LAS VEGAS — Auto Dealer Monthly reported in a Monday blog post that Western Funding Inc., an independent finance company since its founding nearly 50 years ago, was sold to the former operators of SeaWest Financial Corp. The sale was reportedly completed on Oct. 15.
The family-owned and -operated firm was headed by CEO Dwight Cope, whose parents founded Western Funding in 1962. Cope could not be reached for comment as of press time.
The acquiring party appears to be Frederick Cooper, a co-founder of Las Vegas-based SeaWest Financial Corp. Cooper was president of SeaWest from 1995 until 2004, then managing partner at Columbus, Ohio-based Harbor Auto Finance LLC.
According to Cooper's LinkedIn profile, he has assumed the title of president and CEO of Western Funding. Cooper also could not be reached for comment as of press time.