Monday, 13 September 2021 15:21

LMP to Acquire 85% Interest in Alan Jay Automotive Network in Florida


...one pre-owned center and 21 new vehicle franchises: one Buick, one Cadillac, two Chevrolet, one GMC, two Chrysler, two Dodge, two Jeep, two Ram, two Ford, one Lincoln, one KIA, one Nissan, one Toyota, one Maserati and one Alfa Romeo.

“This acquisition, combined with our previously announced acquisitions, brings LMP’s total franchise and dealership count to 51 and 35, respectively, with consolidated annualized revenue, adjusted EBITDA and adjusted EBITDA per share run rate expected to be approximately $1.6 billion, $104 million and $9.32, respectively," said Sam Tawfik, LMP’s CEO. “I also would like to welcome Alan Jay Wildstein and his team to the LMP organization. We are honored to have Mr. Wildstein as regional vice president of LMP."


LMP plans to continue to promote and recruit the best of breed talent within our organization as well as externally in these record setting times, while maintaining operational excellence and impressive earnings growth.


Wildstein is a seasoned executive in the automotive industry with nearly three decades of experience, currently serving as a director and past chairman of the Florida Automobile Dealers Association.


Wildstein has been CEO of Alan Jay Automotive Network from 1992 to present, which has been long regarded as one of the region’s largest community partners, sponsoring and donating to hundreds of organizations, events and individuals every year.


Wildstein holds a BBA from Northwood University in Michigan. Awards given to Wildstein and the Alan Jay Automotive Network include Business Leadership Award, Time Magazine Quality Dealer Award, Dealer of the Year Award and Sebring Chamber of Commerce Business of the Year. Wildstein was honored as one of six Ford dealers globally to win the 2017 Salute to Dealers recognition, selected and presented by the Ford family.


Source: LMP Automotive Holdings, Inc.


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