Protective Life Corporation (Protective), a wholly owned US subsidiary of Dai-ichi Life Holdings, Inc., has entered into an agreement to acquire the Revolos family of companies.
Headquartered in Atlanta, Georgia, Revolos is a Finance & Insurance (F&I) solutions provider.
Protective Asset Protection has been providing F&I solutions to the automotive industry for over 55 years.
Its programs include extended service contracts, guaranteed asset protection (GAP) and ancillary products to protect consumers’ investments in automobiles, recreational vehicles, watercraft and powersports vehicles.
“Protective’s Asset Protection Division is an important—and growing—part of our business,” said Rich Bielen, President & CEO, Protective.
“As we continue to navigate the uncertain situation posed by COVID-19, we remain focused on serving more customers. This transaction aligns well with our plans to build on our strong foundation and protect more people in the future by growing both organically and through acquisitions.”
“Protective is a well-known, respected and leading provider of finance and insurance (F&I) solutions to the markets we serve,” added Rich Holland, CEO, Revolos.
“Becoming part of the Protective family is an exciting step on our company’s journey, and we look forward to the benefits this opportunity will provide our team members, partners and customers.”
Scott Karchunas, President, Protective Asset Protection, also commented: “Revolos has built a strong organization with a focus on meeting the needs of agents, dealers and financial institutions.”
“We are excited about the opportunity to grow market share and protect more customers by adding Revolos’ complementary product portfolio and distribution channels to our current business lines.”
Once closed, this transaction will represent Protective’s 58th acquisition, and the fifth since it became part of Dai-ichi Holdings in 2015.
Maynard, Cooper & Gale, P.C. acted as external legal counsel for Protective in this transaction.
Additionally, Reed Smith LLP acted as external legal counsel for Revolos, and Houlihan Lokey acted as its Financial Advisor.
