CIVC Partners Teams With Management to Acquire Guardian Warranty Corporation & Affiliates
CIVC Partners, L.P. announced that it has teamed with management to complete its acquisition of Guardian Warranty Corporation & Affiliates (“Guardian” or the “Company”), a marketer, administrator and insurer of extended vehicle service contracts headquartered in Avoca, PA. CIVC’s investment will provide additional resources for the continued expansion of the Company, while preserving the superior levels of service that customers have come to expect. Although terms of the transaction were not disclosed, Guardian’s CEO, John Stultz, retained an ownership position in the Company and will continue in his current role.
Guardian markets and administers fully insured extended vehicle service contracts to automobile dealers in over 30 states. Additionally, Guardian provides automobile dealers with other finance & insurance products, including: GAP, glass etch, premium financing, certified vehicle remarketing programs, and floor plan financing. Global International Insurance Company, a wholly owned subsidiary of Guardian, is rated A- (Excellent) by A.M. Best.
“We are very excited about our new relationship with a dynamic partner like CIVC. Since 1995, Guardian has earned the recognition of being ‘Simply the Best’ in the automotive warranty and service contract industry. As we partner with CIVC, and expand with innovative products and services, we will continue to establish benchmarks for quality in the extended service contract industry that will benefit automobile dealers nationwide,” said John Stultz, Chief Executive Officer of Guardian.
Scott Schwartz, a Principal with CIVC, commented, “CIVC is delighted to be partnering with John Stultz and the entire Guardian management team. For over a decade, Guardian has built lasting relationships with thousands of automobile dealers and, under John Stultz’s leadership, has become one of the leading providers of service contracts in its markets. We believe the next several years will bring continued growth and success for Guardian and for its dealer customers.”
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