CHADDS FORD, PA — Flagship Credit Acceptance LLC, a prominent non-prime auto finance lender with more than $16 billion in lifetime originations, has reached a definitive agreement to sell its operating assets and business operations to affiliates of InterVest Capital Partners. The assets will be transferred to a newly formed entity, Flagship Financial Group LLC.
Flagship CEO Bob Hurzeler said the agreement positions the company to expand its lending footprint and strengthen relationships with its nationwide dealer network. He added that partnering with InterVest provides the financial backing needed to support the company’s next phase of growth.
Following the close of the transaction, veteran auto finance executive and founder Jim Landy will take over as CEO of Flagship. Hurzeler, who will assist during the transition period, said he looks forward to working with Landy and InterVest as the company begins its next chapter.
InterVest Managing Director Ari Rosenberg said the firm views Flagship as one of the leading non-prime auto finance platforms in the country. He noted that the investment provides immediate resources to fuel continued expansion and support the company’s employees as it scales.
Deutsche Bank Securities served as financial advisor to the seller, with McDermott Will & Emery as legal counsel. Piper Sandler advised the buyer, and Willkie Farr & Gallagher acted as purchaser’s legal counsel.
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