Byrider Franchisees Partner To Acquire Franchising Assets
CARMEL, Ind., September 12, 2024 — Byrider, America’s largest buy-here-pay-here used car dealership franchise system, announced today that an investor group of Byrider franchisees has acquired the assets of Byrider Franchising from Altamont Capital Partners and started a new, franchisor-only entity named Byrider Franchising Partners, LLC.
Greg Barrett, John Chalfant, Sean Garber, Chris McPhie, Tom Swigart, and Chris Thomas comprise the ownership group. Altamont Capital will continue to hold equity in the new entity. Garber has been elected Chairman of the Board of Directors.
“We are partnering with our fellow franchisees to lead Byrider to new success,” said Garber. “The investment by our franchisee ownership will empower the entire enterprise to better support our amazing customers. Together, we will strengthen the company’s culture and communicate more meaningfully with our franchisees to drive the growth of our unique and vital business.”
Byrider’s franchise support team continues providing franchisees with accounting guidance, legal and compliance expertise, human resources and recruiting, innovative marketing, modern information technology solutions, a custom credit scorecard, and robust in-person and virtual training.
“It is inspiring to everyone in our system to have franchisees who believe in our mission, brand, and business model to such a degree as to acquire ownership of it. Their commitment speaks volumes to current and future franchisees and highlights why a Byrider franchise continues to be a profitable opportunity with a purpose – helping consumers achieve a better financial future for themselves and their families,” added Byrider Franchising CEO Mike Onda.
Onda continues as CEO of the new organization, retaining several key executives and staff. Onda joined Byrider in 2014 as a strategy executive, moved on to progressive operational leadership roles, became CEO in early 2024, and has been integral to the transition to the new company.
Byrider expects expansion into several new markets by new and existing franchisees. Information about franchise opportunities can be found at www.byriderfranchise.com.
About Byrider: Byrider, America’s largest buy-here-pay-here used car dealership and franchise system, has sold more than 1.34 million cars at more than 100 locations across the country. Founded in 1989 as J.D. Byrider, the company recently rebranded and changed its name to Byrider. As part of its commitment to customer service, Byrider offers high-quality autos, trucks, and SUVs with on-site financing and features company warranties or optional service plans with vehicles sold. Each Byrider store features a state-of-the-art service department offering low-cost maintenance. Consumers who have been turned down for traditional bank financing are often able to “Buy, Finance, and Drive On” at www.byrider.com.
Media Contact: Zach Zagar, zzagar@byrider.com
