HGGC sells Dealer-FX to Snap-on
HGGC, a middle-market private equity firm, has sold Dealer-FX, a specialist provider of customer experience and process automation software for automotive retailers and OEMs, to Snap-on Incorporated, an S&P 500 company and manufacturer and marketer of tools, equipment, diagnostics and information solutions for professionals in automotive repair and other critical industries.
Since its investment in 2015, HGGC has partnered with Dealer-FX Founder and Chairman Gary Kalk to build the category-defining, SaaS-enabled service lane technology platform endorsed by leading OEMs—including Stellantis/FCA, Nissan, Infiniti, Toyota, Lexus, Hyundai, Kia, Mitsubishi and General Motors. During this time, Dealer-FX significantly scaled its signature One Platform and continues to lead the industry in innovation.
More recently, under the leadership of CEO Bill Lucchini, the Company has launched numerous new product offerings, such as Total Service Marketing, Mobile Payments, Visual MPI and contactless mobile check-in functionality while growing both OEM participation and dealer subscriptions.
“The HGGC team is delighted with Dealer-FX’s progress as it grew to extend its leadership in dealership and OEM service solutions,” says Steve Young, Co-Founder and President of HGGC. “We are confident that Dealer-FX will extend its track-record of innovation and continue to deliver world-class solutions.”
“We’re thrilled with this outcome for Dealer-FX, its employees and customers,” adds Dan Stanko, Partner at HGGC. “The strong customer partnerships, technology upgrades and team additions made during HGGC’s ownership have made a great company even better as Dealer-FX continues to drive innovation and raise the industry standard for automotive service.”
As a result of Dealer-FX’s transformative growth throughout its partnership with HGGC, the company has been recognised as one of Deloitte’s North America Fast 500 during four of the past six years.
“Our partnership with HGGC proved beneficial for our growth prospects, employee culture and technology infrastructure,” says Dealer-FX CEO Bill Lucchini. “I’d like to thank Steve, Dan and the rest of the HGGC team for their support, particularly during a pandemic, in accelerating Dealer-FX’s expansion and enhancing our positioning for long-term success with Snap-on.”
“HGGC has been a great supporter of our mission to improve efficiency, profitability, retention and brand loyalty for OEMs and dealers,” adds Dealer-FX Founder and Chairman Gary Kalk. “We’re now stronger than ever and excited about our future.”