“We remain a passive partner,” Romanoff stated. “Adam and team continue to fully run operations, but we’ve provided them the intellectual and equity capital that they need to further their objectives.”
Folk-run Landscapes Automobile is the second one auto store funding for Franchise Fairness Companions, following its $70 million October funding in Georgica Auto Holdings. In a while then that partnership used to be introduced, Georgica Auto purchased 3 dealerships in Connecticut.
Introduced by means of Romanoff and Michael Esposito in November 2021, the company gained $1 billion in investment from HPS Funding Companions. It used to be tasked to put money into 5 sectors, together with automobile dealerships, with about $400 million focused for that sector.
Romanoff stated the extra quantity — about $275 million — gets invested in additional partnerships corresponding to those with Landscapes Automobile and Georgica Auto. He stated the company prefers multigenerational organizations and companions in distinct geographies.
Don Reese, CEO of Franchise Fairness’s auto holdings, instructed Automobile Information that as alternatives stand, the company now has a monetary and structural footprint that permits them to facilitate trade in extra successfully and briefly.
“We are now, as an investor, a minority partner, approved by 13 manufacturers between the two deals that we’ve done,” Reese stated.
