Cliff Banks - The Banks Report

Dealership Compliance a Hot Space as KPA Acquires ComplyNet

October 23, 2023 — KPA, a compliance services provider, announced last week it is acquiring ComplyNet, a Columbus, OH-based firm providing end-to-end compliance software for automotive dealerships. Phil Troy founded ComplyNet in 1994 in Chicago and sold it in 2018 to an investment group led by Alexis Jacobs, owner of Columbus Fair Auto Auction, and,… Continue Reading

Lendbuzz Obtains $45 Million Capital Raise

Lendbuzz Obtains $45 Million Capital Raise

October 9, 2023 — Since Lendbuzz CEO and Co-Founder Amitay Kalmar joined us on stage at the AUTOVATE conference in December last year, his company revenues jumped more than 80% in 2023, and has just announced a $45 million raise in equity funding along with $300 million a forward flow facility. The $45 million infusion… Continue Reading

Asbury in Talks to Acquire Jim Koons – An Analysis

Asbury in Talks to Acquire Jim Koons – An Analysis

September 7, 2023 — This week, the Asbury Automotive Group filed an 8-K with the SEC, alerting the market it is talking to the Jim Koons Automotive Companies about purchasing its 21 dealerships.  (UPDATE: Asbury announced it is acquiring Koons — Read more Here.) The filing most likely was precipitated by the news leaking out… Continue Reading

Cliff Banks - The Banks Report

TradePending, With Investor Capstreet, Acquires Snapcell

August 15, 2023 — Since a recapitalization investment from the Houston-based Capstreet Group in 2021, TradePending has acquired two companies — AutoAPR in 2022, and Snapcell, a transaction announced this week. Snapcell, a SaaS automotive video marketing platform, was founded by Brent Williams in 2018 in the U.K. Its U.S. headquarters are in Tampa. It… Continue Reading