Auto Experience to acquire Consumer Portfolio Services for $135m.

Auto Experience, a company created in 2018 to pursue strategic business opportunities in the automobile financing market, offered to acquire Consumer Portfolio Services, a specialty finance company that provides indirect automobile financing, for $135m. "Acquiring Consumer Portfolio Services and leveraging our strategic and operational experience in auto financing and enterprise technology will create a strong national player that already has a toe-hold in more than 8k automobile dealerships across the US. CPS is significantly undervalued based on a range of performance measures and upside growth opportunities, and we believe our proposed acquisition would be materially beneficial to shareholders and, over the longer run, to consumers and dealers," Samuel M. Ellis, Auto Experience President and CEO.