ATLANTA, GA – March 1, 2012 – (Motor Sports Newswire) – Manheim has completed, on schedule, its planned purchase of Dealer Services Corporation (DSC), which reinforces its commitment to provide inventory financing to independent dealers. DSC is a used vehicle floor plan company for independent dealers based in Carmel, Ind., and complements Manheim’s current lending products provided through Manheim Financial Services (MAFS).
“We are excited about all the benefits of this acquisition for customers,” said Sandy Schwartz, president of Manheim. “Manheim is always looking for ways to enhance our service offerings to customers, and adding the DSC line to the existing MAFS products allows us to broaden our lending scope and customer base. We can now give dealers access to broader offerings of products and additional staff to service their in-lane and online needs. We also have access to state-of-the-art technology and digital tools that will enhance our customers’ experience and improve Manheim’s efficiencies and opportunities for lending. Finally, we have gained a group of employees that have a strong culture of customer focus and service, which will add to the high level of personalized service our MAFS employees deliver.”
“Like Manheim, DSC is a company that focuses on the success of its customers,” said Brian Geitner, president of DSC. “Our mission of empowering our customers with strategic products and services is only more enhanced by joining the Manheim group of companies. It’s easy to see how MAFS’ and DSC’s service platforms will complement each other and broaden Manheim’s ‘service reach’ across the country. We are proud to add the DSC brand to Manheim’s strong lineup of products, services and companies,” said Geitner.
Adding the DSC line to MAFS’ existing products will give dealers access to broader offerings of products and additional staff to service their needs both in-lane and online. The company also gains technology that dealers and employees will use to make it even easier for customers to get information via their smart phones and desktop about their lines of credit with Manheim.
Manheim will continue both the MAFS and DSC brands and operate the companies separately.
Barclays Capital acted as the financial advisor to Manheim, while William Blair & Company acted as the financial advisor to Dealer Services Corporation.
About Dealer Services Corporation (www.DiscoverDSC.com)
Dealer Services Corporation offers full service operations throughout the U.S. and is the largest independently-owned inventory finance provider for used automobiles. DSC provides flexible and cost effective inventory financing solutions to dealership operations in the areas of: Retail, Wholesale, Rental, Salvage and Lender Access.
About MAFS (www.usemafs.com)
Manheim Financial Services (MAFS) is a division of Manheim, the world’s leading provider of vehicle remarketing services. MAFS serves thousands of franchised and independent car dealers in the U.S. and Canada with short and long term floor planning. MAFS offers all dealers a preferred status with optimum customer service, while providing simplicity in the process of buying, selling and floor planning vehicles. MAFS is accepted at every North American Manheim location as well as most National Auto Auction Association (NAAA) member auctions.
About Manheim (www.manheim.com)
Manheim is the world’s leading provider of vehicle remarketing services. Through its 113 worldwide wholesale operating locations and digital services, Manheim influences every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis.
Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and digital offerings. Manheim.com receives nearly 900,000 visits each week.
Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. In 2011, Manheim handled nearly 8 million used vehicles, facilitating transactions worth more than $50 billion in value.
Headquartered in Atlanta, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company.