ATLANTA — The formation of Interstate National Corporation, an umbrella holding company to house seven F&I product and service contract brands, was announced this week. INC is a portfolio company of Golden Gate Capital, a San Francisco-based global private equity investment firm with approximately $9 billion of capital under management.
Interstate National Corporation is comprised of Interstate National Dealer Services, National Warranty Corporation/Payment Insured Plan Inc., MBAC, Provida Group, RpmOne and INDS Canada.
“This umbrella company will offer an additional level of strength, stability and tenure plus a full suite of F&I products and services to our valued producers,” said CEO Shaun Fetherston. “Our long-term goal is for this umbrella company to enhance each subsidiary’s level of service, expertise and products.”
Interstate National Dealer Service and INDS Canada are full-service, F&I product providers in the United States and Canada. They target the automotive, RV, banking/financial and sport industries with a full range of products including StarAuto, StarRV, StarSport & AutoGuard.
RpmOne is a provider of service contract products for the sports sector, while National Warranty Corporation provides service contract products to both franchise and independent dealers in the northwest U.S.
Provida Group offers direct-to-consumer service contract products, and MBAC focuses on service contract product sales through banking and financial institution channels.
“Because of recent consolidations of such powerful and solid brands, we want to keep each of their names in the forefront. An umbrella holding company is the best way to collectively bring power, strength and stability to our family of products,” Fetherston said.
