Location Services, LLC: Company Profile

Background

Company Overview

Location Services, LLC, established in 2018, is a financial services company specializing in comprehensive collateral recovery solutions for the auto financial services industry. The company offers a full range of loss mitigation services, emphasizing efficiency, compliance, and performance accountability. Leveraging cutting-edge License Plate Recognition (LPR) technology, Location Services ensures optimal recovery outcomes for its clients.

Mission and Vision

The company's mission is to provide efficient, effective, and compliant end-to-end location, recovery, LPR, and transportation services to clients in the auto financial services sector. Its vision is to be the premier provider of collateral recovery services, achieving this through collaborative and transparent relationships with clients and vendor partners.

Industry Significance

Operating within the finance and financial services sectors, Location Services plays a crucial role in loss mitigation for auto financiers. By offering specialized services such as repossession management, skip locating, and LPR technology, the company addresses the industry's need for efficient and compliant asset recovery solutions.

Key Strategic Focus

Core Objectives

Location Services aims to deliver comprehensive and compliant collateral recovery solutions, ensuring high recovery rates and client satisfaction. The company focuses on maintaining best-in-class compliance and performance accountability.

Areas of Specialization

The company's services include:

LS Recovery: A nationwide agent network trained in recovery and compliance programs, utilizing LPR technology for quick and effective results.

LS Skip: Employing seasoned investigators and data modeling to provide real-time location updates for efficient collateral recovery.

LS LPR: Enhancing asset recovery through state-of-the-art LPR technology and real-time data, offering a no-risk, staged hotlist option with increased recovery rates.

LS Impounds: Streamlining impound processes, including document completion, fee fronting, and securing out-of-country recoveries.

LS Remarketing: Leveraging relationships with NAAA-sanctioned auction partners to maximize collateral value and minimize losses.

LS Keys: Providing national locksmith services for various key types, ensuring collateral accessibility and safe transportation.

LS Transport: Offering nationwide licensed and insured transportation networks for collateral, including salvage and oversized items.

LS Titles: Managing repossession titles, disputes, and transfers across the United States.

LS AutoNotice: Managing complex notification processes with automated fulfillment and tracking for all 50 states.

Key Technologies Utilized

The company employs advanced LPR technology to enhance asset recovery efficiency and accuracy. This technology, combined with real-time data analytics, supports the company's comprehensive service offerings.

Primary Markets Targeted

Location Services primarily serves clients in the auto financial services industry, including auto financiers, lenders, and leasing companies, across all 50 states.

Financials and Funding

Funding History

Specific details regarding the company's funding history are not publicly disclosed. However, Location Services is owned by Delaware Street Capital (DSC), an investment group controlled by a Chicago-based family with a substantial track record in real estate and business acquisitions exceeding $60 billion.

Intended Utilization of Capital

While specific utilization details are not publicly available, the capital is likely allocated towards expanding service offerings, enhancing technological capabilities, and supporting nationwide operations.

Pipeline Development

As a service-oriented company, Location Services does not have a traditional product pipeline. Instead, it focuses on continuously enhancing its service offerings and technological capabilities to meet client needs. The company is committed to integrating advanced technologies, such as LPR, to improve service efficiency and recovery rates.

Technological Platform and Innovation

Proprietary Technologies

The company's proprietary LPR technology is central to its service offerings, enabling efficient and accurate asset recovery.

Significant Scientific Methods

Location Services employs data analytics and modeling to support its skip locating and recovery processes, enhancing service effectiveness.

Leadership Team

Key Executives

Jerry Kroshus: Chief Executive Officer (CEO).

Todd Hollingsworth: Senior Manager of Compliance.

Professional Backgrounds and Contributions

The leadership team brings extensive experience from renowned entities such as GMAC, Ally Financial Inc., Exeter Finance LLC., and Toyota, providing significant value to clients by anticipating and delivering on their expectations.

Competitor Profile

Market Insights and Dynamics

The collateral recovery services market is characterized by a need for efficient, compliant, and technology-driven solutions. Advancements in technologies like LPR are driving growth and innovation within the industry.

Competitor Analysis

Key competitors in the market include companies offering similar services such as repossession management, skip locating, and asset recovery. Specific competitor names and details are not provided in the available sources.

Strategic Collaborations and Partnerships

Location Services collaborates with NAAA-sanctioned auction partners to enhance its remarketing services, aiming to maximize collateral value and minimize losses.

Operational Insights

The company differentiates itself through its comprehensive service offerings, advanced technological integration, and a strong compliance framework, positioning it as a competitive player in the collateral recovery services market.

Strategic Opportunities and Future Directions

Strategic Roadmap

Location Services is focused on expanding its service offerings, integrating advanced technologies, and strengthening client relationships to maintain its position as a leading provider of collateral recovery services.

Opportunities for Expansion

The company has opportunities to expand its technological capabilities, such as enhancing its LPR technology and data analytics, to improve service efficiency and recovery rates.

Future Objectives

Location Services aims to continue its growth trajectory by leveraging its technological innovations and industry expertise to meet evolving client needs and market demands.