Roundtree Automotive Group LLC and Lantern Capital Partners LP have formed Roundtree Capital Partners LLC, which will focus on buying car dealerships in the U.S. No financial terms were disclosed.
DALLAS–(BUSINESS WIRE)–Roundtree Automotive Group LLC (“Roundtree”) today announced that it has formed a long-term partnership with Lantern Capital Partners LP (“Lantern”), a middle-market private investment firm headquartered in Dallas, TX. Roundtree Capital Partners LLC will focus on the acquisition of high-quality automotive dealerships throughout the United States.
Roundtree is the holding company for retail franchises of automotive-related companies extending from California to Louisiana. The formation of Roundtree Capital Partners represents a continuation of a focused approach to acquisitions and building relationships across the automotive industry. Roundtree’s acquisition strategy is to partner with local entrepreneurial dealership managers who maintain minority equity ownership and have a desire to significantly improve performance.
“We are a relationship-driven company, and this joint venture with Lantern represents a new and meaningful chapter in the legacy of productive partnerships on which my father founded the company,” said Matt Stinson, CEO of Roundtree. “Lantern is a company built and founded on an entrepreneurial vision that closely mirrors our culture at Roundtree, which is why Lantern is the optimal partner for our long-term and sustainable growth.”
“Roundtree is an industry leader, and has been for generations,” said Andy Mitchell, CEO and Managing Partner of Lantern Capital Partners. “We want to keep that going, while providing additional financial, advisory and operational resources. Our partnership with Roundtree is the culmination of our mutual desire to further the legacy of the Stinson family with strategic acquisitions in the automotive industry.”
About Roundtree Automotive Group
Roundtree Automotive Group LLC, formed in 1985, is the holding company for franchises of retail automotive related companies. Roundtree Automotive Group is made up of a variety of stores across the nation with nearly a billion dollars in revenue. Consistently recognized as one of the top 100 dealer groups in the country, Roundtree’s corporate headquarters are in Dallas, TX, with an office in Shreveport, LA.
About Lantern Capital Partners
Lantern Capital Partners LP is a middle-market private equity firm whose principals have a long history of investing in and contributing to the growth of businesses across a wide-range of industries. The firm is headquartered in Dallas, TX, with its affiliate Lantern Asset Management LP, which together have managed assets and/or invested capital for private and institutional investors since 2010.