QCSA Holdings, a vehicle remarketing and total loss claims management company, has acquired Salvage Direct, salvage re-marketing company. No financial terms were disclosed. QCSA is owned by private equity firm Kinderhook Industries.
PRESS RELEASE
QCSA Holdings, Inc., a leading Vehicle Remarketing and Total Loss Claims Management company announced today it has purchased and will be uniting forces with Salvage Direct, one of the nation’s premier salvage re-marketing firms.
Salvage Direct was founded in 1998 by Bob Joyce as the first online auction in the total-loss claims management industry. The company also specializes in Commercial and Catastrophic-loss management services.
“Salvage Direct is a leader in Salvage Remarketing and Internet Auctions,” said John Lindle, CEO of QCSA Holdings. “We are thrilled to be combining forces with Bob Joyce and his entire team.”
The new entity is one of the nation’s largest salvage vehicle remarketing companies, with over 80 locations and more than 120,000 vehicles re-marketed annually.
“We’re excited to combine the best of both enterprises” said Bob Joyce, Founder and President of Salvage Direct. “This new partnership will provide our customers with more options, increased services, broader reach and enhanced recoveries.”
“This combination represents a viable national alternative for salvage vehicle re-marketing” added Jerry Sullivan, Executive VP. “Our national footprint will allow us to quickly expand innovative and unique total loss management services not currently available in the marketplace.”
About QCSA: QCSA Holdings, Inc. is an owner-managed company led by industry veterans John Lindle and Jerry Sullivan, along with equity sponsors Kinderhook Industries. Founded in 2003, Kinderhook Industries is a private equity firm that manages $650 million of committed capital, specializing in management-led recapitalizations of entrepreneur-owned companies.
For additional company information please contact Peter Burrows at 317-524-8569 or pburrows@qcsa.com.
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