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NAC Recapitalizes with Trivest Partners

WESTERVILLE, Ohio – NAC has successfully completed its recapitalization with Trivest Partners, a private equity firm. With the addition of Trivest as the company’s primary investor and partner, the newly capitalized company is focused on aggressive growth and further enhancement of the administration, vehicle service agreement products and technology tools NAC provides. NAC’s management team, led by Christina Schrank, president, and Paul Leary, executive vice president, will continue to lead NAC’s daily operations, and former owners Bill Speaks and Pete Biscardi will continue to be active members of the company’s Board of Directors.

NAC administers vehicle service agreements and after-market products across the United States. Teaming with Trivest will enable NAC to continue its rate of growth by leveraging the additional capital to further enhance the services and products they provide.

Schrank stated, “This transaction with Trivest is a significant milestone for NAC that will enable us to provide even better products, services, technology and resources to our clients. I am pleased that NAC’s company values, family-focused culture and strong integrity will remain firmly planted with the recapitalization from Trivest, and excited that the partnership will empower us to more aggressively compete and win a larger share of the market.”

Biscardi, NAC’s former president, noted, “From the beginning, NAC has been focused on maintaining profitable growth and expanding our reach in the market. NAC’s partnership with Trivest provides us with the secure resources necessary to capture new market segments and support our future growth. It’s an exciting new endeavor that will provide a bright future for our employees, agents and clients. With the financial input of Trivest, and their insight on our board, NAC is now positioned to make a major impact in the marketplace.”

Troy Templeton, Trivest’s managing partner, said, “We are pleased to have partnered with the National Auto Care team and we look forward to helping the company continue its longstanding track record of growth and success. Pete, Bill, Christina and the entire NAC team have done an incredible job building a highly successful organization and we are excited about continuing the growth, innovation and passion the Company has displayed throughout its history.”

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