Vehlo, which supplies program and economic options for the automobile maintenance field, has ordered Fast Recon and Velocity Automotive.
The acquisition of the two software program vendors extends Vehlo’s fastened ops customer expertise merchandise past the customer-shell out side of the organization.
Its existing preset ops buyer practical experience merchandise contain Dealerlogix, Service Lane eAdvisor and Text2Drive.
Conditions of the offer were not disclosed.
Hugh Hathcock, who also started ELEAD1Just one ahead of marketing it to CDK World-wide in 2018, started Velocity Automotive that very same calendar year. Dennis McGinn, a former Hewlett-Packard govt, founded Rapid Recon in 2010.
“As the industry proceeds to evolve, we have an understanding of the difficulties dealerships come upon in setting up have faith in as a result of transparency with their consumers and the will need to generate profitability in all departments,” Vehlo CEO Michelle Fischer claimed in a information release.
“The addition of Swift Recon and Velocity to our portfolio enables us to connect the service section to its best customer: the pre-owned section. Fast Recon provides the reconditioning alternative that invented the application class, even though Velocity Automotive gives us a electronic merchandising option that connects those people reconditioning investments to the income course of action,” Fischer claimed.
“These businesses also align with our mission to develop a suite of instruments that provide a distinct return on financial commitment for our dealers, with features that their consumers really like, and powered by passionate personnel.”
Hathcock will choose an advisory job with Vehlo, even though McGinn will continue on to head up the day-to-day functions of Speedy Recon.
David Penney will stay CEO of Velocity and will be a part of Vehlo’s dealership divisional leadership group.
“Velocity Automotive is thrilled to be part of Vehlo and its Mounted Ops experience suite, which gives sellers a highly effective mix of solutions as they continue optimizing their service organizations,” Penney explained. “Vehlo lets us to accelerate innovation and our product or service roadmap, and I seem forward to operating with members of the dealership leadership crew to grow the small business.”
McGinn added: “We’re in the incredibly early stages of capitalizing on what is actually probable now that we are portion of the Vehlo portfolio. The chance to convey our folks, items, and activities alongside one another can only convey a lot more benefit to our dealers. And with all the consolidation we’ve seen in current a long time, dealership operations need associates that can aid them be a lot more productive. Which is primarily real in the fixed ops arena.”
Hathcock added: “Vehlo’s mission to renovate the automotive maintenance business carefully aligns with the very same passion that is driven all the things I have finished in this field, which is to shape the long term of automotive retail. Modern announcement arrives at a essential juncture in this good company — when much more is becoming envisioned of service departments. That means specialty methods that only Vehlo can now deliver.”