Dock Square Capital has acquired a minority stake in St. Petersburg, Florida-based Protect My Car, a provider of extended warranty products for vehicles. No financial terms were disclosed. In addition to the funding, Governor Jeb Bush, managing partner and chairman of Dock Square Capital, will join PMC’s board of directors. PMC is a portfolio company of Crestview Capital.
Coral Gables, FL & St. Petersburg, FL – April 2, 2019 – Protect My Car (“PMC” or the “Company”) today announced that funds managed by Dock Square Capital (“Dock Square”) have invested a minority stake in the Company in a series of transactions. Financial terms of the transaction were not disclosed. Governor Jeb Bush, Managing Partner and Chairman of Dock Square Capital, will join as a member of the Company’s Board of Directors.
Headquartered in St. Petersburg, FL, PMC is one of the nation’s leading providers of extended warranty products for vehicles, including vehicle service contracts. In 2018, for the second consecutive year, PMC earned a spot on the Tampa Bay Business Journal’s (TBBJ) “Fast 50,” which recognizes the 50 fastest-growing private companies in the Tampa Bay area. The Company also placed 663 on the Inc. 5000 and was named the 2nd best place to work in Tampa Bay.
Craig Rubino, founder and CEO of PMC, said, “We are excited about our new partnership with Dock Square. We believe Dock Square will add tremendous value as we accelerate our growth plans through strategic partnerships. We look forward to a mutually beneficial and rewarding partnership with Dock Square and Crestview Partners for many years to come.”
Governor Bush said, “We have been greatly impressed by PMC’s service quality, operational acumen, and customer-focused innovation. We look forward to working with management and our partners at Crestview to unlock PMC’s full potential.”
Founded in 2005, Protect My Car is one of the leading providers of extended warranty products in the United States. The Company is based in St. Petersburg, Florida and serves as a vertically-integrated seller and administrator of vehicle service contracts and maintenance products that protect vehicle owners from unexpected costs of servicing, repairs and parts replacement. The Company’s extended coverage plans are ideal for consumers with cars less than 10 years old and with fewer than 150,000 miles, and whose manufacturer’s warranties have expired or will expire soon. Consumers with vehicles older than 10 years or with more than 150,000 miles can take advantage of Protect My Car’s “Ambassador” line of products, which include 24/7 roadside assistance, rental car reimbursement and repair bill savings of at least 50 percent. All of Protect My Car’s products are offered with a “Free Look” trial period – if new customers are not completely satisfied, then they can contact Protect My Car’s Customer Service Department within 30 days and receive a full refund of their down payment. For more information, please visit: https://protectmycar.com.
About Dock Square
Dock Square Capital is a merchant bank founded on the core principles of transparency, creativity, trust, and alignment of interest with its partners and investors. Dock Square operates at the nexus of a global network of entrepreneurs and families and possesses the structural flexibility to add value as principal investors, strategic advisors, and joint venture partners. For more information, please visit: www.docksquarecapital.com.
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $8 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials, energy and financial services. For more information, please visit: www.crestview.com.