Pastore LLC, as Co-Counsel with Skadden, Arps, Meagher & Flom LLP, is representing GPB Capital Holdings LLC in its $1+ billion sale of its automotive assets. Providing World Class Corporate Governance Advice, GPB and Skadden Arps tapped Pastore LLC to address a multitude of corporate governance issues to ensure that the dozens of GPB automotive entities were authorized to enter into the transaction. Working long nights and weekends, Pastore LLC was led by Managing Partner Christopher Kelly, a former Skadden Attorney, and a team of associates.
With Vinson & Elkins L.L.P as legal advisor to Group 1 Automotive, the transaction was signed the morning of September 13, 2021. The signing encompasses the agreement of Group 1 Automotive to purchase substantially all the automotive assets of GPB. GPB’s automotive portfolio generated $1.8 billion in annual revenues in 2020 while retailing over 52,000 new and used vehicles. This acquisition by Group 1 Automotive will provide the acquirer with 30 additional dealership locations and three collision centers, coupled with GPB’s extensive portfolio of luxury and non-luxury vehicles.