FOR IMMEDIATE RELEASE:
JANUARY 6, 2021 – LAS VEGAS NV – KEEPS CORPORATION COMPLETES A MINORITY RECAPITALIZATION THROUGH A SIGNIFICANT EQUITY INVESTMENT FROM SSM PARTNERS
KEEPS Corporation, the provider of North America’s premier automotive service and parts analytics and pricing optimization system, announced today that it has received a significant equity investment from SSM Partners, a Memphis based private equity firm focused on growth companies. KEEPS will use the financing to continue its expansion, accelerate product innovation and invest in additional sales and
marketing resources. The company will continue to evaluate strategic acquisition opportunities, with additional equity capital available from SSM.
“In spite of the challenges created by the Global Pandemic, KEEPS was able to offer its service center customers a compelling value proposition that resulted in 2020 revenue growth of 35% over 2019 with revenues approaching $20M” said Leigh Silver, CEO of KEEPS. “The experience and resources of the team at SSM Partners will perfectly complement our focus on continued product innovation, category-defining leadership, and an engaged Customer Base” added Les Silver, Executive Chairman of KEEPS.
Hunter Witherington, a Managing Partner at SSM, said “We believe that the Service and Parts segments of the Auto Industry represent the major opportunity for both the shops and their suppliers to grow and prosper. We are delighted to partner with the Silver Family who has a phenomenal track record of success in this space.”
With this investment, Hunter Witherington and Ed Nenon from SSM have joined KEEPS Board of Directors.
Further financial terms of this deal were not disclosed.
Portico Capital served as exclusive financial advisor and Jackson Walker LLP served as legal counsel to KEEPS with respect to this transaction.
About KEEPS Corporation:
KEEPS creates solutions that provide industry-exclusive daily actionable data designed to save management time and improve profits for automotive service operations. www.KEEPSCorp.com.
About Dynatron Software:
Dynatron Software is a wholly-owned subsidiary of KEEPS. It is the premier provider of automotive fixed operation data analytics, business intelligence, and pricing optimization. Our solutions provide quantifiable and substantial ROI with the least amount of managerial effort. www.DynatronSoftware.com
About SSM Partners:
SSM invests $8-30 million in rapidly growing companies within software, services, and healthcare. The growth equity firm, which invests nationally and is based in Memphis, Tennessee, has partnered with talented entrepreneurs for more than 20 years. Starting with a relationship built on trust, SSM makes minority and majority equity investments and offers its entrepreneur-partners a thorough understanding of the growth company lifecycle and a collaborative approach to building great businesses. For more information, please visit www.SSMPartners.com.