AutoManager Acquisition, Inc. announces that it has acquired AutoAp, Inc. AutoAp was founded in 2013 by Mark Paul and will continue to be led by President Mark Allen.
AutoAp helps auto dealers reduce liability, improve compliance, save time and money, increase fixed ops revenue and strengthen customer relationships through a suite of recall services for vehicles. Using advanced-processing, AI-powered technologies and Business Intelligence, AutoAp automates the process of identifying and reporting open safety recalls for every vehicle in an inventory or fleet every day, providing clients with valuable and actionable recommendations related to managing recalls.
“AutoAp’s solutions are a valuable addition to the AutoManager portfolio, and this transaction is another important step in building a market-leading dealership software and services platform,” said James Clippard, chairman of AutoManager and managing director of The Beekman Group, the majority owner of AutoManager. “Open recalls are an important safety and regulatory consideration for sellers and managers of auto inventory, and AutoAp provides impactful solutions that improve driver safety while delivering clear ROI to customers. We congratulate Mark Paul, Mark Allen and the AutoAp team on their strong momentum in the marketplace, and we look forward to expanding AutoAp’s reach throughout the independent auto dealership segment where there is a clear opportunity for better, more convenient tools for managing safety recalls.”
Paul, CEO of AutoAp, added: “Safety recalls continue to be a challenge for the entire auto industry. Vehicles are getting more complex, and OEMs are adding more safety features and technology that increase the likelihood of safety recalls. In 2022 alone, there were more than 900 vehicle safety recalls impacting more than 30 million vehicles. It is virtually impossible for dealers to stay on top of safety recalls for vehicles in their inventory on a timely basis using manual processes and flawed sources.”
He continued, “At any given time, between 20-25% of all vehicles on the road have an open safety recall. Typically, nearly 15% of franchised dealerships’ and 20% of independent dealer inventory has an open safety recall. Rental car companies and fleet open rates are typically even higher. Since launching AutoAp, our recall management technologies have helped boost clients’ revenue and profitability, mitigate liability within the automotive industry, and enhance consumer safety. With the support of AutoManager, AutoAp is poised to play an even more significant role in facilitating the adoption of these important technologies.”
Presidio Technology Advisors acted as sole financial advisor to AutoAp.
