Three Chrysler-Dodge-Jeep-Ram dealerships and a Buick-GMC dealership sold in November and December transactions that included a private equity firm, two expanding dealership groups and first-time owners as buyers.
Here's a look at the transactions involving domestic brand dealerships.
Private equity firm adds Stellantis store
Dobbs Equity Partners in Memphis, Tenn., expanded its automotive portfolio with the fourth-quarter purchase of a Chrysler-Dodge-Jeep-Ram dealership in Connecticut.
The private equity investment firm on Nov. 4 purchased Papa's Chrysler-Dodge-Jeep-Ram in New Britain from Dom Papa, said Rick Greene, COO of Dobbs Equity Partners.
"The dealership has a great reputation," Greene said in an email to Automotive News. "It has been a pillar of the community for more than 70 years."
The dealership's name was retained.
The Dobbs family name has a long history in auto retail, going back to the 1920s. Dobbs Automotive Group in 1998 sold its more than 20 dealerships to Republic Industries Inc., which in 1999 changed its name to AutoNation Inc.
Today, the Dobbs firm is led by CEO John Dobbs Jr., and its Dobbs Family Automotive portfolio includes seven other franchised rooftops in Indiana, Kansas, Arkansas and Texas, according to its website.
Greene said the firm is looking to add more dealerships and would like to have as many as 30 in five years, but it wants to grow "prudently with the right partners."
"We like the Mid-South and Midwest markets and anything in the southern U.S., but we are open to going outside these areas for the right opportunities," he said.
Generational Equity, a Dallas advisory firm, represented the seller in the transaction.