Holland & Knight Advises Beyer Auto Group on Sale of Majority of Dealership Assets to Open Road Capital
DENVER (October 15, 2024) – Holland & Knight represented Beyer Auto Group in its sale of a majority of its dealership assets to Open Road Capital, an automotive retail-focused investment firm backed by Bain Capital. The transaction closed on October 10.
Headquartered in Falls Church, Virginia, Beyer Auto Group is a family-owned automotive group with five dealerships across Northern Virginia. It was founded by the father of current U.S. Rep. Don Beyer (D-Va.) in 1973, and Congressman Beyer and his brother, Mike Beyer, purchased the company from their father in 1986. Congressman Beyer sold his stake to his brother in 2019.
Fairfax, Virginia-based Open Road Capital is a leading investment firm specializing in the automotive sector, committed to growth through strategic acquisitions and partnerships. Its portfolio includes a diverse range of automotive dealerships and luxury car boutiques.
Holland & Knight's representation of Beyer Auto Group was led by Partners Stephen Dietrich and Adam August. They were assisted by Partner Nicole Maron and Associates Anna Boyer and Nikolai Hood. Partners Kyla Baker and David Schneider and Associate Robert Erdman handled the real estate and land use components of the deal.
Holland & Knight has one of the most active automotive retail M&A practices in the country. Notably, late last year, the firm represented Virginia-based Jim Koons Automotive Companies in its $1.2 billion sale to Asbury Automotive Group (NYSE: ABG).
Recently recognized as the Private Equity Law Firm of the Year by the Global M&A Network, Holland & Knight regularly ranks among the leading M&A and private equity law firms in reputable, benchmarking league tables published by Bloomberg, LSEG, Mergermarket, PitchBook and The Deal. Through the HK Deal Flow℠ program, Holland & Knight facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.