Prime’s founder, David Rosenberg, will remain as CEO, and the company’s day-to-day operations will remain unchanged. His family has a good reputation among New England residents. Ira Motor Group, one of Boston’s most well-known auto dealership companies, was founded by Mr. Rosenberg’s father.
Who owns Ira Automotive Group?
The Rosenbergs accepted an offer from Group 1 Automotive (a publicly traded corporation based in Houston, Texas) to buy the Ira Motor Group in 1999. Ira Rosenberg, who was 62 years old at the time, had developed a hugely successful company from the bottom up, doing everything alone. His post-sale retirement was well-deserved—he finally had time to relax.
He was bored out of his mind. How bored are you? “I’d either prefer to go back to work or get a lobotomy,” he reportedly told his wife. Needless to say, no call to a psychiatric surgeon was made.
Who owns Ira dealerships?
According to senior vice president Pete Delongchamp, the Ira Group has been a part of Group 1 Automotive for than 20 years. With the acquisition, Group 1 now has a total of 15 Toyota dealerships in the United States, as well as a total of ten in New England: seven in Massachusetts and three in New Hampshire.
Who is Ira Rosenberg?
Ira Rosenberg, who founded Ira Motor Group in Boston in 1975 and sold it to public retailer Group 1 Automotive Inc. 25 years later, died Thursday of complications following a fall last month. He was 82 years old at the time.
Is Ira Rosenberg still alive?
Group 1 Automotive Inc., a publicly traded auto retailer, announced Monday that it has agreed to buy Prime Automotive Group, one of the largest privately held dealership groups in the United States. The $880 million deal comprises nearly all of Prime’s assets, including 30 stores, three collision centers, and real estate, according to Group 1.
Who bought prime motors?
Rosenberg valued relationships, which drove him to the auto industry, according to his son, David Rosenberg, CEO of Prime Automotive Group, which operates 61 stores across eight states.
Who owns Orleans Toyota?
SANTA CRUZ — After nearly 60 years of ownership by the same family, the Frank Galos Chevrolet and Cadillac dealership has changed hands. Last Monday, Mark Galos announced the dealership’s sale to Dave Rosenberg and Mike Gibel.
What happened to Frank Galos Chevrolet?
Prime is based in the Boston suburbs of Westwood, Massachusetts. Group 1 Automotive Inc. has finalized the purchase of 27 dealerships from Prime Automotive Group, which was announced in September and was estimated to cost $880 million. The deal was completed approximately a week ahead of schedule.
Who is buying Prime Automotive Group?
The Portland Press Herald reported Monday that a deal reached last week allowed Houston-based Group 1 Automotive Inc. to purchase Prime Automotive from New York-based GPB Capital Holdings for $880 million. In the Mid Atlantic and New England, Prime Automotive Group operates 30 dealerships and three collision facilities.
Who is buying prime automotive?
Prime Motor Group’s CEO, David Rosenberg, is the owner of 25 locations in and around Boston, Cape Cod, Southern New Hampshire, and Southern Maine. David is a consumer advocate who openly shares his industry experience with others.
Who is the CEO of Prime Motor Group?
“For many years, Group 1 has effectively operated throughout the Northeastern United States. In a statement, Group 1 president and CEO Earl J. Hesterberg stated, “We are thrilled to have this opportunity to leverage our existing cost structure and to further broaden our U.S. footprint.”
Prime Toyota, Prime Volkswagen, Prime Ford, Prime Chrysler Dodge Jeep RAM, and Prime Honda, all in Saco, operate 30 dealerships and three collision centers throughout the Mid-Atlantic and New England areas.
GPB Capital is being sued by David Rosenberg, whose late father, Ira Rosenberg, constructed a series of dealerships in Maine before selling them to the investment business in 2017.
David Rosenberg, who had been named head of the dealerships by the new owner, was removed after raising concerns about GPB Capital and Prime Automotive’s financial operations. Rosenberg’s lawsuit claims that GPB Capital failed to buy back his Prime Automotive ownership stake as promised in his employment contract.
A Texas law firm has sued GPB Capital and its connected businesses, alleging that the corporation deceived investors of $1.8 billion, and the Commonwealth of Massachusetts has claimed that 180 investors in the state have lost $14 million.
