SNH, the addition of ProMax adds to its portfolio of automotive solutions companies, which includes data, credit, compliance, and fraud solutions provider National Credit Center.
The private equity firm describes itself as dedicated to acquiring companies in the lower middle-market. Its portfolio of companies includes providers of information, technology, and other business services to the automotive, financial services, human capital management, and energy sectors.
“I want to thank all the fantastic people that I have had the privilege of working with these last 23 years,” Palmer wrote in his LinkedIn post. “You are the reason we were so successful for such a long time! I look forward to the future, new opportunities, and challenges!”
More Industry

RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →
Auto Group Acquires Top-Performing Rooftop
Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.
Read More →
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →
BMW Concept Car Makes Fuel to Burn
The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.
Read More →
South Carolina Auto Group Downsizes
Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.
Read More →