The acquisition will form the basis of the newest member of the FFAM360 Alliance of Companies: IDA Acceptance 360.
02/23/2022 4:15 P.M.
2 minute read
First Financial Asset Management (FFAM360), an ACA International member company based in Peachtree Corners, Georgia, announced this week that it has acquired Independent Dealers Advantage, a family-owned auto finance company that had been in business for approximately 20 years in Suwanee, Georgia, to strategically expand FFAM360’s footprint in the auto finance sector.
This acquisition, along with a much larger acquisition of the assets of an auto finance company out of Kentucky, will form the basis of the newest member of the FFAM360 Alliance of Companies: IDA Acceptance 360.
“This acquisition marks an exciting new chapter for not only the FFAM360 Alliance of Companies but also for hundreds of our clients and potential clients looking to leverage financing options to underserved consumers in the U.S. credit economy,” said president and chief investment officer Matthew Maloney. “IDA Acceptance 360 highlights our eagerness to expand, grow, and build upon our position as leaders in all aspects of the receivable management industry.”
FFAM360 provides comprehensive solutions for business process outsourcing, accounts receivable management, health care revenue cycle management, receivable purchasing and finance, and will now move into the auto financing industry with IDA Acceptance 360.
“We began FFAM360 in 2002 with a clear mission—to deliver revenue-cycle solutions to our clients that optimize their credit and revenue lifecycle through the deployment of our world-class people, operational best-practices, and next-generation technology, all of which are rooted with integrity, business continuity, and compliance,” Maloney said. “As we begin IDA Acceptance 360, we are proud to say that our mission, vision, and core values continue to energize and drive our team every single day.”
As IDA Acceptance 360 begins to take its final shape, there are three key initiatives that will make up its primary objective:
1. Deal directly with dealers.
2. Eliminate boundaries for subprime borrowers.
3. Provide bulk portfolio exit strategies.
“By providing bulk liquidity options for dealers throughout the United States who have a need to generate significant cash flow, we believe our access to capital and the ability to execute transactions efficiently will bring tremendous value to our auto dealer partners and other finance companies,” Maloney said.
With three strategic goals to guide the newly formed IDA Acceptance 360, FFAM360 looks forward to expanding its high-quality services to consumers along with continuing to deliver a wide array of exceptional full-service outsourced solutions for clients.
“The future looks bright based upon the strategic growth initiatives implemented by the executive leadership team at the FFAM360 Alliance of Companies,” Maloney said.
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