FOR IMMEDIATE RELEASE
Lombard, IL and Richardson, TX (February 11, 2019) — F&I Administration Solutions, LLC (F&I Admin) and StoneEagle, Inc., together the leading suppliers of technology solutions for the F&I industry, today announced the strategic merger of the two companies to form StoneEagle F&I.
The new company will bring together the most powerful solutions in the industry across the entire F&I ecosystem to complement and enhance the services offered to both F&I Admin and StoneEagle customers. Together, the companies manage over 8 million transactions per year for 85 F&I product administrators, power technology for a network of more than 10,000 dealerships, offer profitability reporting and intelligence tools for over 5,000 dealerships, and provide detailed responses to over 140,000 product rate requests per day.
“This is a rare opportunity for two organizations that occupy uniquely complementary positions in the market,” said David Trinder, CEO of F&I Admin. “In coming together, we provide even stronger value for our clients. StoneEagle’s commitment to providing exceptional customer service and powerful products aligns closely with our own. I am extremely pleased to be able to welcome two extraordinary teams into a single family.”
“We have set out to combine two of the most well-established companies in the industry,” said Cindy Allen, CEO of StoneEagle. “Bringing together these two exceptional teams will drive enhancements and innovation across all our products and fuel the evolution of future solutions. Our merger is about growth – we are dedicated to bringing more options to our clients without disrupting their existing experience and solutions. Together we will bring forward the best of both companies to benefit the clients we serve.”
Headquarters and Management
Both companies have highly experienced teams with proven leadership. Cindy Allen will serve as chief executive officer of the combined company, which will be headquartered in Richardson, TX. Kumar Kathinokkula will take on the position of chief operating officer of the new company and will operate out of the company’s Lombard, IL location. StoneEagle founder, Brent Allen and F&I Admin CEO, David Trinder, will both be board members and play active roles in the company.
StoneEagle F&I will continue to operate all existing locations, in order to ensure that all clients continue to enjoy a first-rate experience both during and after the merger.
About F&I Administration Solutions
F&I Administration Solutions, LLC is the leading provider of software solutions for the administration of automotive F&I products. Our comprehensive and integrated F&I platform addresses the specific needs of every role within the lifecycle of an F&I product. As an innovative organization, we strive to provide the most advanced, efficient, and intuitive technological solutions within the automotive F&I industry to support the growth of our clients and to address their ever-changing business needs. Additional information can be found at www.fiadmin.com.