ATLANTA - Manheim has completed, on schedule, its planned purchase of Dealer Services Corporation (DSC), which reinforces its commitment to provide inventory financing to independent dealers. DSC is a used vehicle floor plan company for independent dealers based in Carmel, Ind., and complements Manheim's current lending products provided through Manheim Financial Services (MAFS).
"We are excited about all the benefits of this acquisition for customers," said Sandy Schwartz, president of Manheim. "Manheim is always looking for ways to enhance our service offerings to customers, and adding the DSC line to the existing MAFS products allows us to broaden our lending scope and customer base. We can now give dealers access to broader offerings of products and additional staff to service their in-lane and online needs. We also have access to state-of-the-art technology and digital tools that will enhance our customers' experience and improve Manheim's efficiencies and opportunities for lending. Finally, we have gained a group of employees that have a strong culture of customer focus and service, which will add to the high level of personalized service our MAFS employees deliver."
"Like Manheim, DSC is a company that focuses on the success of its customers," said Brian Geitner, president of DSC. "Our mission of empowering our customers with strategic products and services is only more enhanced by joining the Manheim group of companies. It's easy to see how MAFS' and DSC's service platforms will complement each other and broaden Manheim's 'service reach' across the country. We are proud to add the DSC brand to Manheim's strong lineup of products, services and companies," said Geitner.
Adding the DSC line to MAFS' existing products will give dealers access to broader offerings of products and additional staff to service their needs both in-lane and online. The company also gains technology that dealers and employees will use to make it even easier for customers to get information via their smart phones and desktop about their lines of credit with Manheim.
Manheim will continue both the MAFS and DSC brands and operate the companies separately.
Barclays Capital acted as the financial advisor to Manheim, while William Blair & Company acted as the financial advisor to Dealer Services Corporation.