Cornell Capital completed the acquisition of Spectrum Automotive from Southfield.

Cornell Capital, a leading private equity firm, completed the acquisition of Spectrum Automotive Holdings, a leading agent, marketer and administrator of finance and insurance products from private equity firm Southfield Capital. Financial terms were not disclosed. Spectrum is the sole distribution company in the F&I industry providing a full suite of proprietary and third-party extended warranty and ancillary products to more than 1.4k dealer, administrator and original equipment manufacturer partners. "Cornell Capital's operational experience and intricate knowledge of our business and the opportunities present in the market make them the ideal partner for Spectrum's next stage of growth as we continue to expand what we can deliver to our clients, employees, and partners." Jim Polley, Spectrum CEO.