Press Release
November 18, 2019

Holland & Knight Represents Off Lease Only in Acquisition by Cerberus Capital Management

MIAMI (November 18, 2019) – Holland & Knight represented Off Lease Only, a leading used-car dealer, in the sale of a controlling interest to Cerberus Capital Management, L.P. Cerberus announced that it had acquired an 80 percent interest in Off Lease Only on November 15.

With four Florida retail locations and a robust online platform, Off Lease Only is one of the largest independent used-car dealers in the United States. The company offers an expansive selection of quality cars and has sold hundreds of thousands of vehicles worldwide.

Cerberus is a global leader in alternative investing with over $42 billion in assets across complementary credit, private equity and real estate strategies. The firm, which is headquartered in New York, has 21 offices around the world.

Holland & Knight’s representation of Off Lease Only was led by Partner Marc Druckman and Associates Anush Yegyazarian and Tonya Rodgers. They were assisted by Partners Kerry Kehoe, Barbara Yadley, Robert Warram, Bill Sherman, Victoria Zerjav, Dawn Rudenko and John Dierking, Of Counsel Beth Rothenberg and Associates Christopher Marotta and Eric Schlichte.

More information about the transaction can be found here.

Attorneys in Holland & Knight's Private Equity Practice act as trusted legal and business advisors to funds, portfolio companies, family offices, independent sponsors and other investors. In 2017 the practice, which has a mostly middle-market focus, launched HK Deal Flow®, a unique program that facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.

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