Driving the news: Automotive entrepreneur Artem Boguslavskiy purchased multiple dealerships in Gorham, New Hampshire, from Summit Automotive CEO Alex Gillett in a deal that closed on January 15. Summit operated the dealerships under its Berlin City Auto Group arm.
For context: Berlin City Toyota, Berlin City Honda, Berlin City Nissan and Berlin City Chrysler Dodge Jeep Ram sit connected along Main Street, about a three-minute walk from Berlin Chevrolet GMC.
Boguslavskiy owns multiple dealerships in several states, including in New York and New Jersey, some with a partner.
This is his first in New Hampshire and the stores will be renamed soon.
Pinnacle Mergers & Acquisitions CEO Bill Scrivner represented Gillett in the deal.
What they’re saying: “This was the first of many transactions that Pinnacle M&A will be closing in the first quarter of this year,” Scrivener told Car Dealership Guy News. “The M&A market continues to be robust.”
Bottom line: Boguslavskiy’s deal helps expand the portfolio into New England and bolsters its presence on the East Coast. Owning multiple stores helps with scalability in this era where smaller dealers can struggle competing with larger groups. And, if the past two weeks indicate anything, it seems we’re in for another busy year of stores trading hands.
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
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