GPB Capital has acquired a majority stake in Kenny Ross Automotive Group, an operator of 10 automotive dealerships in the Pittsburgh metropolitan area.
The Kenny Ross Automotive Group was founded in 1954 and sells new and used cars, provides financing, sells parts and provides automotive repair services. .
The Group’s dealerships, which sell Chevrolet, Buick, GMC, Cadillac, Ford, Subaru, Toyota, Mazda, and Nissan automobiles, are located in North Huntingdon (3), Zelienople (2), Somerset, Adamsburg, Pittsburgh, and Moon Township (www.kennyross.com)
“We look to partner with proven companies in order to provide capital and management expertise that enable them to achieve the next level of growth and profitability,” said David Gentile, Founder and CEO of GPB Capital. “We focus on income-producing private equity, and Kenny Ross Automotive Group’s proven management team and successful track record are great examples of the key acquisition criteria we look for in every deal that we pursue.”
“Kenny Ross Automotive Group has a meaningful history and solid reputation in Pittsburgh, and their successful dealerships serve as the ideal platform for us to grow our industry presence in Western Pennsylvania,” said Manuel Frederico Vianna, Managing Partner with GPB Capital. “The franchised auto dealer industry was the largest retail business in the US in 2016, and we are eager to begin working with the Ross family to maximize the potential of these franchises.”
Managing Partner Jeff Lash, Vice President Brian Marshall, Director of Dealer Acquisitions & Operations Brian Brown, and Associate Stephen Jones worked on the transaction for GPB Capital.
GPB Capital invests in middle market companies that are active in automotive retail, managed IT services, and waste management sectors. The firm was also invests in real estate and special situations. GPB Capital is based in New York (www.gpb-cap.com).
The Presidio Group (www.thepresidiogroup.com) provided financial advisory services to Kenny Ross Automotive Group.
© 2017 Private Equity Professional | July 18, 2017
