NEWS RELEASE FOR IMMEDIATE RELEASE
July 19, 2016
Del Mar Recovery Solutions Receives Strategic Investment from TZP Growth Partners
Carlsbad, CA – Del Mar Recovery Solutions (“Del Mar”), a leading provider of a comprehensive range of automotive asset recovery and repossession management services, announced that it has received a strategic investment from TZP Growth Partners I, L.P. (“TZP Growth”), a private equity fund focused on investments in growing business and consumer services companies and part of the TZP Group family of funds.
Founded by Josh Elias in 2011, Del Mar specializes in skiptracing, national repossession management, license plate recognition, and specialty recovery services to leading automotive lenders including banks, credit unions, title lenders, captive lenders, and specialty finance companies. Del Mar generates industry leading recovery rates leveraging highly trained personnel, well defined processes, state of the art technology, a national agent network, and best-in-class compliance.
“Del Mar’s experienced management team, compelling value proposition, and commitment to compliance positions the business for continued growth in the automotive asset recovery sector,” said TZP Growth Partner, Rodney Eshelman. “We are thrilled to partner with Josh Elias and the management team and share their deep commitment to providing customers superior recovery solutions.”
“TZP’s investment accelerates our ability to invest in technology and systems, recruit top-tier talent, and expand the breadth of services we offer to our customers,” said Josh Elias, Founder and CEO. “We are highly impressed with TZP’s commitment to serving as a “Partner of Choice” and maintaining a Code of Values that mirrors and supports the mission and vision of our company. We look forward to a great long term partnership with TZP Growth.”
About Del Mar Recovery Solutions
Del Mar Recovery Solutions is a leading provider of a comprehensive range of automotive asset recovery and repossession management services to leading automotive lenders including banks, credit unions, title lenders, captive lenders, and specialty finance companies. Founded in 2011 and based in Carlsbad, CA, Del Mar specializes in skiptracing, national repossession management, license plate recognition, and specialty recovery services. For more information, please visit www.delmarrecovery.com.
About TZP Group
TZP Group, a private equity firm with assets under management of more than $700 million across its family of funds, is focused on investments in business and consumer services companies. Founded in 2007, TZP targets companies with solid historical profitability and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies where the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.