September 02, 2014 7:55 PM ET

Internet Software and Services

Company Overview of DealerTrack Canada, Inc.

Company Overview

DealerTrack Canada, Inc. provides on-demand credit application processing solutions in Canada. It offers Credit Network, an online finance tool for the automotive, recreational, marine, and home improvement industries; Aftermarket Network that streamlines and integrates aftermarket process to sell aftermarket products, as well as allows users to complete their financing; and credit bureaus to assist users in pre-qualifying their prospects and structuring a financing transaction that meets the needs of customers, as well as to process customer credit bureau queries. The company also provides DealTransfer, which automatically transfers information between dealer management system, and the Deal...

2700 Matheson Boulevard East

East Tower

Suite 702

Mississauga, ON L4W 4V9

Canada

Phone:

877-288-2191

Fax:

877-872-2564

Key Executives for DealerTrack Canada, Inc.

Chief Executive Officer
Age: 55
Chief Financial Officer
Director of Marketing & Product Development
Senior Director of Lender Solutions
Compensation as of Fiscal Year 2014.

DealerTrack Canada, Inc. Key Developments

Dealertrack Technologies, Inc. and Dealertrack Canada, Inc. Enter into a Credit Agreement with JPMorgan Chase Bank, N.A

Dealertrack Technologies, Inc. and Dealertrack Canada, Inc. entered into a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, the several lenders from time to time party thereto and the other agents from time to time party thereto. The New Credit Agreement provides the Borrowers with credit facilities aggregating $800 million, including a $575 million term loan B facility and a $225 million revolving credit facility. The proceeds of the Term Facility were used to pay the cash consideration for the Merger to the Sellers, to effectuate the payment in full of any amounts due under that certain Credit Agreement dated as of April 20, 2011, by and among Dealertrack, the Canadian Borrower, the several lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent and the other agents from time to time party thereto to pay the fees and expenses related to the Merger and the refinancing of the 2011 Credit Agreement and for general corporate purposes of Dealertrack and its subsidiaries. The proceeds of the Revolving Facility may be used for general corporate purposes of Dealertrack and its subsidiaries. Up to $25 million of the Revolving Facility may be used to obtain letters of credit, up to $25 million of the Revolving Facility may be used to obtain swing line loans, and up to $35 million of the Revolving Facility may be used to obtain revolving loans and letters of credit in Canadian Dollars. The 2011 Credit Agreement was terminated on the Signing Date. The New Credit Agreement provides that, subject to certain conditions, Dealertrack may request, at any time and from time to time, the establishment of one or more additional term loan facilities and/or the Borrowers may request increases to the Revolving Facility in an aggregate principal amount not to exceed the sum of $200 million plus an additional amount if, after giving effect to such additional amount on a pro forma basis, Dealertrack’s consolidated first lien leverage ratio does not exceed 4.00 to 1.00. Interest on loans made under the New Credit Agreement’s Term Facility accrues, at Dealertrack’s option, at a rate per annum equal to the ABR plus a margin ranging from 1.50% to 1.75% depending upon Dealertrack’s consolidated first lien leverage ratio or LIBOR for an interest period to be selected by Dealertrack plus a margin ranging from 2.50% to 2.75% depending upon Dealertrack’s consolidated first lien leverage ratio. Interest on loans made under the New Credit Agreement’s Revolving Facility in U.S. Dollars accrues, at the Borrowers’ option, at a rate per annum equal to the ABR plus a margin ranging from 0.50% to 1.25% depending upon Dealertrack’s consolidated first lien leverage ratio or LIBOR for an interest period to be selected by Dealertrack plus a margin ranging from 1.50% to 2.25% depending upon Dealertrack’s consolidated first lien leverage ratio. Interest on loans made under the New Credit Agreement’s Revolving Facility in Canadian Dollars accrues at a rate per annum equal to the ABR plus a margin ranging from 0.50% to 1.25% depending upon Dealertrack’s consolidated first lien leverage ratio or the CDOR Rate for an interest period to be selected by Dealertrack plus a margin ranging from 2.50% to 2.75% depending upon Dealertrack’s consolidated first lien leverage ratio.

Quorum Information Technologies Inc. Announces Integration with DealerTrack Canada

Quorum Information Technologies Inc. announced that it has developed integration with DealerTrack Canada. Quorum's DMS, XSellerator features real-time push integration into DealerTrack's network, supplying purchaser, vehicle and deal information to their system.

Dealertrack Canada Appoints Michael McCarthy as Vice President and General Manager

Dealertrack Technologies announced that Michael McCarthy has been named Vice President and General Manager, Dealertrack Canada. Michael McCarthy joins Dealertrack from Davis & Henderson (D&H), where he was Vice President for Lending Services and, most recently, Product Commercialization. Prior to D&H, he held senior management positions with Scotiabank, including Chief Operating Officer for their automotive leasing and fleet management subsidiary and Vice President of Strategy for Scotia's Global Transaction Banking Group. McCarthy holds Bachelor degrees from the University of Toronto, a Master of Arts degree from the Royal Military College of Canada and an MBA from McMaster University.

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