Floorplan financier NextGear Capital has opened a new corporate office in Mississauga, Ontario.
The 12,000 square-foot office will house the company’ s customer service center with room for future growth as NextGear aims to expand its custom- er base in Canada. “We are excited to begin operations in our new space, which was necessary to accommo- date our growing business in Canada,” said Roy Vandermeer, Vice President of Canadian operations at NextGear. “This new office space also represents a significant investment from Cox Automotive to the Canadian automotive remarketing industry.”
NextGear, which launched in Canada in 2013, provides inventory financing for automotive, RV, marine and powersports dealers in Canada, the United States and the UK. The company is a division of Cox Automotive Group, which owns a variety of properties catering to the resale market including media (AutoTrader), F&I (NextGear Capital, Go Financial), auction services (Manheim, DealShield) and dealership software (VINSolutions, XTime). Cox Automotive Group VP Patrick Brennan and NextGear President Brian Geitner also turned out for the official Mississauga office ribbon cutting, and addressed dealers, industry leaders and auction employees in attendance about NextGear’ s growth in Canada.
“This is a fast-paced and time sensitive business, and our online account manage- ment tools are geared to provide valuable real-time information that allows dealers to make informed decisions while on the go,” said Vandermeer. “Our goal this year is to introduce our technology offerings to our existing and rapidly growing custom- er base in Canada, and we fully expect to continue the growth trajectory we experienced in 2014 under the NextGear Capital brand.”
NextGear Capital previously occu- pied office space within Manheim Toronto. Earlier this year the company rolled out its account management tech- nology to Canadian customers, allow- ing them 24/7 account access in both English and French.
