Open Road Capital, just more than a year after making its first auto dealership investments with Bain Capital Credit as a funding partner, has grown its store platform through three new partnerships.
Open Road, an auto-retail investment company which in September 2020 bought a majority stake in four Mississippi dealerships with Bain Capital Credit funding, has invested into three projects this year:
1. It bought a minority stake in Pritchard Cos., a family-run, commercial-fleet-focused dealership group in Iowa.
2. Last week, it bought a majority stake in a BMW dealership in Ridgefield, Conn., with Keeler Motor Car Co. of Latham, N.Y.
3. In November, it bought a majority stake in three Monrovia, Calif., dealerships with dealer partner Rinaldi Halim, and bought a majority stake in his two other Chrysler-Dodge-Jeep-Ram stores in California.
"Because of Open Road's investment, it gave me an opportunity to also become a landowner in the retail automotive sector," said Halim, 42, who is now president of the five-dealership group in California.