Enterprise dealer management system company DealerBuilt has partnered with private equity firm ParkerGale Capital, a move that DealerBuilt says will accelerate the release of in-demand technologies such as an F&I e-signature platform and a corporate electronic document management system.
DealerBuilt, formed in 2008 to bring to market an enterprise DMS for automobile dealer and dealer groups, has seen increased demand over the years for its platform that it says emphasizes being a dealer advocate for new DMS services.
Mike Trasatti, DealerBuilt chief executive officer, said in a news release that the move will broaden the company’s reach and help it “grow in a responsible way.”
“In seeking this new partnership with ParkerGale, we wanted a partner who has a like-minded approach to this market, values what we built, yet understands the complexities we face, and has similar core values and culture that we worked hard to build," Trasatti said.
The capital investment and additional resources will help DealerBuilt expand its reach by helping to create the necessary structure for continued growth. The move will also help the company more easily bring to market the features that customers request.
“In conducting our due diligence, we studied DealerBuilt and discovered a uniquely valuable culture and a resounding number of employees that care about what they do in this business, which is something we plan to continue to build on,” said ParkerGale partner Ryan Milligan. “We think this is precisely what the auto industry is looking for — a high-tech and high-touch approach to dealership technology.
“From our industry research, we know there is significant demand from dealers and OEMs to work with vendors that have both the right technology and the right company culture; one that is truly focused on the auto dealer’s future growth and success.”
Presidio Technology Partners served as the exclusive financial adviser to DealerBuilt.