Press Release

Monday, May 20, 2013 Nashville, TN – After a year of multiple acquisitions, Primeritus Financial Services, a leader in recovery management, skip tracing and remarketing services, announces the rebranding of several of their business service segments. “Since the acquisitions of USA Recovery and Renovo over the past year, Primeritus has worked with customers and clients to better align their services with the overall strategy of the company. This rebranding is the next step in Primeritus’ evolution and growth in the recovery services, remarketing and skip tracing industries,” said Chuck Tapp, CEO of Primeritus Financial Services. Primeritus Recovery is the trade name assigned to front-end repossession placements.  Servicing auto finance clients via a network of repossession firms and agents across the country, Primeritus is able to centralize, standardize and better manage the repossession process for our clients. Furthermore, “we have made a strategic decision to reduce Primeritus’ involvement in the direct … Continued

Thursday, February 21, 2013 Los Angeles, California – Westlake Financial Services, a full spectrum auto finance company, and Primeritus Financial Services announced their collaborative partnership today. Primeritus provides recovery management and skip tracing services to the automotive industry. Primeritus will assist Westlake with skip-to-locate services for Westlake’s post charge-off collateral accounts. “Primeritus has a solid reputation in the industry by helping companies improve their collection services,” says Ian Anderson, President of Westlake Financial Services. “Westlake is proud to bring on a partner that will help us improve our portfolio by lowering losses and increasing our recovery.” “Westlake and Primeritus share a common vision; to deliver best-in-class service, technology and results for our clients,” says Joe Mappes, Executive Vice President of Primeritus Financial Services. “By utilizing Primeritus SkipMasters, Westlake Financial will reduce their charge-off ratio, increase overall compliance measurements and mitigate losses across their entire portfolio. We are proud Westlake Financial … Continued

Wednesday, October 17, 2012 Nashville, TN – Primeritus Financial Services, a leader in recovery management and skip tracing services, today announced their acquisition of Renovo Services LLC. In passing the torch to Primeritus, Kevin Flynn, former Chairman and CEO of Renovo Services commented, “I’d like to thank the whole team of employees for all they have done to make Renovo Services an industry leader. I would also like to thank the Renovo Services customers for their business and their trust. I believe the combination with the team at Primeritus is a true win for Renovo employees and its customers.” “The completion of this acquisition represents another major step in Primeritus’ evolution and growth in the recovery services and skip tracing industry,” said Cam Hitchcock, Executive Chairman of Primeritus Financial Services. “Primeritus and Renovo will be a great combined entity. By combining our complementary technologies, deep industry expertise, sales channels and … Continued

Monday, June 18, 2012 Nashville, TN and El Dorado Hills, CA – Primeritus Financial Services, Inc., announces their acquisition of The M. Davis Company, Inc. “We are excited to welcome Matt and his team into the Primeritus family,” remarked 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.” Based in El Dorado Hills, CA, The M. Davis Co. is a full service, national provider of repossession management, skip tracing, transport and vehicle remarketing services through its USA Recovery and Skip Masters divisions. Matt Davis, CEO of the M. Davis Co., has partnered with Primeritus’ management team in an operational and executive leadership position as Chief Operating Officer. … Continued

February 27, 2012 Clinton, MS – Chuck Tapp, Phil Hanks and Cam Hitchcock (“Management”) have partnered with a New York based private equity firm to acquire the assets of ASR Nationwide and recapitalize the company for growth.  Management has rebranded the company Primeritus Financial Services, Inc. (“Primeritus”) and will look to leverage their 45+ years of collective industry experience and strong client relationships in the automotive finance industry to pursue an aggressive growth strategy. Chuck Tapp was most recently Vice President at Openlane, Inc., which was acquired by ADESA Inc. in August 2011 and will serve as the Chief Executive Officer of Primeritus.  Prior to Openlane, Chuck held a number of executive positions at leading automotive service providers and financial institutions, which included responsibilities over sales, marketing, operations and remarketing.   Phil Hanks, a long-tenured executive at Manheim that most recently served as Vice President of Renovo Services, LLC upon Renovo’s … Continued