Nov. 2, 2009 – Hot News
November 2, 2009
Filed under News
Industry F&I products provider acquired
F&I products provider RPMOne has been acquired by a corporation that owns similarly high-profile companies in other vehicle industries.
RPMOne, the Jupiter, Fla.-based company, has become part of Warranty Holdings, a company backed by Golden Gate Capital, a $9 billion private equity firm, the companies recently announced in a joint press release.
Barry Miller, president and founder, told Powersports Business the acquisition provides the company a wealth of new staffing and expertise plus more service and support to its consumers.
“We’re excited,” he said. “We think it’s a bright future.”
Some of the results of the new ownership, including a new training platform, are expected to be unveiled later this year and in the first quarter of 2010.
RPMOne, which works with 400 dealers, will be joining a corporation that includes Interstate National Dealer Services, which has administrated more than 2 million service contracts in different new and used vehicle categories, and National Warranty Corp./Payment Insured Plan Inc., a Northwest-based F&I product company for the auto industry.
“They all have different strengths and we’re looking to exploit them and put all the best practices together to create a uniform technological and sales process and customer service platform,” Miller said of the different brands that are part of Warranty Holdings.
Miller and Sean Hayes, the company’s chief business development officer, will remain with the company under the new ownership.
“We’re going to be focused on figuring out how do we take this combined entity and take all of its resources to grow powersports,” Miller said, noting the company’s products and services will remain under the RPMOne brand name.
What will change is the company’s staffing levels. Miller believes the company’s back-end support for its consumers will double or even triple with the ownership change.
With that future support, Miller believes the company could be in a position to increase the number of dealers it works with.
RPMOne’s new corporation, Warranty Holdings, is owned by Golden Gate Capital, a private equity firm that has invested in a range of industries. Golden Gate’s portfolio includes companies in software and IT services, electronics, semiconductors and retail and restaurants, including Express and Eddie Bauer.
New tool allows dealers to compare benchmark numbers
ADP Lightspeed has developed a benchmark tool that allows dealers to compare dealership performance, margins, value and other key actions nationally, regionally and on an individual dealership level.
ADP will release this new benchmark tool, called Databack, in its LightspeedNXT product, reported the company.
Databack data will be automatically collected nightly across the country from hundreds of dealers and made available to pull real time inside LightspeedNXT. This allows dealers to do extensive market research in a matter of seconds. For example Databack reports allow dealers to check margins on used units or hourly rates within a region or nationally to compare with their own.
In addition to providing national and regional benchmarks for dealers, Databack provides an in-depth view into the individual dealership’s performance. Reports such as average parts tickets, hours per RO or service history give dealers a quantitative view into their dealerships individual performance and can help target underperforming employees.
Databack is a subscription-based product and will be available to dealers currently on the system for download in version 3.9.1 due for release in November.
New highway sound legislation drafted by AMA
The American Motorcyclist Association (AMA) created model legislation to evaluate on-highway motorcycle sounds through science-based measurement, according to the AMA.
It's based on the Society of Automotive Engineers' (SAE) new J2825 standard, “Measurement of Exhaust Sound Pressure Levels of Stationary On-Highway Motorcycles.”
The AMA produced similar model legislation for off-highway motorcycles several years ago.
The model legislation can be downloaded from the “Rights” section of the AMA Web site at AmericanMotorcyclist.com.
New distributor for luggage
SHAD, a European manufacturer of motorcycle luggage, has part ways with Tucker Rocky as a distributor.
As of Oct. 15, Tucker Rocky will no longer be a distributor of SHAD Motorcases & Accessories,?SHAD?said in a press release. “We have come to the conclusion that Tucker Rocky’s business model does not align with our business objectives,”?the company’s press release stated. “SHAD is a very new product in the U.S. and we believe it needs a very dedicated and focused effort for strong growth and continued success.”
SHAD USA will be the exclusive importer and distributor for SHAD products in the United States. SHAD USA will focus on distribution via a dealer direct business model, while developing strategic alliances with select brands SHAD USA is currently the official Top Case supplier for KYMCO USA.
For more information, contact 877/545-SHAD or firstname.lastname@example.org.