This is another positive step for us in the execution of SCM's growth strategy where we are increasing our market share.
Detroit, MI (PRWEB) July 31, 2009
Onyx Capital Advisors, LLC (OCA) announced today they have increased their equity position in Second Chance Motors Credit, LLC (SCM Credit) due to the increased demand for dealer financed credit.
Michael Farr, President of SCM Credit, stated, "The increased equity from OCA enables us to continue to execute our business model in our current markets allowing us to take full advantage of the limited lending climate that is prevalent in our economy today." In this climate, it is difficult for consumers to obtain financing due to the tightening credit standards of banks and customers credit scores being under attack due to the financial challenges facing the lending institutions. SCM Credit is poised and positioned to provide a much needed product to this market by extending a "second chance" at re-establishing consumer credit with a consistent history of good payments. Roy Dixon, Managing Partner at Onyx Capital, stated: "This is another positive step for us in the execution of SCM's growth strategy where we are increasing our market share."
About Onyx Capital Advisors, LLC
Onyx Capital Advisors, LLC (http://www.onyxcapitaladvisors.com), led by Roy Dixon Jr., is a private equity investment firm with in-depth industry knowledge, and highly developed processes for growing and improving businesses. The firm's focus is on established, domestic, primarily middle-market companies with annual revenues between $10 million and $250 million.
Onyx's strategy is to partner with the executive leadership of organizations that possess superior business models and that exhibit a strong desire to build successful companies. As partners, Onyx works with the management of the portfolio companies to drive operational improvements throughout all areas of their businesses. Specific emphasis is placed on sales and profit growth, market share leadership, innovation, cost improvements, and other value-creating activities.
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