Primeritus Financial Services, a national provider of repossession management, remarketing, title services, and skiptracing services to the auto finance industry, is taking its first steps into the powersports industry with the acquisition of Capital Recovery Group.
Tucson, Ariz.-based Capital Recovery Group provides tailored recovery services and bankruptcy management exclusively to powersports lenders.
This acquisition marks the seventh since 2012 for Primeritus, which has mainly served the auto industry.
Through the acquisition, Primeritus will increase its activity in the powersports space and will be able to “grow our footprint significantly in this arena,” Chris McGinness, senior vice president of operations for Primeritus, said in a press release.
CRG will undergo a name change following the acquisition. The new company will be known as Find Track Locate Inc.