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SBJ Merges ALS Resolvion with TZP's Del Mar Recovery Solutions to Create Resolvion
November 19, 2019
Spanos Barber Jesse & Co. ("SBJ") and TZP Group ("TZP") announced today that they merged SBJ's portfolio company, ALS Resolvion ("ALSR"), with TZP's portfolio company, Del Mar Recovery Solutions ("Del Mar"). The combined company will operate under the name Resolvion and creates one of the largest automotive collateral recovery solutions companies in the industry. Combined, Resolvion serves over 200 customers nationwide, including 40 of the top 50 auto finance lenders. The combined entity will be led by ALSR Chief Executive Officer Michael Levison, who will remain Chief Executive Officer, and Del Mar Chief Executive Officer Josh Elias, who will become President. Both SBJ and TZP rolled all of their ownership in the merger.

"Combining these two companies makes tremendous sense. Both are leaders in the industry, share a similar operating philosophy, and bring strong teams to our client relationships. By combining operations, we are able to invest more in performance improvement and we will be able to take our respective compliance capabilities to new levels while, at the same time, improving operating efficiency," commented Michael Levison.

"Scale has become very important in this industry and the merger with ALSR allows us to offer lenders exciting new capabilities and meet the industry's growing need for operating efficiencies," commented Josh Elias.

SBJ, in partnership with management, invested in ALSR in July 2018 with plans to consolidate the industry and to leverage ALSR's industry leading technology platform to drive efficiencies. Since SBJ's investment, in addition to completing the merger with Del Mar, ALSR has accomplished several key milestones, including hiring Scott Darling as Chief Operating Officer (formerly of Wells Fargo and Capital One) and Tim Russi as a board member (former President of Ally Auto Finance), adding valuable new customers, increasing wallet share with existing customers, and increasing internal efficiencies through the use of its proprietary technology platform.

TZP invested in Del Mar in June of 2016 in partnership with Josh Elias, Del Mar's Founder and CEO. Del Mar quickly scaled to become a leading provider of compliant asset recovery services to automotive lenders nationwide. Since TZP's investment, Del Mar accomplished key milestones, including hiring Ren Zamora (formerly Chief Financial Officer of National Credit Adjusters) and Rod Browning (formerly Chief Information Officer of National Credit Adjusters), adding numerous new customers, and creating a best-in-class compliance program.

"We are very pleased to partner with Del Mar and TZP in creating one of the largest and fastest growing players in the collateral recovery industry," commented Tom Barber, Co-Founder and Managing Director at SBJ. "This merger represents the combination of two great companies with complementary strengths, customers, and management teams. It's an overused phrase, but this merger is truly an example of 1 + 1 equaling 3."

"The ALSR and Del Mar merger creates one of the strongest management teams in the industry with a deep dedication to leveraging best-in-class technology and compliance to deliver industry leading results and efficiency to its clients. With SBJ we look forward to supporting Resolvion to become the gold standard in the industry," commented Rodney Eshelman, Partner of TZP Group.

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