Stellantis to acquire First Investors Financial Services from Gallatin Point Capital and Jacobs Asset Management for $285m.

Stellantis, an automaker and a mobility provider, agreed to acquire First Investors Financial Services, an auto finance company, from Gallatin Point Capital, a private investment firm, and Jacobs Asset Management, a money manager, for $285m. "This transaction marks a significant milestone in Stellantis' sales finance strategy in the critical U.S. market. First Investors has an outstanding financial and operational platform, underpinned by a strong management team, with vast experience in the auto finance space. Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options, including retail loans, leases, and floorplan financing in the near-to-medium term," Carlos Tavares, Stellantis CEO.