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

San Francisco, CA (July 1, 2008) – 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

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 For more information, visit