Franchise Equity Partners invests $55M in Parks Automotive Group
“We remain a passive partner,” Romanoff said. “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.”
Family-run Parks Automotive is the second auto retailer investment for Franchise Equity Partners, following its $70 million October investment in Georgica Auto Holdings. Shortly after that partnership was announced, Georgica Auto bought three dealerships in Connecticut.
Launched by Romanoff and Michael Esposito in November 2021, the firm received $1 billion in funding from HPS Investment Partners. It was tasked with investing in five sectors, including automotive dealerships, with about…
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