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Kinetic Advantage Completes Inaugural Securitization

Kinetic Advantage

Kinetic Advantage

Kinetic Advantage, a national provider of floorplan services for independent dealers, completed its inaugural securitization of floorplan receivables.

We are very pleased with this inaugural offering and we anticipate that this will be the first of numerous offerings as we grow Kinetic across our national footprint.”
— Adam Galama
CARMEL, INDIANA, USA, April 15, 2024 /EINPresswire.com/ -- Kinetic Advantage, a national provider of floorplan services for independent dealers, announced today that it completed its inaugural securitization of floorplan receivables on April 12, 2024.

The transaction, led by bookrunners JPMorgan Chase and Apollo Global Management, was sized at $175 million. The bonds, backed by loans to independent dealers, were purchased by institutional investors and have an 18-month tenor.

While Kinetic Advantage is new to securitizations, the Carmel, Indiana company’s Chief Executive, Marty McFarland, has experience in leading such an operation to market. In 2005, McFarland co-founded floorplan lender Dealer Services Corp., which became NextGear Capital after its 2012 sale to Manheim. By then, McFarland already had led DSC’s debut securitization – a $252.3 million offering that priced in 2011.

With this offering, Kinetic Advantage has created a pathway to institutional investors providing the company a diverse and efficient source of growth capital. Adam Galama, Kinetic’s VP of Finance stated, “We are very pleased with this inaugural offering and we anticipate that this will be the first of numerous offerings as we grow Kinetic across our national footprint.”

Kinetic Advantage partnered with Altamont Capital Partners in 2020 to launch a truly independent floorplan company for independent auto dealers and all auto auctions. The company was founded and run by previous leaders of NextGear Capital and Automotive Finance Corporation.

About Kinetic Advantage

Kinetic Advantage is a dynamic independent floorplan company led by trusted industry veterans to provide complete inventory financing solutions to independent dealerships. Our core focus is providing our Independent Dealer customers with complete financing solutions to help them succeed through top-notch service, local support, and a collaborative partnership.

About Altamont Capital Partners

Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $4.0 billion of assets under management. Altamont is focused on investing in middle-market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries, including financial services, multi-unit consumer, industrials, and business services.

Ashley Alspaugh
Kinetic Advantage
+1 (317) 699-5998
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