Dealership Broker Dave Cantin Discusses Asbury’s Recent $1 Billion Acquisition and Other Trends in the Buy-Sell Market
On 12/23/19, CBT Automotive Network welcomed our own Dave Cantin to lend his insight and expertise from his more than 20-years of automotive industry experience. In this interview, Dave discussed Asbury’s recent $1 billion acquisition and other trends in the buy-sell market in 2020…
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Jim Fitzpatrick: Hello, everyone. Thanks so much for joining me on another edition of CBT News today. We’re so happy to be joined by Mr. Dave Cantin. He is the CEO of Dave Cantin Group. These guys are experts in buy/sell and all things automotive. Right, Dave?
Dave Cantin: Good morning. Thank you very much. How are you today?
Jim Fitzpatrick: Doing great. Doing great. So inquiring minds want to know out there in the automotive sector, you’ve had some big ripples in the buy/sell market happening. Big splashes, I should say, with Asbury’s acquisition of Park Place. Talk to us a little bit about that before we get started on some of these other questions.
Dave Cantin: Let’s just start off by saying, wow, what an incredible acquisition. Asbury and their leadership executive team did a fantastic job, obviously, of getting that deal to the finish line.
Dave Cantin: I mean, what an incredible acquisition. What a way to end 2018. What a way to make such an incredible statement to the automotive industry. There is absolutely no fear in Asbury’s eyes. Great job to them.
Jim Fitzpatrick: For other auto groups that are witnessing this buy/sell go down, or I guess it’s going to actually go down in the first quarter of 2020, which is just weeks away right now, is it safe to say that if I’m doing $10 million a year in my business, it’s worth 10 times that today, and it’s worth $100 million?
Read the Complete Transcript at CBTNews.com
About Dave Cantin Group:
Dave Cantin Group (DCG) is a full-service M&A firm that manages the sale and purchase of automotive dealerships throughout the United States. With over $11.5 billion in collective dealer acquisitions and $3 billion in dealership listings, DCG is one of the world’s largest automotive dealership M&A firms. Dave Cantin personally has helped raise more than $150 million in the fight against pediatric cancer, and DCG is committed to donating a percentage of its revenue to the cause. DCG is headquartered in New York with regional offices in California, Florida, Illinois, New York, and Texas.