NEW YORK–(BUSINESS WIRE)–Beekman Investment Partners IV, LP (“Beekman”) announced today that an affiliate has completed an investment in AutoManager LLC (“AutoManager” or the “Company”) to support growth and a recapitalization of the Company. California-based AutoManager was founded in 1987 and is a leading provider of dealer management system (“DMS”) and website builder tools to independent auto dealerships in North America, providing a range of software modules used for managing dealerships such as inventory management, finance and insurance, Buy Here Pay Here, CRM, and accounting, as well as website and digital marketing solutions. AutoManager recently launched a browser-based version of its DMS, DeskManager Online, which allows dealers to access their software from any device at any time. In addition to DeskManager DMS, AutoManager offers website and digital marketing solutions through its WebManager toolkit, a mobile-first, responsive, and secure platform designed to provide independent dealerships with intuitive and robust tools for conducting online sales and marketing. Beekman partnered in the transaction with Company management and Beekman Industry Advisor, Allen Dobbins, the founder and former CEO of Autostar Solutions and Sigma Payment Solutions, who also co-invested in the transaction.
Kami Tafreshi, CEO of AutoManager, commented, “This investment is an important milestone for AutoManager, and we are thrilled to have Beekman as a partner for our next phase of growth. Our team has developed an impressive track record over many years of providing market leading tools and support to our dealership customers, and we look forward to building on this tradition with Beekman. We see significant opportunities in the industry and now have additional valuable resources to address them.”
Jim Clippard, Managing Director at Beekman, stated “AutoManager has a talented and long-tenured team that has significant experience and insight into the DMS industry. We saw a unique opportunity to support product development and other growth initiatives through an industry leading platform, and we are thrilled to be AutoManager’s capital partner going forward.”
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 $1 billion in assets and has completed over 130 transactions since inception. For more information, please visit www.thebeekmangroup.com.
About AutoManager, Inc.
AutoManager is a leading provider of Dealer Management Software (DMS) and digital marketing solutions 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 unmatched 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.
Contacts
Crystal Smith
csmith@thebeekmangroup.com
