Altamont Capital Partners Acquires J.D. Byrider

INDIANAPOLIS and PALO ALTO, Calif., May 3, 2011 /PRNewswire/ — J.D. Byrider,
the Indianapolis-based leading used car sales and finance business, announced
today that it has been acquired by private equity firm Altamont Capital Partners
(Altamont).

With a long-term investment horizon, Altamont will provide strategic direction,
experienced resources and additional capital to support the company’s growth and
franchisee expansion initiatives. The acquisition of J.D. Byrider is Altamont’s
first investment from its $500 million inaugural fund, which closed late last
year. The firm is focused on acquiring and building middle-market businesses
across a range of industries.

J.D. Byrider’s current President of Franchising Steven E. Wedding will assume
the role of CEO, and the J.D. Byrider executive team will remain in place. James
F. DeVoe, Jr. will remain a member of the board of directors and will serve as a
consultant to the company.

“This is a milestone day for J.D. Byrider,” said Wedding. “As a result of
nurturing the J.D. Byrider brand over 20 years, our company is and has always
been the leader of the used car sales and finance industry. We have a unique
franchising model, and our proprietary Discover System is the industry’s premier
software. With this transaction, J.D. Byrider will be able to fully capitalize
on existing business opportunities, including a large and fragmented market, and
an expanding customer base. The investment will also allow J.D. Byrider to
expand franchise-owned stores, add company-owned locations, pursue acquisitions
and create additional opportunities for employee advancement.”

“This is an opportunity to bring innovation, sharper strategic focus and new
capital to a business that is ripe for growth,” said Keoni Schwartz, Managing
Director of Altamont. “We are enthusiastic about the opportunity to partner with
Steve and his team to continue the work and make the investments required to
help the company realize its full potential.”

The company expects expansion to occur in several markets, and those interested
in acquiring a franchise are encouraged to visit franchise.jdbyrider.com.

“Our business model is proven,” said Wedding. “We’re eager to team with new
franchisees who recognize a tremendous opportunity to join our growing system.”

Stephens Inc. served as J.D. Byrider’s financial advisor on the transaction.

About J.D. Byrider

Founded in 1989 by the late James F. DeVoe, Sr., J.D. Byrider is the nation’s
leading used car sales and finance enterprise. The company was founded to serve
customers with special auto financing needs and to ensure that they receive the
same quality service in every J.D. Byrider dealership. With nearly 900,000
consumers matched to quality, affordable vehicles, the company continues its
focus on reliability and customer satisfaction. Headquartered near Indianapolis
in Carmel, Ind., J.D. Byrider consists of 127 franchised- and company-owned
dealerships in 29 states. Visit www.jdbyrider.com to learn more.

About Altamont Capital Partners

Altamont Capital Partners is a private investment firm based in the San
Francisco Bay Area with approximately $500 million of capital under management.
Altamont is focused on investing in middle market businesses where it can
partner with leading management teams to help its portfolio companies reach
their full potential. The firm’s principals have significant experience building
business success stories across a range of industries, including financial
services, consumer/retail, industrials, healthcare and business services.

www.altamontcapital.com

Contacts:
Chad Mertz
Borshoff for J.D. Byrider
317.631.6400
chad.mertz@borshoff.biz

Carol Roos
Brunswick Group for Altamont
415.671.7676
croos@brunswickgroup.com

SOURCE Altamont Capital Partners