Together, with our combined scale, talents and product line-ups, we will be able to provide a complete digital workflow from initial customer contact and first pencil to finance, aftermarket and eContracting across online, mobile and in-store channels.
Farmington Hills, MI (PRWEB) December 20, 2016
RouteOne has acquired the assets of MaximTrak and its related business and will operate MaximTrak through its wholly-owned subsidiary RouteOne Holdings. This will bring together two long-time partners to deliver a seamless vehicle F&I sales process.
The vehicle purchase process has undergone fundamental changes in recent years, and will continue to do so with increasingly rapid speed. Consumers and dealers alike expect consistency and seamless transition across all physical and digital sales channels. As a result, both RouteOne and MaximTrak have been pursuing aggressive strategies to innovate the sales process on behalf of their respective customers. RouteOne and MaximTrak’s complementary strategies have now come together to deliver on the vision of a complete sales and F&I solution that meets OEM, dealer and consumer needs – any time, any place, and on any device.
- MaximTrak will be operated by RouteOne Holdings, a wholly-owned subsidiary of RouteOne.
- MaximTrak leadership and team members remain in place, and continue to operate from the MaximTrak PA offices.
- Justin Oesterle and Jim Maxim, Jr. will operate as the senior management team of MaximTrak.
- RouteOne and MaximTrak serve: 1,400+ finance sources, 18,000+ dealers, 130+ dealer service providers, 80+ aftermarket insurance providers, and 10+ OEMs.
- RouteOne and MaximTrak employ approximately 400 people with offices in Michigan, Pennsylvania and Canada, as well as local staff in major markets.
- Directly and through partnerships, RouteOne and MaximTrak have customers in the US, Canada, Puerto Rico, and Mexico.
- RouteOne and MaximTrak product integration began prior to the acquisition and will now be further developed and strengthened on an expedited basis.
- RouteOne was founded in 2002 by Chrysler Financial (now TD Auto), FMCC, GMAC (now Ally), and TFS.
- MaximTrak was founded in 2003 by the Maxim family.
“RouteOne has had a long and successful relationship with MaximTrak, and we share very similar cultures, values and DNA,” said RouteOne CEO Justin Oesterle. “We are excited to have made this acquisition happen as we believe it creates significant value for all our customers at the OEM, finance source, provider, and dealer levels. It also creates strategic and economic value for RouteOne’s owners: Ally, Ford Credit, TD and Toyota Financial, all of whom supported the investment. I, and the entire RouteOne team welcome MaximTrak to the family. We look forward to doing great things together for the industry.”
“The entire MaximTrak team is excited and energized by the growth opportunities that this transaction represents for our customers, employees and key stakeholders. Like RouteOne, MaximTrak is an established, innovative leader in the F&I space,” said MaximTrak President, Jim Maxim, Jr. “Where RouteOne excels in the finance elements of F&I, we excel in the “I” side of the equation and in developing technologies that optimize the dealership process and ultimately dealer profitability through F&I product sales. Together, with our combined scale, talents and product line-ups, we will be able to provide a complete digital workflow from initial customer contact and first pencil to finance, aftermarket and eContracting across online, mobile and in-store channels. With that, our emphasis will be on helping our customers deliver a buying experience they control and one that consumers actually want.”
The acquisition is effective as of December 20, 2016.
RouteOne was formed in 2002 by Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services to improve the F&I process for automobile dealers and their customers. Connecting thousands of dealers and finance sources in North America for vehicle financing, RouteOne’s platform delivers a comprehensive suite of F&I solutions across multiple channels: in-store, online, mobile, and via third-party solutions. Its flagship products include credit applications, eContracting, compliance, and online/mobile retail services. In addition, RouteOne enables dealer choice across a wide variety of best-in-class providers through open integrations with over 130 DSPs. More information is available at http://www.routeone.com.
MaximTrak Technologies’ industry leading, fully integrated F&I suite is the preferred solution for top names in the industry concerned with profitability, compliance, and the customer experience. With some of the most customizable tools in the industry, MaximTrak has completely transformed the digitized F&I transaction for F&I Managers, Dealer Principals, OEMs, and the modern consumer. These tools include; interactive menus, e-rating, sales aids, videos, customer survey, executive reporting, electronic contracting, and so much more. MaximTrak is pioneering the future of F&I and automotive retail. Discover the digital difference at http://www.maximtrak.com.