Spanos Barber Jesse & Co said July 31 that it closed its investment in ALS Resolvion LLC. Financial terms weren’t announced. ALS Resolvion, of Shelton, Connecticut, contracts with lenders to manage the repossession process on more than 100,000 vehicle recoveries annually.
July 31, 2018 – Walnut Creek, CA: Spanos Barber Jesse & Co. (“SBJ”), a private investment firm with offices in the San Francisco Bay Area and Dallas, announced today that it has completed an investment in ALS Resolvion, LLC (“ALSR”). ALSR is one of the largest and fastest growing technology enabled collateral recovery solutions providers to banks, non-bank auto lenders and the captive financing arms of automotive OEMs throughout the United States. Two of the Co-Founders have retained a significant ownership stake in the Company, and the entire executive management team will remain in their current roles.
Initially founded in 1996, ALSR contracts with lenders to manage the repossession process on more than 100,000 vehicle recoveries annually, including locating the vehicles and utilizing a nationwide network of over 700 third-party asset recovery companies to recover vehicles on behalf of lenders. ALSR offers a fully scalable and customizable solution that combines a proprietary technology platform, efficient processes, and skilled people, all working together to minimize loss and maximize recovery for the Company’s lender clients.
“We are very pleased to be partnering with ALSR to leverage what we believe are the strongest management team and best technology platform in the industry to continue the Company’s history of exceptional growth,” said Tom Barber, Co-Founder and Managing Director at SBJ. “Throughout the diligence process, SBJ was extremely impressed with the depth and strength of the management team and we are honored that they chose us as their new partner,” he added.
“Since we merged ALS and Resolvion in 2014, we have enjoyed industry leading growth as lenders have responded favorably to our exceptional recovery results and uncompromising compliance program,” said CEO Mike Levison. “Our entire management team is excited about having the opportunity to extend upon our history of success in partnership with SBJ” continued Mr. Levison.
About ALS Resolvion
ALS Resolvion (initially Resolvion) was founded in 1996 in Shelton, CT as a construction and commercial equipment asset recovery business. In 2014, Resolvion merged with American Lending Services (“ALS”) to form ALS Resolvion. ALSR provides loss mitigation services, including location and recovery services, for a blue-chip customer base of auto lenders. The Company contracts with lenders to manage the repossession process on more than 100,000 vehicle recoveries annually, including locating the vehicles and utilizing a nationwide network of over 700 third-party asset recovery companies to recover vehicles. ALSR is an industry leader capable of handling virtually any recovery assignment for virtually any type of equipment. For more information, please visit www.alsresolvion.com
About Spanos Barber Jesse & Co.
Spanos Barber Jesse & Co. manages approximately $300 million of committed capital from offices in the San Francisco Bay Area and Dallas. SBJ invests in lower middle-market consumer, business services and healthcare services companies and has the flexibility to invest in control or non-control situations to finance buyouts, recapitalizations, acquisitions and growth. Founded by a team of professionals with over 75 years of experience growing companies as investors, executives and advisors, SBJ draws on extensive operating experience and domain expertise to support the strategic goals of its partner companies. For more information, please visit www.sbjcap.com