Primeritus Financial Services
Primeritus Financial Services is a Nashville-based outsourced recovery, skip tracing, and remarketing platform serving US auto finance lenders via its IBEAM SaaS platform and a national network of 1,000+ certified repossession agents, backed by Kinderhook Industries.
- Company typePrivate
- Founded2012
- HeadquartersNashville, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Primeritus Financial Services does
Primeritus Financial Services, Inc., founded in 2012 and headquartered in Nashville, Tennessee, is an outsourced recovery management, skip tracing, and remarketing platform serving the US auto finance industry. The company operates a 'trifecta' of repossession management, investigative skip tracing, and remarketing services for banks, credit unions, and captive auto finance arms, with secondary exposure to subprime lenders, powersports finance, and insurance recovery. Its core technology is IBEAM (Internet Based Electronic Asset Management), a multi-tenant SaaS platform acquired in 2019 with Consolidated Asset Recovery Systems and led by Chief Product & Technology Officer Jim Wilmsen, who holds 20 technology patents. IBEAM provides web-based case management with graphical workflows, automated agent assignment against a network of 1,000+ certified repossession agents across all 50 states, RDN integration, multi-source data validation, a multi-forwarder Global Marketplace module, and integrations with major collection systems (Shaw & Associates) and remarketing platforms (AutoIMS, Manheim, Copart, Fiserv, Remarketing Edge, Asset Nation).
Revenue is generated through a mix of subscription-based flat-fee repossession management (billed annually with national coverage including Alaska and Hawaii), subscription skip tracing services, and transaction-fee remarketing services. Distribution combines direct enterprise field sales targeting large captive and non-prime auto lenders with a channel model that onboards independent certified agents and partnerships with NAAA, Copart, and Manheim auction houses. The company is privately held by Kinderhook Industries and has executed seven acquisitions since inception (USA Recovery/Skip Masters, Renovo, Repo Remarketing, Roquemore, Global Investigative Services, Capital Recovery Group/Find Track Locate, and CARS), with its most recent leadership transition placing Jennifer Turnage as CEO and Steve Norwood as Executive Chairman in February 2024 following a 2022-2023 restructuring. Notable enterprise customers include USAA, Ally Financial, Toyota Financial Services, American Honda Finance, Westlake Financial, Exeter Finance, and SNAAC, and the platform has logged 500,000+ repossession assignments and SOC 2 Type II attestation under SSAE 18.
Primeritus Financial Services firmographics
Firmographics- Name
- Primeritus Financial Services
- Legal name
- Primeritus Financial Services, Inc.
- Website
- https://primeritus.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Primeritus Financial Services is a Nashville-based outsourced recovery, skip tracing, and remarketing platform serving US auto finance lenders via its IBEAM SaaS platform and a national network of 1,000+ certified repossession agents, backed by Kinderhook Industries.
- Ownership category
- akta.pro rank
Primeritus Financial Services industry classification
Industry- Product category
- Auto Repossession and Remarketing Services
- NAICS
- Repossession Services (561491), Collection Agencies (56144)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320), Services-Prepackaged Software (7372)
- akta.pro primary industry
- Debt Recovery & Asset Recovery (Repossession Coordination, Collateral Recovery) (BPAAAEAE)
- akta.pro secondary industry
- Collections, Recovery & Debt Management Platforms (FSAGAHAI)
Keywords
Where Primeritus Financial Services is headquartered
LocationHeadquarters
- HQ city
- Nashville
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Primeritus Financial Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Repossession Management Services: Outsourced repossession management services for auto finance lenders. The company acts as an intermediary between lenders and repossession agents, providing flat-fee pricing to standardize recovery costs and allow for accurate modeling.
- Skip Tracing Services: Stand-alone locate services or add-on services for accounts being serviced through the repossession management group. Leverages investigative research and online profiling to identify locations of customers and collateral.
- Remarketing Services: Centralized outsourced remarketing solution including cost-effective reconditioning, optimal presentation and marketing, premium lane placement, sale and post-sale analytics, and auction representation.
- IBEAM Software Platform: SaaS delivery model providing real-time data access without software installation. Enables lenders to manage repossession agents directly or through multiple forwarders.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Flat-fee pricing for national repossession management including Alaska and Hawaii |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Primeritus Financial Services product offering
Product offeringCore offering
Primeritus Financial Services provides outsourced repossession management, skip tracing, and remarketing services to auto finance lenders, banks, credit unions, and powersports lenders. The company acts as an intermediary between lenders and a national network of independent, certified repossession agents, managing the full collateral recovery lifecycle from skip tracing and recovery through to final sale at auction. Service delivery is enabled by the proprietary IBEAM (Internet Based Electronic Asset Management) SaaS platform, which provides end-to-end case management, real-time visibility, and integrations with client collection and remarketing systems.
