Haig Partners Advises New Country Motor Car Group on Strategic Dealership Divestiture
Haig Partners LLC, a nationally recognized buy-sell advisory firm specializing in automotive retail transactions, served as the exclusive financial advisor to New Country Motor Car Group in the sale of three prominent dealerships: Lexus of Westport, Toyota of Westport, and Audi Hawthorne. The acquiring party was Jesse Hord of Keeler Motor Car Company, alongside his capital partner, Open Road Capital. The transaction represents a significant portfolio realignment for New Country and highlights continued strength in the automotive dealership buy-sell market. The Lexus and Toyota dealerships are located along Connecticut’s affluent “Gold Coast,” while Audi Hawthorne operates in Westchester County, New York—another high-income market situated just outside New York City. These locations are widely regarded as prime automotive retail territories due to their demographic profile, strong luxury demand, and resilient consumer base.
Strategic Capital Reallocation to Core Growth Markets
According to Jared Cantanucci, President of New Country Motor Car Group, the sale was driven by a strategic decision to redeploy capital into one of the company’s highest-priority regions: the Washington, DC metropolitan area. Cantanucci emphasized that the move was not a retreat from the brands involved in the transaction, but rather a focused reallocation of resources to maximize long-term growth and operational scale. New Country continues to view Lexus, Toyota, and Audi as strong and desirable franchises and remains committed to investing in these marques within its core markets. In fact, the company recently expanded its footprint in Washington, DC, through the acquisition of five luxury dealerships representing Audi, BMW, Jaguar-Land Rover, and Porsche. This expansion underscores the company’s ongoing appetite for high-volume luxury and import dealerships in strategic metropolitan areas where it can leverage infrastructure, leadership, and brand expertise.
A Disciplined and Confidential Advisory Process
New Country credited Haig Partners with guiding the transaction through a structured and confidential process designed to protect stakeholder interests while identifying a highly qualified buyer. Cantanucci expressed appreciation for the advisory team, including Alan Haig, Derek Garber, and Markus Haig, noting that the transaction involved multiple complexities requiring experience and careful judgment. Rather than a straightforward asset sale, the process required coordination among multiple stakeholders, brand considerations, market positioning factors, and negotiation of terms aligned with both parties’ long-term objectives. Haig Partners’ disciplined approach ensured competitive interest while maintaining confidentiality, ultimately delivering a well-capitalized buyer aligned with the seller’s expectations. New Country conveyed satisfaction with the final outcome and extended congratulations to Jesse Hord and Open Road Capital as they assume ownership of the dealerships.
A Legacy Automotive Group with Multi-State Presence
Founded in 1983, New Country Motor Car Group has built a reputation as one of the most established dealership organizations in the United States. The group currently owns 26 dealerships spanning Connecticut, Florida, Maryland, New York, Pennsylvania, and Virginia. Its portfolio includes an array of luxury and import brands such as Audi, BMW, Ferrari, Jaguar-Land Rover, Lexus, Mercedes-Benz, MINI, Porsche, and Toyota. Over four decades, the company has demonstrated disciplined growth, strong brand relationships, and consistent operational performance across diverse regional markets. The decision to divest three high-performing dealerships reflects a portfolio optimization strategy rather than a reaction to operational weakness, reinforcing New Country’s proactive management philosophy.
Portfolio Optimization Beyond Underperforming Assets
Alan Haig, President of Haig Partners, described New Country as one of the premier automotive retail groups in the industry and highlighted the strategic sophistication behind the divestiture. He noted that many dealership groups consider selling only underperforming stores, but forward-thinking organizations recognize that portfolio optimization can also involve divesting profitable assets when market conditions and valuation levels are favorable. By selectively reallocating capital, dealer groups can strengthen their balance sheets, enhance geographic concentration, and pursue higher-growth opportunities. Haig emphasized that the Lexus and Toyota franchises were expected to attract significant buyer interest due to their strong profitability metrics, durable consumer demand, and collaborative manufacturer relationships.
