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On Friday, one of the largest providers of lending, insurance, risk management and data solutions provider for credit unions, Allied Solutions, announced the organization had acquired a majority ownership of roadside assistance and service logistics company TrxNow.
According to the majority acquisition announcement, the Carmel, Ind.-based Allied Solutions secured the deal with Johnson City, Tenn.-based TrxNow to support Allied's key initiatives across the company as well as expanding its distribution opportunities in Canada.
"Allied continues to invest in strategic acquisitions that will complement our business and this latest deal is no exception. I am very excited about the acquisition of TrxNow and how it connects into our big picture vision for Allied Solutions. Their products align very well with our MBP and Recovery Services and they have dominated the market with their cloud-based technology solutions and 24/7 trilingual contact center. TrxNow is also a perfect fit from a culture perspective and that is very important for long term success," said Pete Hilger, CEO, Allied Solutions.
In describing the benefits of this acquisition to credit union clients, Allied Solution stated this move will give "financial institutions across the United States and Canada access to a powerful and unique suite of solutions powered by market leading technology and unparalleled service. Together they will deliver a truly connected and transparent customer experience and will reach a broader audience with expanded markets and distribution."
"Our entire organization is proud to have earned the confidence of Pete Hilger, his leadership team and Allied Solutions to invest in us. I am confident that this will pave the way for increased growth and better opportunities for our existing clients. TrxNow is driven to ensure we over deliver and continue to be the best solution in the logistics and roadside assistance space," said Anthony M. Royer, president/CEO, TrxNow.
Earlier this year, Allied Solutions acquired the data science and predictive modeling company Prescient Models, headquartered in Santa Fe, N.M. At the time, Allied stated the acquisition would provide credit unions with new models to identify opportunities for strategic growth, profitability initiatives and other data-driven solutions.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
