The Dave Cantin Group Continues Spitzer Auto World’s Brand Expansion with the Acquisition of Axelrod Buick GMC
Since 2020, DCG Has Grown Spitzer Auto World’s Portfolio with Eight New Brands and 12 Franchises
NEW YORK, August 17, 2023--(BUSINESS WIRE)--The Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company specializing in the automotive industry, announced today the successful sale of Axelrod Buick GMC to Spitzer Auto World. The dealership, located in Parma, Ohio, will be renamed Spitzer Buick GMC.
DCG has advised Spitzer Auto World since 2020 and helped the automotive group acquire five businesses encompassing 13 rooftops and eight brands. The Axelrod acquisition expands its GMC and Buick brand platforms, representing the fourth and third additions, respectively.
"We consider DCG a strategic advisor and continue to work with them because of their holistic approach to sourcing and managing deals," says Andrew Spitzer, COO of Spitzer Auto World. "DCG also ensures we have developed a solid plan for seamless integration of our newly acquired dealerships into our portfolio."
George G. Spitzer founded Spitzer Auto in 1904 in Grafton, Ohio. Today, Alison and Andrew Spitzer are the fourth generation to lead the auto group with dealerships throughout Monroeville, Pittsburgh, Murrysville, Cleveland, Akron, Canton, Mansfield, and Youngstown, Ohio.
"Relationships like the one we have with Spitzer truly yield the best results for our clients," says Dave Cantin, President and CEO of the Dave Cantin Group. "As a full-service M&A advisory company, we are able to support our clients’ acquisition or divesture strategies and, in this case, ensure we’re finding a great asset for them while also bringing a highly qualified buyer to our seller."
"When the decision for us to sell arose, finding the perfect buyer for our family-owned and -operated dealership since 1979 was essential. That's why we partnered with the Dave Cantin Group," says Barry Axelrod, owner of Axelrod GMC. "DCG's long-standing relationship, and ability to connect us with Spitzer Auto World guarantees that our dealership will not only continue to grow, but the highest level of customer service expected will continue to be delivered."
Drew Picon, Managing Director of the Dave Cantin Group, represented both buyer and seller on this transaction.
About The Dave Cantin Group
The Dave Cantin Group (DCG) is a leading M&A advisory company serving North American dealer-driven businesses including automotive, motorcycle, powersports, heavy trucks, and recreational vehicles across a broad cross-section of services. It caters to specific financial, transactional, and advisory needs of its clients on the buy-sell side of the M&A process. Through its media division, DCG produces the #1 downloaded automotive podcast, Dealer News Today. The company's nonprofit partner, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide through its support of the Children’s Oncology Group. For more information, please visit www.davecantingroup.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20230817802783/en/
Contacts
Media
Nick Mitsis
nmitsis@percepture.com
