GPB Capital Acquires Majority Stake in Pittsburgh Automotive Group
GPB Capital, a New York-based asset management firm, has acquired a majority stake in Kenny Ross Automotive Group, which operates 10 automotive dealerships in the Pittsburgh metropolitan area.
GPB Capital purchased the majority ownership as part of a recapitalization of nine of Kenny Ross Automotive Group’s dealerships. Terms of the deal were not disclosed.
“We look to partner with proven portfolio 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.”
GPB Capital focuses on income-producing private equity and provides their portfolio company operators with the strategic planning, managerial insight and capital. The company has more than $1.2 billion in assets under management and has acquired or invested in more than 100 portfolio companies.
