Acquisition Announcement – Honda Portfolio

Acquisition Announcement – Honda Portfolio

Legacy Automotive Capital re-capitalizes a regional dealer group through its acquisition of 2 Honda dealership properties in the Northeast US. The acquisition adds 2 properties to Legacy’s growing dealership portfolio.

 

“I recently worked with Legacy on multiple transactions and was pleased with the professionalism and efficiency of their process. The company was true to their word, acted quickly, and allowed me to successfully execute on our business and personal goals while minimizing the day-to-day activities of running the business. We hope we can work with Legacy in the future and recommend their program to any dealers looking to expand or recapitalize their holdings.”

— Lundgren Automotive Group

Legacy Automotive Capital Raises $500 Million

Legacy Automotive raises $500 million

Legacy Automotive Capital is aiming to deploy $500 million over the next 36 months by assisting dealers in acquiring property in buy-sell transactions or providing them capital via a dealership sale-leaseback.

An investment firm, led by the co-founders and an investor of a business sold to Reynolds and Reynolds Co., aims to spend $500 million over the next three years by assisting dealers in acquiring property in buy-sell transactions or providing capital via sale-leasebacks of dealerships.

Legacy Automotive Capital, founded in 2019 by Ben Catanese, Todd Marcelle and TJ Doyle and based in Exton, Pa., in suburban Philadelphia, has an additional $1 billion in funding commitments that could come later.

“We believe that we can represent the real estate component of the capital stack in a buy-sell transaction,” Catanese, Legacy’s CEO, told Automotive News. “That’s really where we think we can be helpful, where we currently are being helpful to dealers.”

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