Primeritus Financial Services, Inc.
Directory: Repo ServicePRINTER FRIENDLY PAGE
- 435 Metroplex Drive
Nashville, TN, 37211 US
- (888) 833-4238
- Mr Joe Mappes
- [email protected]
- About Primeritus Financial Services: Primeritus is a nationwide provider of repossession management, remarketing, titled services and skip tracing services to the financial services industry. Primeritus provides clients with value-added, outsourced repossession management, skip tracing and remarketing services, leveraging a national network of certified agents, and unique investigative techniques, to quickly and reliably secure and liquidate customers’ collateral. Through leadership, service, compliance, and performance, Primeritus Financial Services offer the trifecta of repossession services: locate, recover and remarket. For more information, please visit www.primeritus.com
|Title:||Executive Vice President|
|RMA Member:||Not a RMA Member|
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- Repo Service Additional information
- At Primeritus Financial Services, Inc. we provide our lender clients with value-added, outsourced repossession management and skip tracing services. We are neither a repossession agency nor a repossession agent. We leverage a national network of independent, certified and licensed repossession agents and unique investigative techniques to quickly and reliably secure our client’s collateral.
El Dorado Hills, CA – August 23, 2021 – It looks like even the repossession forwarding industry is hurting from low repossession assignment volume these days. According to the Sacramento Business Journal, Primeritus Financial Services Inc. has warned California state employment officials that it is permanently closing its office in El Dorado Hills, with a loss of 78 positions.
Last week Primeritus informed the state Employment Development Department that the El Dorado Hills location would close October the 19th as part of a permanent closure. The affected company office is listed at 4950 Hillsdale Circle, El Dorado Hills, CA. This is Primeritus’ second wave of layoffs since last year when they laid off 148 employees in April of 2020 as the result of pandemic closures..
Nashville, Tennessee-based Primeritus entered the Sacramento area in 2012 when it bought M. Davis Co. Inc. in El Dorado Hills, an area just outside of Sacramento. M. Davis Co. worked in repossession management, skip tracing, transport and vehicle sales services through its USA Recovery and Skip Masters.
in 2014, Primeritus bought Repo Remarketing of Citrus Heights, and it moved that firm’s 26 employees to the office it had in El Dorado Hills. The Primeritus acquisition of Repo Remarketing included Find Track Locate, which was Repo Remarketing’s skip tracing unit. Find Track Locate is still a division of Primeritus, and is listed as being based in Tucson, Arizona, on the company website.
Primeritus is a portfolio company of New York-based private equity company Kinderhook Industries LLC, according to both companies’ websites.
Source: Sacramento Business Journal
Primeritus Financial Services announced Monday that it has acquired The M. Davis Co., Inc., which is the California-based company that includes USA Recovery and Skip Masters.
Explaining more about The M. Davis Co., officials noted that the company — located in El Dorado Hills, Calif. — is a full-service firm that offers national repossession management, skip tracing, transport and vehicle remarketing services via the USA Recovery and Skip Masters divisions.
Chief executive officer Matt Davis has taken on a position with Primeritus’ management team as chief operating officer.
“We are excited to welcome Matt and his team into the Primeritus family,” said Chuck Tapp, CEO of Primeritus. “Matt Davis has built a first-rate organization. Both USA Recovery and Skip Masters have earned an outstanding reputation for client service and integrity in the automotive finance community. The combined entities will further enhance the service offerings and options for both our automotive and non-automotive finance clients.”
Davis added, “My team and I are extremely excited to join with Primeritus to build the pre-eminent national indirect repossession management and skip tracing company in the U.S. Based on a foundation of exceptional customer service and performance, the combination with Primeritus puts us on a track to accelerate our growth strategy and goals.”
Cam Hitchcock, chairman of Primeritus, chimed in, noting, “the acquisition of M. Davis Co. is the next step in Primeritus’ strategy to build the leading national recovery services and skip tracing platform for our finance clients. Further, we continue to actively seek additional acquisitions to further broaden our platform and service offering.”
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