NEW YORK–(BUSINESS WIRE)–AutoManager Acquisition, Inc. (“AutoManager”), a provider of software solutions to the auto dealership industry is pleased to announce that it has acquired AutoAp, Inc. (“AutoAp”), the industry’s leading Recalls-As-A-Service company that provides safety recall management technologies to auto dealerships, fleet managers, and others who acquire, sell, service and manage vehicles. AutoAp also integrates its technology with those who service these clients. AutoAp was founded in 2013 by Mark Paul and will continue to be led by President, Mark Allen.
AutoAp helps auto dealers reduce liability, improve compliance, save time and money, increase fixed ops revenue and strengthen customer relationships through a suite of recall services for vehicles. Using advanced-processing, AI-powered technologies, and Business Intelligence, AutoAp automates the process of identifying and reporting open safety recalls for every vehicle in an inventory or fleet every day, providing clients with valuable and actionable recommendations related to managing recalls. AutoAp’s services provide the industry’s most accurate, timely and comprehensive recall information.
“AutoAp’s solutions are a valuable addition to the AutoManager portfolio, and this transaction is another important step in building a market-leading dealership software and services platform,” said James Clippard, Chairman of AutoManager and Managing Director of The Beekman Group, the majority owner of AutoManager. “Open recalls are an important safety and regulatory consideration for sellers and managers of auto inventory, and AutoAp provides impactful solutions that improve driver safety while delivering clear ROI to customers. We congratulate Mark Paul, Mark Allen and the AutoAp team on their strong momentum in the marketplace, and we look forward to expanding AutoAp’s reach throughout the independent auto dealership segment where there is a clear opportunity for better, more convenient tools for managing safety recalls.”
Mark Paul, CEO of AutoAp, added: “Safety recalls continue to be a challenge for the entire auto industry. Vehicles are getting more complex, and OEMs are adding more safety features and technology that increase the likelihood of safety recalls. In 2022 alone, there were more than 900 vehicle safety recalls impacting more than 30 million vehicles. It is virtually impossible for dealers to stay on top of safety recalls for vehicles in their inventory on a timely basis using manual processes and flawed sources.”
He continued, “At any given time, between 20-25% of all vehicles on the road have an open safety recall. Typically, nearly 15% of Franchised dealerships’ and 20% of Independent dealer inventory has an open safety recall. Rental car companies and fleet open rates are typically even higher. Since launching AutoAp, our recall management technologies have helped boost clients’ revenue and profitability, mitigate liability within the automotive industry, and enhance consumer safety. With the support of AutoManager, AutoAp is poised to play an even more significant role in facilitating the adoption of these important technologies.”
Presidio Technology Advisors acted as sole financial advisor to AutoAp.
About AutoManager
AutoManager is a leading provider of dealer management software (“DMS”), website tools, and customer relationship management (“CRM”) software to independent car dealerships with over 25 years of history helping independent and franchise dealers increase sales and business productivity. The company’s DeskManager offering is a next generation DMS designed to streamline every aspect of dealership operations with a powerful set of tools, ease of use, and robust set of security features. WebManager is a comprehensive website and digital marketing platform, offering dealerships a mobile-first, responsive, and secure online presence. Both products are scalable solutions for car, truck, boat, RV, and even airplane dealers in North America and can be expanded with numerous add-on modules to serve the needs of small and large dealerships alike. AutoManager serves thousands of users across the U.S. and Canada. For more information visit www.automanager.com.
About AutoAp:
AutoAp, Inc., a Portland, OR, based company helps clients increase profitability, decrease liability and reduce customers’/drivers’ risks, with the industry’s most comprehensive, accurate and timely safety recall solutions. The company provides the industry’s leading safety recall management technologies and services to help franchised and independent auto dealers, automotive solutions providers, fleet management companies, corporate and government fleets and rental car companies, increase driver safety, lower liability, generate service revenue and reduce recall management costs. Find out more at www.autoap.com
About The Beekman Group
The Beekman Group is a private equity firm, based in New York City, focused on building industry-leading companies in the healthcare, consumer, and business services sectors. The firm partners with management teams who desire to be significant owners and create meaningful value by accelerating organic and acquisition growth initiatives. Beekman manages over $1 billion in assets and has completed over 200 transactions since inception. For more information, please visit www.thebeekmangroup.com.
Contacts
Crystal Smith
Principal, Investor Relations
info@thebeekmangroup.com
