Private equity firm Luminate Capital Partners has sold AutoQuotes to TA Associates. As part of this deal, AutoQuotes will become part of Revalize, a cloud-based software platform for manufacturers, per a release announcing the deal. Jim Contardi will serve as CEO of Revalize.
Luminate acquired AutoQuotes in 2018 from the company’s founders Kent Motes Jr. and Alex Motes.
“Over the last few years, the AutoQuotes team has enjoyed a great partnership with Luminate; they have helped us build our organization organically and through acquisition, opening up new growth opportunities and expanding on our market leadership,” says Jim Contardi, AutoQuotes CEO in a statement announcing the deal.
This is the latest in a series of strategic moves for AutoQuotes. In November 2020, AutoQuotes acquired Axonom, a company that provides guided selling, visual configuration, spatial planning and VR/AR solutions. Earlier that fall, AutoQuotes added an Atlanta location.