Headquartered in Virginia Beach, VA, Coastal Credit was founded in 1987 by Bill McKnight with the goal of extending auto financing to sub-prime borrowers, particularly in the military market. Military lending requires intimate knowledge of customer credit characteristics and strong, long-term relationships with dealerships, both of which have been solidified over 25+ years of doing business. By leveraging its successful track record and industry-leading underwriting capabilities, the Coastal team expanded its geographic footprint and began serving the broader civilian market. Today, the Company enjoys a leading presence in both military and civilian dealerships, and operates across 27 U.S. states through 14 branch locations.Brian P. Golson, Managing Partner at Parthenon, said, “This transaction is the culmination of a multi-year search for the right partnership in the sub-prime auto finance sector. In partnership with Parthenon, we believe the Coastal team—both organically and through acquisitions—can extend its national reach and continue its impressive growth, while maintaining its industry-leading underwriting discipline.”
Parthenon Capital Partners Completes Investment In White River Capital
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.