One moment previous, Crew 1 bought Ira Chrysler-Dodge-Jeep-Ram and Volkswagen Saco, each in Saco, Maine, south of Portland, to DSR Motor Crew on July 24, Rosenberg showed to Car Information.
The retail outlets had been renamed Jack Chrysler-Dodge-Jeep-Ram and Jack Volkswagen of Saco. Jack was once the center title of Rosenberg’s past due father, Ira Rosenberg, who began Ira Motor Crew alike Boston in 1975 and bought it 25 years nearest to Crew 1. He additionally co-founded High Motor Crew with David Rosenberg. Ira Rosenberg died in 2019.
Each Saco dealerships had been a part of High Car Crew when Crew 1 received nearly all of the corporate in November 2021, Rosenberg mentioned. Rosenberg have been CEO at High Car till being fired through High’s then-majority proprietor, GPB Capital Holdings, in September 2019. Rosenberg introduced DSR Motor Crew in a while.
Lavish Dempsey is working spouse and has a minority possession stake within the Volkswagen dealership week Chris Gannett is working spouse and has a minority possession stake within the Chrysler-Dodge-Jeep-Ram shop, Rosenberg mentioned, including that he labored with each in the past.
Rick Bickford, running spouse at DSR Motor’s Tri-Town Chrysler-Dodge-Jeep-Ram and Tri-Town Subaru in Somersworth, N.H., is also an fairness spouse in each the Volkswagen and Stellantis retail outlets, Rosenberg mentioned.
Rosenberg mentioned the familiarity with each retail outlets drew him to the purchase. He mentioned he nonetheless owned the true property the place the Chrysler-Dodge-Jeep-Ram dealership was once and the tide development is wanting a facility improve.
“I was probably the best buyer for the store,” Rosenberg instructed Car Information. “And I’m looking to grow the group anyway. I feel a lot of loyalty for the people that I used to work with. It made sense in both cases to buy the stores back.”
The 2-store acquire was once DSR Motor’s first because it purchased a Audi-Volkswagen dealership in Massachusetts in June 2022, Rosenberg showed.
Rosenberg mentioned he continues to search for acquisitions.
“I have a lot of people that were loyal to me that deserve to be dealers themselves,” Rosenberg mentioned. “I’d like to help them accomplish that.”
In an Aug. 2 press drop, Crew 1 mentioned the 3 divested dealerships generated $85 million in annual income.
