A Raleigh-based automotive operations and solutions company has sold almost $8 million in equity and options to two investors, according to a Securities and Exchange Commission filing.

KEEPS Inc., which stands for “Key Employee Evaluation & Planning Systems,” filed a Form D on Oct. 11. The company said the offer was made to fund the purchase of Dynatron Software Inc.

Dynatron is based in Irving, Texas.

  • WHAT IS DYNATRON? Watch a video at: https://www.youtube.com/watch?time_continue=7&v=hUbpEuIBUHo

KEEPS provides industry-exclusive data designed to save management time and improve profits for automotive retail service operations.

KEEPS’ software is found in seven of the United States’ top 10 dealer groups along with over 400 other dealerships throughout the U.S. and Canada.

Ray Branch founded the company over 20 years ago. It has become the automotive industry’s premier provider of retail automotive service department analytics, repair order analysis and advanced service management support, according to its website.

The company is partnered with a patriarch called the “The Silver Group.” The group includes Les Silver, vice president of KEEPS and founder of Newgen Results Corp., MPI and Service Repair Solutions, and two of his sons, Leigh Silver and Darcy Silver.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must first file what’s known as a Form D electronically with the SEC after they first sell their securities.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism