CHICAGO — The merger of Affinitiv Inc. and Loop LLC, better known to dealers as AutoLoop, is officially complete following the customary regulatory approval process, the companies announced.
The combined company will operate under the Affinitiv brand name and will be headquartered in Chicago. Affinitiv now counts more than 800 employees and revenues of approximately $200 million, supporting over 6,500 dealerships and strategic relationships with 15 OEM partners. New York-based private equity firm CIP Capital will continue as majority owners of the business, all according to the announcement.
Over the next several months, AutoLoop’s suite of software products, including equity mining, scheduling, service lane technology and appraisal tools, will be strategically integrated with Affinitiv’s digital and direct marketing products, executives said.
Affinitiv CEO Scot Eisenfelder will continue in his current role while AutoLoop CEO Steve Anderson will assume the position of executive chairman of the combined entity.
“The combined company will join two leading industry platforms to provide the best data-driven marketing and software solution.”
“I’m excited about this merger, as it allows us to rapidly accelerate the adoption of our best-in-class technology and products across the automotive market,” said Anderson. “In addition, having a considerably larger organization operating at scale will provide our OEM and dealer customers a rich array of solutions with outstanding support.”
“Dealerships need to evolve in order to thrive,” said Eisenfelder. “The combined company will join two leading industry platforms to provide the best data-driven marketing and software solution that will guide dealers through each touchpoint in the customer journey, creating an optimal customer experience while growing dealership revenue.”
Originally posted on Auto Dealer Today