DCG Acquisitions Closes on Sale of Lithia Motors’ Carbone Nissan to Steet Ponte Auto Group
Automotive Acquisitions Industry Leader Continues Best Year In History
(New York, New York – October 5, 2021) DCG Acquisitions, a Dave Cantin Group company,(DCG) closed on Lithia Motors’ Carbone Nissan by Steet Ponte Auto Group, now Steet Ponte Nissan, located in Central New York. This is the latest acquisition closed on by DCG, adding to the industry forerunner’s record-setting year. This is the 5th closing in two weeks.
Lithia Motors is one of the largest providers of personal transportation solutions in the U.S. and is among the fastest growing companies in the Fortune 500. With the broadest coast-to-coast automotive retail network in the U.S., Lithia reaches 92% of consumers with its expanding physical network and digital conveniences.
The Steet Ponte Auto Group has been in business for more than 65 years, starting with United Auto Sales of Utica. Founded in 1945, United Auto, first owned by two local brothers, Joseph G. and Thomas Steet, and is now in its third generation of local owners and operators, father and son Joseph A. and Joseph T. Steet. With the addition of Nissan, the Steet Ponte Auto Group now has 8 locations across Central New York.
“Working with both multi-generational local buyer Steet Ponte Auto Group and acclaimed seller Lithia Motors was a great experience brought about by our group’s unmatched knowledge, ingenuity, creativity, and superb customer service, said Dave Cantin, Founder, and CEO. “Our team’s persistence and ever-growing expertise in closing acquisitions that benefit both parties are why the DCG group has smashed its record in closing securing legacies this year at an unprecedented pace.”
Brian Traugott facilitated the Lithia Motors/Steet Ponte Auto Group transaction.
Brian Traugott has a wealth of experience in sales operations, marketing, and sales backed by his blend of analytical and people skills that have delivered results in everything he has done. Having worked in multiple industries prior, his start in automotive was with General Motors before managing major metro markets on both coasts of the U.S., and field operations in the Northeast region. Brian has a unique perspective on automotive buy/sell transactions, having led GM’s Northeast region’s activation and termination process from wind-down to start-up of the stores.
Recent DCG transactions include the acquisition by industry leader Ken Garff Enterprises of Ron Carter’s Cadillac and Ron Carter’s Hyundai, renamed as Big Star Cadillac and Big Star Hyundai located in Texas; Long Island, New York-based Atlantic Automotive Group, owned by John Staluppi Sr. – Lexus of Route 110 and Lexus of Rockville Centre – recently sold to the Len Stoler Automotive Group. DCG also represented the sale of two more Lexus dealerships in California, Lexus of Oxnard and Lexus of Santa Barbara, purchased by Ken Garff Automotive Group from Lithia Motors. DCG are experts in analyzing valuations of a dealership’s worth and specializes in representing platform acquisitions, overseeing multiple dealerships within an individual asset. Other transactions include Ron Carter Cadillac and Ron Carter Hyundai, now Big Star Cadillac and Big Star Hyundai in Texas, as well as Mercedes Benz of Billings, Montana, sold by Rimrock Auto Group, and Roy Robinson Subaru to Kendall Auto Group.
About Dave Cantin Group:
Dave Cantin Group (DCG) is headquartered at the prestigious Rockefeller Center in New York City, with additional offices nationwide. DCG encompasses three full-service areas, DCG Mergers & Acquisitions and DCG Capital specializing in automotive acquisitions, capital services for automotive dealers, succession planning, and managing the sale and purchase of automotive dealerships. DCG’s team has collectively closed billions in dealership automotive mergers and acquisitions. DCG is one of the world’s largest automotive dealership M&A firms assisting automotive owners in growth recapitalizations, business transfers to financial or strategic buyers, and management buyouts. DCG supports a company’s growth by providing buy/sell opportunities and identifying potential to expand geographic territories. In addition, Dealer News Today is a partnership between the Dave Cantin Group and Cox Automotive. The Dealer News Today Podcast Series hosted by Derek D is on the cutting edge of automotive news where the focus is 100% providing auto content and insights dealers need today and require for success tomorrow. DCG Gives Back: The Dave Cantin Group is committed to donating a percentage of all of DCG Acquisitions’ revenues to a charity that fights childhood causes in the acquired dealership location.