Vanguard Dealer Services Completes Dividend Recapitalization

GREENWICH, Conn., Oct. 30, 2018 /PRNewswire/ -- Southfield Capital, a growth-oriented lower middle market private equity firm, announced today that it completed a dividend recapitalization of its portfolio company, Vanguard Dealer Services ("Vanguard" or "the Company"). Vanguard partnered with Crescent Capital ("Crescent") to provide the financing. Headquartered in Fairfield, NJ, Vanguard is a leading independent agent, marketer, and administrator of vehicle service contracts.

The recapitalization ensures that the Company is appropriately capitalized to execute on its growth plans. The Company will also be distributing a dividend to shareholders.

Andy Cook, Partner at Southfield Capital, commented "Vanguard has experienced tremendous growth over the last couple of years, more than tripling since the time of our investment three years ago. The management team has executed on our initial growth strategy and we are excited to partner with Crescent to capitalize the business for the next stage of growth."

"Vanguard has grown due to its relentless pursuit of driving dealer, administrator, and OEM profitability," said Jim Polley, CEO of Vanguard. "We will continue to invest in our systems, processes, and people to ensure that we remain the best-in-class F&I product and training provider in the industry."

Finn Dixon & Herling provided legal counsel to Southfield Capital.

About Southfield Capital Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 - 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies. For more information, please visit www.southfieldcapital.com.

Our Team  Andy Levison, Managing Partner Andy Cook, Partner Heb James, Partner  Tim Lewis, Partner Brandon Pinderhughes, Vice President Chris Grambling, Vice President Joshua Sylvan, Associate Jon Goldstein, Chief Financial Officer

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SOURCE Southfield Capital