Stellantis lays the foundations for the growth of a financial branch: the acquisition of First Investors is closed
Stellantis has completed the acquisition of F1 Holdings Corp, parent company of First Investors Financial Services Group, by a group of investors led by Gallatin Point Capital, as announced on September 1, 2021. As noted in a note, First Investors, which has been renamed Stellantis Financial Services Us Corp, it will lay the foundations for the growth of a financial branch controlled by Stellantis with an offer of complete services.
Particularly, Stellantis Financial Services will offer US customers, dealers and partners a full range of financing options in the short to medium term, such as retail loans, leasing solutions and network financing. “With the acquisition of First Investors, we will rapidly develop a captive financial arm in the United States, offering a full range of products, for the benefit of our clients., our dealers, our brands and our shareholders, “he said Philippe De Rovira, chief affiliates officer for sales finance, used cars, parts and service and retail network.
“The acquisition of First Investors supports Stellantis’ business growth plan in the United States”, he has declared Richard Palmer, chief financial officer of Stellantis, explaining that “this is an important strategic move to further improve our financial performance and create long-term value for Stellantis shareholders.” “Improving the customer experience is at the heart of our mission”, he added Tommy A. Moore Jr, CEO of Stellantis Financial Services Us Corp. “Moving forward, we will leverage strong commercial activity in the United States to provide financing to the full range of customers, as we look to innovative growth strategies, including mobility services, to expand our portfolio beyond traditional vehicle sales“, he concluded. The executive management team, active on average for 18 years in the financial sector, is expected to continue in their current position.
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