US Capital Partners, LLC has provided a $3.2 million growth-capital term loan for Naviss, LLC (“Naviss”), which operates in forty-two States.
“Naviss is at a very exciting stage in its growth, with strategic plans to increase the range of services it offers to customers across the United States,” said Clayton Logomasini, newly appointed CEO at Naviss. “We plan to provide our customers with more flexible payment options and additional benefits. Some of these benefits will include free roadside assistance, paint less dent repair, wheel and tire protection, oil change packages, and also GAP, or guaranteed auto protection. We approached US Capital Partners for growth capital to help finance these initiatives, and we are extremely pleased with the result.”
“We are delighted to have structured and provided $3.2 million in growth-capital financing for this expanding nationwide enterprise,” said Jeffrey Sweeney, CEO and Managing Director at US Capital Partners. “We were able to provide this funding by completing an objective third-party analysis and evaluation of the assets of Naviss, the historical financial performance of the business, and the company’s growth potential and ability to overcome the risks related to the warranty industry and to a business focused on direct sales to consumers.”
Naviss is a leading nationwide provider of vehicle service contracts. Its vehicle protection plans safeguard customers from costly repairs, above and beyond manufacturers’ standard auto warranties. The company’s goal is to provide the best available vehicle coverage for customers at affordable prices. To that end, Naviss offers various plans that fit most vehicles and budgets. These protection plans cover the cost of repairs, parts, labor, and sales tax for repairs.
Since 1998, US Capital Partners has been providing prompt, innovative, and reliable financing solutions including lending, equity financing, and debt re-structuring to businesses across the United States and abroad. US Capital Partners is a private investment bank, direct lender, co-lender, and lead financial arranger that specializes in asset-based debt for small to middle market private and public companies.