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Portico Capital Advises Inventory Command Center on its Sale to J.D. Power

December 15, 2020
New York, NY

Portico Capital is pleased to announce that it served as the exclusive financial adviser to Inventory Command Center (“ICC”) on its sale to J.D. Power, a global leader in data analytics and consumer intelligence. 

ICC is a comprehensive, SaaS-based technology platform that empowers customers across the automotive industry to more effectively deliver the value proposition of automotive inventory to consumers.  The solution provides dealers, OEMs, website developers, and third-party software and data providers with a centralized “source of truth,” including a normalized set of VIN-specific data that includes make, model, trim, year and other critical information.  The business, which is being integrated into the Autodata Solutions division of J.D. Power, is positioned to aggregate the anticipated growth of VIN-specific details driven by more electric vehicles and automated technologies.

“ICC’s technology platform strengthens J.D. Power’s automotive data capabilities, delivering an easy to navigate set of normalized VIN-specific data, which is critical in today’s increasingly complex and data-driven automotive marketplace,” said Eric Denlinger, Partner at Portico Capital. “Combining ICC’s capabilities with J.D. Power’s existing Autodata Solutions will unlock tremendous value for dealers and other end users.”

Kenny DellaPorta, Co-Founder and CEO of ICC said, “The team at Portico worked tirelessly to assist us in every aspect of the sales process to achieve our goals. They leveraged their experience and industry knowledge to guide us through this sales process at the height of COVID related shutdowns. As a true partner despite this unforeseen and unprecedented challenge we achieved our goal! We could not have done this without Portico's guidance and support.”

 

Below are more details from the Company's press release:

Troy, MI. | J.D. Power, a global leader in data analytics and consumer intelligence, today announced the acquisition of Inventory Command Center (ICC), a leading automotive inventory management SaaS-based platform. The business, which is being integrated into the Autodata Solutions division of J.D. Power, is positioned to aggregate the anticipated growth of VIN-specific details brought on by more electric vehicles and automated technologies.

“With more automobile buyers than ever searching local inventories online before they ever set foot in a dealership, accurately and consistently displaying vehicle inventory has taken center stage,” said Dave Habiger, president and CEO of J.D. Power. “Accurate information on vehicle supply has become a critical component of the increasingly complex auto sales ecosystem thanks to the growth of new technologies and powertrains, such as electric vehicles and automated technologies. By combining ICC’s proven inventory management technology with our robust vehicle feature information and valuation tools, we are giving multiple industry stakeholders, including dealerships, manufacturers, third-party websites and consumers the most comprehensive information available on nationwide vehicle supply.”

Evolving digital retailing strategies require dealers to optimally merchandise and differentiate their digital inventory from the competition by utilizing solutions that showcase their inventory to online shoppers within a customer centric experience and then syndicate that experience to all third-party sources from one unified command center platform. The command center platform aggregates, normalizes, transforms and syndicates vehicle data—creating a “source of truth” of vehicle information for dealers, automotive manufacturers, car shopping sites, dealership websites and anyone else who needs to present accurately described and priced inventory. For example, the command center platform specifically merchandises the new automation technologies and powertrains such as battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs).  

“Like the current market of cars and trucks available today, inventory data comes in all shapes, sizes and engine types,” said Craig Jennings, president of the Autodata Solutions division at J.D. Power. “ICC’s team has developed a unique platform that filters innumerable and often inconsistent data sets into a single, robust feed that is easy to consume. The result, combined with J.D Power VIN description and merchandising solutions, is a service that supports dealers and manufacturers with syndicating appropriately branded, described and priced inventory. This will be even more critical with the influx of new EV models, features and technologies.”

“J.D. Power is at the pinnacle of delivering data and insights to the automotive industry,” said Kenny DellaPorta, J.D. Power head of inventory data services and former CEO of ICC. “As a result, car shoppers can more easily find the right vehicle that meets their needs. It’s an honor to join such a strong team and be able to collaborate on solutions that will help drive the industry forward by delivering on the value proposition of complete and precise inventory.”

Vehicle inventory merchandising is a critical aspect of online marketing with more than 56 million new and used vehicles being sold each year. Providing accurate branded descriptions, options and pricing are key to a full and complete online view of a vehicle specifically as it related to digital retailing. The Command Center’s Inventory as a Service platform is already integrated with thousands of dealer inventory feeds and powers numerous third-party car shopping websites. While it aggregates VIN-level data, Inventory as a Service will leverage the ChromeData suite of products, which will properly brand, describe, price and visually merchandise each vehicle. The service is also able to deliver with each exported inventory record incentives and rebates, Chrome Image Gallery photos as well as VIN and model-specific videos.

Portico Capital Securities served as exclusive financial advisor to ICC with respect to this transaction.

The ICC acquisition follows J.D. Power’s recent acquisition of ALG and the merger with Autodata Solutions to create an industry-leading provider of new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry.

 

About J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. For more information, visit www.jdpower.com


 

PORTICO CONTACTS
S. Searcy Dryden, Managing Partner
searcy@porticocapital.com
203.661.7719

Eric Denlinger, Partner
eric@porticocapital.com
203.661.7523