Daily News: December 18, 2013

US Capital Provides Growth-Capital Financing for Naviss

US Capital Partners provided a $3.2 million growth-capital term loan for Naviss.

“We are delighted to have structured and provided $3.2 million in growth-capital financing for this expanding nationwide enterprise,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “We were able to provide this funding by completing an objective third-party analysis and evaluation of the assets of Naviss, the historical financial performance of the business, and the company’s growth potential and ability to overcome the risks related to the warranty industry and to a business focused on direct sales to consumers.”

“Naviss is at a very exciting stage in its growth, with strategic plans to increase the range of services it offers to customers across the United States,” said Clayton Logomasini, newly appointed CEO at Naviss. “We plan to provide our customers with more flexible payment options and additional benefits. Some of these benefits will include free roadside assistance, paint less dent repair, wheel and tire protection, oil change packages, and also GAP, or guaranteed auto protection. We approached US Capital Partners for growth capital to help finance these initiatives, and we are extremely pleased with the result.”

Naviss is a nationwide provider of vehicle service contracts.