Product overview
Primeritus Financial Services operates as a unified platform-plus-services organization built around IBEAM (Internet Based Electronic Asset Management), the industry's first SaaS platform for asset recovery management. The core offering combines three main services—Repossession Management, Skip Tracing, and Remarketing—delivered through IBEAM's web-based workflows. Additional modules include Global Marketplace for multi-forwarder management, Repo Forwarding for agent coordination, and Portfolio Management for credit union monitoring. Former acquired brands (Roquemore, Global Investigative Services, Find Track Locate, Consolidated Asset Recovery Systems) have been consolidated under the unified IBEAM platform.
Differentiator
Problem solved
Functional benefit
Brands
- IBEAM: Internet Based Electronic Asset Management - industry-first SaaS platform for lenders to manage repossessions and remarketing end-to-end.
Products and services
- IBEAM (Internet Based Electronic Asset Management) Web-based SaaS platform using graphical workflows to manage cases end-to-end from recovery to final disposition, enabling real-time updates, document management, messaging, and configurable notifications for auto finance lenders managing repossession and remarketing operations.
- Repossession Management Outsourced repossession management service for auto finance lenders, centralizing and managing the repossession process by leveraging a national network of certified repossession firms to ensure collateral is recovered efficiently.
- Skip Tracing In-depth investigative research and online profiling service that identifies the location of customers and collateral that have become hard to find through traditional methods, for auto finance lenders and other financial institutions.
- Remarketing Centralized outsourced remarketing solution that manages the entire disposition process for recovered collateral using industry experts, reconditioning, optimal presentation, premium lane placement, sale and post-sale analytics, and auction representation.
- Global Marketplace IBEAM feature module enabling multiple forwarders to use the platform with separate views so each forwarder only has visibility to their specific assignments; data is firewalled and isolated with necessary security controls.
- Repo Forwarding Coordination of peaceful recoveries with vetted, licensed, and compliant agents, including real-time RDN integration and an Auto Assign/Escalation program that seamlessly transitions from repossession to full skip trace when collateral is not at the provided address.
- Portfolio Management IBEAM-based portfolio monitoring service with extensive workflow process showing each step, with data validated against multiple databases to ensure accurate information on each account.
- Pre-Sale Certification Program Certification program for qualifying assets that provides additional security to buying dealers, increasing asset value during the remarketing process.
Quantifiable outcome
- 40-60% savings over traditional paper-based processes
- +2 more outcomes
Companies that use Primeritus Financial Services
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
Primeritus Financial Services technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability7 records
Feature10 records
Primeritus Financial Services partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core.
- SNAAC (Security National Automotive Acceptance Company)coreSNAAC, a non-prime auto finance company, partnered with Primeritus for full-suite remarketing services. Partnership aims to improve portfolio results, lower overall days to sell, manage cost, and achieve premium lane placement through Primeritus' proprietary technology.
- Westlake Financial ServicescoreFull spectrum auto finance company partnered with Primeritus for skip-to-locate services for post charge-off collateral accounts. Partnership designed to reduce charge-off ratio and increase compliance measurements.
- Shaw & AssociatescoreCollection system integration enabling lenders to load assignments directly from Shaw & Associates collection systems with data transferred one-way or two-way.
- AutoIMScoreTwo-way remarketing integration expediting the remarketing process and enabling assets to be pre-marketed in online auctions or sold at physical brick-and-mortar auctions.
- ManheimcoreTwo-way remarketing integration providing access to Manheim auction platform and services for physical and online vehicle sales.
- CopartcoreTwo-way remarketing integration with Copart for online auction services and vehicle remarketing.
- FiservcoreTwo-way remarketing integration with Fiserv for automotive finance and remarketing operations.
- Remarketing EdgecoreTwo-way remarketing integration providing online auction and remarketing platform services.
- Asset NationcoreTwo-way remarketing integration for online auction and asset disposition services.
- iRepocorePeer-to-peer gateway integration enabling IBEAM to load assignments from iRepo platform, facilitating transition strategy for lenders migrating to Primeritus platform.
- RDN (Recovery Data Network)corePeer-to-peer gateway integration with RDN for real-time assignment loading and case management. Real-time RDN integration always made public.
- Insight (License Plate Recognition)coreLicense Plate Recognition service integration providing ALPR data for vehicle location and recovery services.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Primeritus Financial Services competitors and assessment
Company assessmentEmerging players
- Spireon: Spireon provides connected vehicle and asset intelligence solutions including GPS tracking and recovery solutions for auto finance and dealership markets. It complements and partially substitutes for traditional skip tracing and recovery services like Primeritus's.
- PassTime GPS: PassTime provides GPS-based asset tracking and location devices for subprime auto lenders, enabling self-recovery and skip tracing before physical repossession is needed. It represents a partial substitute for Primeritus's skip tracing and recovery services by shifting activity upstream.
