Additions to Senior Leadership Team and Riverland Technologies Acquisition
FOR IMMEDIATE RELEASE:
Indianapolis, IN (September 2, 2021). Location Services, LLC announces today that they have made several strategic business decisions and hires to better position themselves in the marketplace. After battling through the pandemic, the Company has made the decision to exit the direct recovery space and focus on building its existing forwarding model, which includes recovery, skip, remarketing, transport, keys and titles. The Company also announced several key hires including John Nethery, CFO and President of insightLPR, Dimple Patel, VP of Finance and Accounting, and Mike Suarez, SVP of Operations. The senior team has worked together for many years at some of the industry’s premier organizations. The corporate headquarters has moved to Indianapolis, IN, where many of the key leaders are located.
“We are exiting the direct model for now,” said Jerry Kroshus, CEO of Location Services, LLC. “We are retaining our licenses where it makes sense to keep them. Also, some of our legacy owners will be purchasing parts of their business from us and we’ll continue to have a strategic relationship with them as they will continue to run insightLPR cameras and utilize our RepoRoute recovery software.” Kroshus added.
“We already have a robust network of recovery agents, as a good portion of our existing volume, approximately 50%, is forwarded. Having industry veterans such as Mohit Mahajan, Mike Suarez and Debbie Stokes overseeing the day to day operations is a key component to our success. Being headquartered in Indianapolis is also a huge plus as the talent pool is very strong here,” said Chief Client and Operations Officer Jose Delgado.
The Company also shared that the LPR division, insightLPR, made a strategic acquisition last week of Riverland Technologies out of Jackson, MS. Riverland has an excellent reputation in the LPR space and partners with cities, police forces and municipalities across the country, providing cutting edge LPR camera technology and integrated software solutions. Riverland has been in business for over 15 years.
In addition to Nethery’ s CFO responsibilities for both Location Services and insightLPR, he will serve as President of insightLPR. Nethery spent more than nine years at DRN, from 2010 to 2019, as CFO and COO, while Patel worked at DRN as VP of Finance / Controller from 2010 to 2017.
“We have big plans for insightLPR, and we are confident that with John’s leadership and background, along with the demonstrated strength and experience of Riverland Technologies, we will build insightLPR into a very formidable option for our clients,” said Kroshus. “This is the other reason we exited the direct recovery model. We want to remain agnostic in the auto finance scanning space.”
“I am very excited to join Location Services and to lead the insightLPR division, Nethery added. “We are working on a great plan to provide excellent service options for the recovery, auto finance, law enforcement and commercial industries. We have a terrific team in place and have the full support of our parent company, Delaware Street Capital (DSC), to help us achieve top performance for our clients’ initiatives.”
David Heller, partner at DSC, concluded, “We are committed to the forwarding and LPR models and we are confident that this pivot is the right decision. Jerry has assembled a seasoned team of top industry talent. We are eager to compete and produce great results for our clients. “
About Location Services
Location Services, LLC is a recovery management and loss mitigation service company providing solutions for skip locate, collateral recovery, transportation and remarketing. Location Services is owned by Delaware Street Capital (DSC), a Bluhm family investment vehicle, providing significant financial strength and backing to Location Services. For additional information about Location Services, visit location-services.com.
About insightLPR
insightLPR is an innovative technology company that manufactures, sells and supports rapidly deployable, innovative camera solutions to aid in collateral recovery, law enforcement, public safety and commerce. insightLPR combines the best and latest technologies for cameras, vision intelligence and information technologies to create solutions for license plate recognition, vehicle make/model/color identification, and a variety of additional evolving applications. For additional information about insightLPR, visit insightLPR.com.
CONTACT:
Michele Connell
VP of Client Relations
714-227-7450
Michele.Connell@location-services.com
8900 Keystone Crossing, Ste 620 » Indianapolis, IN 46240 » location- services.com » insightLPR.com
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