Brand Strength Drives Buyer Demand
Within the current retail automotive landscape, Lexus and Toyota remain two of the most sought-after dealership franchises in North America. Both brands are known for consistent profitability, strong customer loyalty, and operational efficiency. Their high profit-per-location performance and long-standing manufacturer-dealer partnerships enhance their appeal in the buy-sell market. Audi, while facing temporary headwinds associated with tariffs and macroeconomic factors, remains positioned for renewed momentum as new product launches enter the market. Haig indicated that Audi’s upcoming product cycle is expected to strengthen the brand’s competitive position, reinforcing its long-term desirability among investors and dealer groups.
Active Buy-Sell Market Conditions
The broader dealership acquisition environment remains highly active, driven by sustained dealership profitability and strong buyer appetite. Haig observed that dealership valuations are currently near historic highs, encouraging more sellers to explore strategic transactions. The confluence of robust demand from expanding dealer groups and a growing supply of available assets has created favorable market conditions. Buyers with access to capital are actively seeking high-quality franchises in attractive markets, particularly luxury and import brands in affluent metropolitan regions. This environment benefits well-capitalized acquirers and disciplined sellers who can execute transactions under advantageous terms.
Buyer Perspective and Cooperative Execution
Jesse Hord of Keeler Motor Car Company expressed satisfaction with the transaction process, attributing its smooth execution to the professionalism of Haig Partners and the cooperative engagement of the Cantanucci family. Hord’s acquisition, backed by Open Road Capital, represents a strategic expansion within attractive Northeastern markets. The involvement of an experienced capital partner further demonstrates the growing role of private investment groups in dealership acquisitions, particularly for high-value, brand-diverse portfolios. Eric Chelline of Open Road Capital echoed Hord’s sentiments, describing the transaction as cohesive and collaborative, facilitated by shared professionalism and familiarity among all parties involved.
Continued Consolidation in Automotive Retail
This transaction reflects broader consolidation trends across the automotive retail industry. As dealership groups scale operations across multiple states and brands, strategic acquisitions and divestitures have become increasingly common. Capital markets remain supportive of dealership transactions due to the sector’s historically strong cash flow generation, real estate value, and manufacturer franchise protections. Well-established advisory firms such as Haig Partners continue to play a critical role in guiding both buyers and sellers through complex negotiations, valuation assessments, and manufacturer approval processes.
Strengthening Core Markets Through Focused Investment
For New Country, the divestiture aligns with a disciplined strategy centered on geographic concentration and operational scale in select core markets. By focusing on Washington, DC, and other targeted metropolitan areas, the company can deepen brand representation, streamline management oversight, and leverage marketing synergies. Concentrated market presence often enhances negotiating leverage with manufacturers, improves cost efficiencies, and strengthens brand identity within local communities. The recent acquisition of five luxury dealerships in the DC region underscores New Country’s commitment to growth in markets where it sees long-term demographic and economic advantages.
Outlook for the Automotive Retail Landscape
As dealership profits remain resilient despite broader economic uncertainties, investor interest in automotive retail assets continues to grow. The sector’s adaptability, combined with evolving consumer purchasing behaviors and digital retail advancements, positions leading groups for sustained performance. Transactions such as the sale of Lexus of Westport, Toyota of Westport, and Audi Hawthorne illustrate how experienced dealer groups strategically recalibrate portfolios to align with future growth objectives. With valuations near peak levels and acquisition appetite remaining strong, the buy-sell environment is expected to remain dynamic in the near term.
The successful completion of this transaction reinforces the importance of strategic planning, disciplined execution, and experienced advisory guidance in navigating today’s automotive retail market. Both seller and buyer emerge positioned for continued growth, with New Country strengthening its focus on priority regions and Jesse Hord alongside Open Road Capital expanding their presence in affluent Northeastern markets.
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