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January 2012

Innovative Aftermarket Systems

The Transaction

On December 22, 2011, CIVC Partners, L.P. (“CIVC”) completed the sale of Innovative Aftermarket Systems (“IAS” or the “Company”) to Genstar Capital, LLC.

The Company

IAS is a premier marketer, administrator, and underwriter of vehicle protection products and related services sold through franchised automobile dealers. Headquartered in Austin, TX, IAS offers a comprehensive portfolio of products and services including anti-theft protection, tire and wheel coverage, guaranteed asset protection, windshield repair and replacement, key replacement, paintless dent repair, and appearance protection. IAS has developed a broad network of over 230 independent agents across 49 states who sell the Company’s products and services through approximately 2,400 franchised automobile dealerships.

Value-Add Approach

In 2007, CIVC identified IAS as a platform investment as a result of its immersion process, which combines proactive research and proprietary origination of investment opportunities, in the automotive warranty sector. CIVC, in partnership with management, acquired IAS outside of an auction process in November 2007. CIVC leveraged its long history in financial services and specific experience with GWC Warranty, a leading provider of extended vehicle service contracts, to facilitate an extensive growth plan. The firm worked closely with senior management to expand into additional distribution channels, rollout new products, develop best-in-class business intelligence tools, further refine the Company’s leading technology capabilities, and drive growth in market share. As a result, IAS’ EBITDA increased over 115% throughout CIVC’s ownership. The successful sale of IAS and strong returns to investors highlight the benefits of CIVC’s proprietary origination process, value-added approach, and specific affinity area expertise.

About CIVC Partners

CIVC Partners is a leading Chicago-based private equity firm with over 40 years of private equity experience. CIVC has completed 50 platform transactions and dozens of add-on acquisitions since 1989 for an aggregate enterprise value that exceeds $5 billion. CIVC currently manages over $1.3 billion in private equity funds and is investing out of a new fund, CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries.

More information on CIVC Partners and its portfolio companies can be found at For opportunities in the automotive F&I sector, please contact Scott Schwartz.

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