Others
- iRepo: iRepo is a peer-to-peer repossession assignment network that connects lenders, forwarders, and agents, similar in function to RDN. It is integrated with IBEAM as a transition gateway for lenders migrating onto Primeritus's platform.
- RDN (Recovery Data Network): RDN operates the dominant peer-to-peer gateway for repossession assignment forwarding among lenders, agents, and forwarders. It is integrated with IBEAM and serves as industry infrastructure rather than a direct competitor, but controls critical assignment flow data that influences Primeritus's routing economics.
Broad incumbents
- Copart: Copart operates the largest online vehicle auction platform and provides comprehensive remarketing services directly to lenders, insurers, and dealers. It is a key integration partner for Primeritus IBEAM and competes indirectly for remarketing volumes on recovered collateral.
- Dealertrack (Cox Automotive): Dealertrack, part of Cox Automotive, provides dealer management, lending, and collateral management technology widely used by auto finance lenders. As lenders consolidate technology stacks, Dealertrack could absorb or compete with portions of the IBEAM workflow.
- Manheim (Cox Automotive): Manheim is the largest US wholesale vehicle auction operator under Cox Automotive, providing remarketing, inspection, and dealer services. It is integrated with Primeritus IBEAM but competes for remarketing assignments from the same lender client base.
- KAR Auction Services / OPENLANE: KAR Auction Services (now operating OPENLANE digital auction platform) provides wholesale vehicle remarketing, salvage auctions, and dealer financing solutions. Comparable in serving lenders on the disposition side of the recovery workflow that Primeritus manages.
- IAA (Insurance Auto Auctions / RB Global): IAA, now part of RB Global, is a leading salvage and total-loss vehicle auction operator serving insurance carriers and fleets. Adjacent rather than directly competing, but increasingly intersecting with auto finance recovery as lenders remarket recovered collateral through IAA channels.
Direct peers
- AutoIMS: AutoIMS provides remarketing management software for the auto finance industry, enabling lenders to manage vehicle sale and disposition workflows. It is a core IBEAM integration partner and competes for technology spend on the remarketing side of the recovery stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Primeritus Financial Services social profiles
Digital presencePrimeritus Financial Services compliance and trust
Trust signalCompliance1 record
Primeritus Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Primeritus Financial Services leadership team
Management profileNumber of profiles
Profiles5 records
Primeritus Financial Services subsidiaries and ownership
Company hierarchySubsidiaries6 records
Primeritus Financial Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Primeritus Financial Services M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Primeritus Financial Services
What does Primeritus Financial Services do?
Primeritus Financial Services provides outsourced repossession management, skip tracing, and remarketing services to auto finance lenders, banks, credit unions, and powersports lenders. The company acts as an intermediary between lenders and a national network of independent, certified repossession agents, managing the full collateral recovery lifecycle from skip tracing and recovery through to final sale at auction. Service delivery is enabled by the proprietary IBEAM (Internet Based Electronic Asset Management) SaaS platform, which provides end-to-end case management, real-time visibility, and integrations with client collection and remarketing systems.
Is Primeritus Financial Services a public or private company?
Primeritus Financial Services is a private company. It is classified as private equity controlled and is currently operating.
When was Primeritus Financial Services founded?
Primeritus Financial Services was founded in 2012. It employs 251 to 500 people.
Where is Primeritus Financial Services based?
Primeritus Financial Services is headquartered in Nashville, United States, in the North America region.
How does Primeritus Financial Services make money?
Four revenue lines are on record. Repossession Management Services are the primary driver. The others are skip Tracing Services, remarketing Services and IBEAM Software Platform.
Who are Primeritus Financial Services's main competitors?
Emerging players on record are Spireon and PassTime GPS. Others are iRepo and RDN (Recovery Data Network). Broad incumbents are Copart, Dealertrack (Cox Automotive), Manheim (Cox Automotive), KAR Auction Services / OPENLANE and IAA (Insurance Auto Auctions / RB Global). AutoIMS is listed as a direct peer.
Does Primeritus Financial Services have an API?
Yes. IBEAM platform supports multiple data transfer technologies including flat file, secure FTP, SOAP and REST based APIs for data sharing with third-party systems. The platform enables collection system integrations (one-way or two-way), remarketing integrations, and peer-to-peer gateway integrations for loading assignments from external systems.
What industry is Primeritus Financial Services in?
Primeritus Financial Services's product category is Auto Repossession and Remarketing Services. Its primary akta.pro industry code is BPAAAEAE, Debt Recovery & Asset Recovery (Repossession Coordination, Collateral Recovery), with a secondary code of FSAGAHAI, Collections, Recovery & Debt Management Platforms. Its NAICS code is 561491 and its SIC code is 7320.