Golden Gate Capital Announces Recapitalization of National Warranty Corporation & Payment Insured Plan, Inc.

SAN FRANCISCO–(EMWNews)–Golden Gate Capital, a San Francisco based private equity firm,

announced today the recapitalization of National Warranty Corporation,

Payment Insured Plan, Inc. and their affiliates (collectively “NWC”

or the “Company”) in

conjunction with NWC’s existing shareholders.

Golden Gate Capital’s strategic investment

will provide additional capital and resources to support the continued

expansion of the business, while preserving the superior levels of

service customers have come to expect. Financial terms of the

transaction were not disclosed.

“Golden Gate brings a significant amount of

industry experience and expertise to NWC,”

said Denny McNally, CEO of NWC. “We believe

that Golden Gate Capital’s investment will

help us accelerate our growth initiatives and provide solid financial

backing for our dealers and customers.”

NWC, headquartered in Eugene, Oregon, is a premier full service provider

of F&I products for new and used motor vehicles. Founded over forty

years ago, NWC boasts a network of more than 250 customers, and focuses

on maximizing dealer productivity while simultaneously managing risk

exposure.

“NWC’s management

team has built a tremendous reputation in the industry, and the Company

is very well positioned to take advantage of new opportunities in the

market,” said Ken Diekroeger, Managing

Director at Golden Gate Capital. “NWC’s

relationships with its dealers and customers, as well as its proven

ability to expand its product offerings, will serve as a strong

foundation from which to expand.”

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment

firm with over $9.0 billion of capital under management dedicated to

investing in change-intensive opportunities. The firm’s charter is to

partner with world-class management teams to make equity investments in

situations where there is a demonstrable opportunity to significantly

enhance a company’s value. For more information, visit www.goldengatecap.com.

About National Warranty Corporation & Payment Insured Plan, Inc.

Founded in 1965, National Warranty Corporation / Payment Insured Plan,

Inc. is a leading full service provider of F&I products for new and used

motor vehicles. With over 250 dealer-customers, NWC provides F&I

consulting services and products designed to maximize dealer

profitability and control risk management. NWC is headquartered in

Eugene, Oregon. For more information, please visit www.nwc-pipi.biz.

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