Holland & Knight Helps Franchise Equity Buy Georgica Auto Stake

Holland & Knight Helps Franchise Equity Buy Georgica Auto Stake

Holland & Knight advised Franchise Equity Partners on the New York-based investment firm's purchase of a minority share for $70 million in Georgica Auto Holdings, an automotive retail group with 23 franchises in the US Northeast.

Georgica dealerships represent brands from Volkswagen Group, Porsche Cars North America, General Motors, BMW Group, Jaguar Land Rover, Stellantis, Toyota USA, American Honda, and Subaru of America. They account for more than 20,000 new and used vehicle sales annually, totaling more than $1 billion in revenue, according to a statement.

Created a year ago, Franchise Equity Partners is an independently operated portfolio company of certain funds and accounts managed by HPS Investment Partners. It supplies large-scale franchise owners with capital and in-house financial expertise while allowing them to retain full control of their operations, the statement said.

Holland & Knight said partner Stephen Dietrich and associate Lacey Croy led the transaction for Franchise Equity Partners. They were assisted by partner Mark Melton and associate Ross Tuminello.

Laurence Smith of New Jersey-based law firm Chiesa Shahinian & Giantomasi PC represented Georgica.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com