NEW YORK, Jan. 15, 2019 /PRNewswire/ -- GPB Capital Holdings, LLC (GPB Capital) congratulates David Rosenberg, CEO of Prime Automotive Group (Prime), for being honored by Automotive News as one of the publication's "2018 All Stars." Mr. Rosenberg was named the Automotive News "2018 All Star, Dealer-Private."
The annual Automotive News All Stars listing highlights automotive industry executives who have had the greatest impact on the sector over the previous year. A list of all honorees is available online at: https://www.autonews.com/awards/all-stars.
"We could not be more proud of David Rosenberg and the commitment to customers and employees that he and his team demonstrate every day," said David Gentile, Founder and CEO of GPB Capital. "We are glad Automotive News has spotlighted David and Prime Automotive Group for helping consumers throughout New England purchase new and used vehicles that best meet their needs—and continuing to serve those consumers with maintenance and repair services long after they've purchased their vehicles."
Under Mr. Rosenberg's leadership, Prime launched the Prime Flip vehicle-subscription program in June 2018 for customers in suburban Boston. Prime Flip offers members easy access to premium and luxury sedans, convertibles, coupes, crossovers, pickups, and SUVs, which they can request using the program's smartphone app. Prime has also been working with GPB Capital to develop proprietary customer service software to streamline operations, generate operational efficiencies, and lower costs across all dealerships, as well as open its own body shops to expand and improve the auto maintenance and repair services provided to customers.
Prime was formed following GPB Capital's acquisition of a majority equity stake in Westwood, Massachusetts-based Prime Motor Group, which was finalized in October 2017. For more information about Prime, please visit: https://www.driveprime.com/.
Mr. Rosenberg and his family have a stellar reputation as automotive retailers in New England built on decades of experience and trust. Mr. Rosenberg's father, Ira, founded Ira Motor Group, one of the most well-known auto dealership groups in Boston. Upon taking over from his father in 1998, Mr. Rosenberg facilitated the sale of Ira Motor Group to Group 1 Automotive (NYSE: GPI) in 2000 and stayed on as Platform President until 2006, when he left to focus on founding and expanding Prime.
"Our management team is deeply attuned to ongoing changes in the automotive retail industry, and with operational and financial support from GPB Capital, we have been able to stay one step ahead while continuing to meet the needs of our customers, employees, and communities," said David Rosenberg, CEO of Prime Automotive Group. "We will continue to seek opportunities to grow our market share in New England and expand the suite of vehicles, and parts and services, we can offer customers."
About GPB Capital Holdings, LLC
GPB Capital is a New York-based alternative asset management firm that seeks to acquire income-producing private companies. GPB Capital seeks to provide its operating companies with the strategic planning, managerial insight, and capital needed to enable strong businesses to achieve the next level of growth and profitability. GPB Capital has raised more than $1.5 billion in capital. For more information, please visit www.gpb-cap.com.
The opinions expressed herein are subject to change without notice. GPB Capital is an independent registered investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a specific level of skill or training. More information about GPB capital, including our investment strategies, fees, and objectives, can be found in our ADV Part 2, which is available upon request.
Media Contact:
Dana Taormina
JConnelly for GPB Capital
973.850.7305
GPB@jconnelly.com
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SOURCE GPB Capital Holdings, LLC
