“This proven team has generated strong results through multiple economic cycles, and we look forward to providing the resources and latitude to support their continued success. “We are excited to partner with the extended Herrin family, Reed Howell, and the quality management team assembled at Herrin-Gear,” said Eric Chelline, Partner at Open Road Capital. This approach preserves the entrepreneurial spirit that drives great operators, augmented by capital and other support that accelerate growth and scale in today’s competitive environment. Each investment will be made in partnership with a dealer/operator, and the stores of each dealer/operator will reside within a separate partnership and operate independently from other platform investments. Open Road Capital will also purchase dealerships outright from dealers seeking a complete exit, including dealers who would like to see their legacy continue through sales involving their current General Managers or group of managers. The primary mission of the platform is to partner with high-performing dealer groups nationwide by providing equity capital in support of family member and business partner ownership transitions, recapitalizations and estate planning, growth and acquisition opportunities, or a combination. “Open Road Capital’s deep industry knowledge and expertise, along with their familiarity with our business, makes them the ideal strategic partner for our team as they seek to take Herrin-Gear to the next level.” Partnering with Open Road Capital will allow Herrin-Gear to pursue new opportunities while maintaining the legacy and culture built over the past 50 years,” said Herrin, who will maintain an equity stake and continue to serve on the Company’s Board of Directors. “This transaction reflects a major milestone for our family and for our business. As part of the transaction, General Manager Reed Howell has been elevated to President of Herrin-Gear and has acquired an equity stake in the business.

Management will continue operations consistent with those that propelled the dealerships to among the top performers in the region. The business has remained family-operated under the leadership of Jack Herrin since 1998.

Founded in 1968 by Carl Herrin and George Gear, the Herrin-Gear portfolio includes BMW, Chevrolet, Infiniti and Lexus dealerships in Jackson, MS. The first investment is in Herrin-Gear Autoplex (“Herrin-Gear”), a premier family-owned and operated automotive dealership group.

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