Nexa Equity LLC, a private equity firm focused on scaling lower middle market software and fintech businesses, has made a majority growth investment in AutoReturn, a provider of towing and parking enforcement software. AutoReturn’s management team and founders will continue to be meaningful shareholders of the business.
AutoReturn connects law enforcement, parking enforcement, towers and vehicle owners on a single software platform.
“AutoReturn is emblematic of Nexa Equity’s investment approach given the company’s undeniable impact on modernizing the towing and parking enforcement sector that was previously dominated by pen, paper and phone calls,” said Vlad Besprozvany, founder and managing partner at Nexa Equity. “AutoReturn has grown rapidly as a result of its unique technology platform and strong customer loyalty. We are excited to have AutoReturn as our second platform investment.”
“The Nexa Equity team has a strong track record of scaling software companies, and we are excited to partner with them as we enter our next phase of growth,” said John Wicker, AutoReturn’s founder. “AutoReturn’s vision is to make the towing and parking enforcement process easier for everyone involved. In partnership with the Nexa Equity team, AutoReturn will further execute on this vision while expanding into new product categories and propelling customer adoption domestically and internationally.”
“Our customers see us as a trusted technology partner that can help address challenges they encounter in their businesses,” said AutoReturn CEO Jerry Carnahan. “We are laser focused on providing public and private sector customers with the tools they need to efficiently manage towing and parking enforcement while reducing wait time and secondary accidents.”
Willkie Farr & Gallagher LLP and Kirkland & Ellis LLP served as legal advisors to Nexa Equity. Wilson Sonsini Goodrich & Rosati and Silicon Valley Law Group served as legal advisors to the company.