Courtney Hoffman, senior vice president of mergers and acquisitions for National Auto Care, announced that National Auto Care acquired five agencies – Profit Concepts, Pinnacle Dealer Services, Pritchard Insurance, RRC Companies (RRC) and Ace Financial Development Group (AFDG).
The announcement is made in partnership with the agencies’ principals – President Dave Griffiths of Profit Concepts; owner Rod Watson and Vice President 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 AFDG.
Transactions are a critical part of National Auto Care’s growth strategy, as the F&I product provider continues its West Coast expansion and partnerships with best-in-class F&I agencies, the company said.
The executive teams of each agency will continue to manage day-to-day operations of its office with the added support of NAC’s products and claims management capabilities.
“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. 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, the company said.