SBJ Merges ALS Resolvion with TZP’s Del Mar Recovery Solutions to Create Resolvion

SBJ and TZP today announced the merger of their respective portfolio companies, ALS Resolvion and Del Mar Recovery Solutions, creating a combined entity operating as Resolvion. The merged company ranks among the largest automotive collateral recovery solution providers, serving more than 200 customers nationwide, including 40 of the top 50 auto finance lenders. Michael Levison will remain Chief Executive Officer of the combined company, with Josh Elias elevated to President. Both investors rolled their full ownership stakes into the combined entity.

"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," said Michael Levison, Chief Executive Officer.

"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," said Joshua Elias, President.

SBJ invested in ALS Resolvion in July 2018 with consolidation and technology-driven efficiency goals in mind. Since the investment, the company hired Scott Darling as Chief Operating Officer, formerly of Wells Fargo and Capital One, added Tim Russi, former President of Ally Auto Finance, to its board, expanded its customer base and wallet share, and deployed proprietary technology to improve internal operations.

TZP invested in Del Mar Recovery Solutions in June 2016 alongside founder and CEO Josh Elias. Since then, the company has scaled into a leading compliant asset recovery provider, hiring Ren Zamora, former CFO of National Credit Adjusters, and Rod Browning, former CIO of National Credit Adjusters, expanding its customer base, and establishing best-in-class compliance infrastructure.

"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. 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," said Tom Barber, SBJ Co-Founder and Managing Director.

"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," said Rodney Eshelman, TZP Partner.

Resolvion traces its origins to 1996 as a construction and equipment asset recovery business; a 2014 merger with American Lending Services formed ALS Resolvion. The company provides loss mitigation and collateral recovery services, locating vehicles and coordinating a nationwide network of more than 700 third-party recovery partners, for auto finance lenders. Del Mar, founded in 2011 and headquartered in Carlsbad, California, specializes in skiptracing, national repossession management, license plate recognition and specialty recovery services for banks, credit unions, title lenders, captive lenders and specialty finance firms.

SBJ is a private investment firm managing approximately $300 million in committed capital, targeting founder- and family-owned consumer, business services and healthcare companies. TZP Group manages $1.6 billion across its family of funds, focusing on business and consumer services investments since its founding in 2007.