IDS and White Clarke Group join forces to create a Secured Finance technology powerhouse
Market-leading companies combine to form a unified global source for automotive, equipment and working capital financing software solutions serving a $7Tn secured finance end market.
IDS, a leader in enterprise mission-critical solutions for secured finance, has agreed to acquire White Clarke Group, a leading provider of retail, fleet, wholesale and asset finance solutions for the automotive and equipment finance markets.
The two companies combine to create a multi-asset class secured finance technology powerhouse supporting banks, independents, OEM captives and specialty finance firms globally.
Together, the combined company will serve more than 300 customers across North America, Europe and the Asia Pacific and will be co-headquartered in Minneapolis, MN and Milton Keynes, U.K.
IDS and White Clarke Group together provide a comprehensive portfolio of products across multiple market segments including:
Automotive Finance (Retail, Fleet, and Wholesale) – CALMS is a full lifecycle system including point-of-sale, loan origination, loan servicing, and floorplanning capabilities serving 8 of the top 10 auto manufacturers representing 25 brands.
Equipment / Asset Finance – an end-to-end platform for leasing and loan origination and portfolio management with more than $350bn of net asset value running on the solution.
Working Capital – (Asset-based lending and Factoring) – a comprehensive solution providing the ability to manage flexible working capital finance offerings with real-time credit monitoring and availability. Managing c.$50bn in factoring volume annually.
IDS is acquiring White Clarke Group from Five Arrows Principal Investments, who originally invested in the business in 2016 and will remain a shareholder in the combined company.
The transaction is expected to close before the end of Q2 2021. For more details on the acquisition or for any enquiries please click on read more.