Dent Wizard, an automotive reconditioning services and vehicle protection product company, is merging its finance-and-insurance division with tire and mechanical warranty provider Sonsio, both companies said Tuesday.
The new company, called Sonsio Vehicle Protection, will serve more than 74,000 locations across all 50 states, Canada and Puerto Rico. Their clients include new- and used-car dealerships, independent repair facilities and tire shops.
Both companies were recently acquired by Dealer Tire, a Cleveland-based outfit that supplies millions of tires each year to more than 8,000 new-car dealers' service departments.
On Jan. 1, Dent Wizard's F&I product line, called Evolution, became part of Sonsio. Sonsio CEO David Jones will be CEO of the new company. Lindsey Bird, division president of Evolution Vehicle Protection, will be Sonsio Vehicle Protection's president.
Previously, Sonsio sold just one F&I product: tire-and-wheel protection, Jones told Automotive News.
"We were always a one-trick pony. We really didn't compete with anybody in the space," he said. "We were looking at how to expand our product set. Do we build or buy?"