Riviera Investment Group has acquired a minority stake in LMP Automotive Holdings, an ecommerce platform for buying, selling and financing used cars. No financial terms were disclosed.
Miami, FL – March 6, 2018 – Riveria Investment Group, a New York-based private equity firm, today announced it has made a minority investment in LMP Automotive Holdings, Inc. Terms of the investment remain undisclosed.
About LMP Automotive Holdings, Inc.:
LMP is an e-commerce platform for buying, selling and financing late model pre-owned automobiles. Through the Company’s platform, consumers can research and identify a vehicle, obtain financing and warranty coverage, purchase a vehicle and schedule delivery or pick-up all from their desktop or mobile devices. Renowned for their ability to engage in fruitful relationships, Riveria has known LMP’s founder and CEO, Sam Tawfik, for over a decade. Mr. Tawfik is a serial entrepreneur with over 3 decades of success in the technology, finance, banking and statistical science landscapes. With the online automotive space poised for a displacement, the well-seasoned LMP team has the capability to propel the Company to new heights.
About Riveria Investment Group:
Riveria Investment Group, headquartered in New York, NY, is a growth focused private equity firm that acquires and invests in middle-market companies based in the United States. Riveria primarily focuses on growing companies with a history of positive operating cash-flows and seeks transactions that present unique investment opportunities in industries experiencing significant growth. Riveria’s private equity efforts emphasize growth and value-added strategies to generate strong returns. Riveria actively engages in the operations of portfolio companies by collaborating with management and implementing executive operating partners to grow its investments. Riveria Investment Group’s website is: www.riveriagroup.com