Tag: Primary

Harmless Fleet Acquires Industry Primary Police Car Upfitter Kerr Industries

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Safe and sound Fleet

BELTON, Mo., Sept. 08, 2022 (World NEWSWIRE) — Harmless Fleet, a major supplier of basic safety answers for fleet motor vehicles, has extended its upfit abilities to the regulation enforcement market place with the acquisition of Kerr Industries and its subsidiaries such as Crown North America, which are primary car or truck upfitters serving the unexpected emergency and law enforcement marketplaces.

Kerr and Crown are professionals in upfitting specialty cars for emergency and regulation enforcement markets. With upfit places in Toronto, Dallas, Detroit, and Chicago, they partner with OEMs and other quality automotive components and accessories makers to produce vehicles that are ready for responsibility, on time and on spending budget. For over 70 decades, Kerr and Crown have put together marketplace-foremost engineering, good quality and innovation with ideal-in-class solutions and fantastic services to supply cost-productive options to buyers.

“Kerr and Crown are a great match with Protected Fleet’s Law Enforcement portfolio, incorporating upfitting know-how in this vital market,” states John R. Knox, Safe and sound Fleet Chairman & CEO. “Their deep relationships with some of the most significant law enforcement businesses, OEMs and components manufacturers, established on a steadfast concentrate on the buyer working experience, have manufactured them the go-to car upfitter for regulation enforcement.”

Kerr and Crown insert upfit products and services to Safe and sound Fleet Law Enforcement’s existing in-auto video clip, entire body digital camera, and electronic evidence administration merchandise portfolio. They also increase Safe and sound Fleet’s network of skilled field installers and commercial car or truck assistance facilities, which will improved provide the wants of the Law Enforcement sector.

“We are psyched to be part of Protected Fleet,” states Steve Somerville, President, Kerr Industries. “Their guidance will enrich our capability to further devote in and provide on the innovation, purchaser target, and good quality workmanship Kerr has created our status on.”

The current Kerr management group will keep on to control the company put up-acquisition.

About Safe and sound Fleet

Headquartered in Belton, MO, Safe Fleet is the leading supplier of basic safety alternatives for fleet vehicles. Their greatest-of-breed intelligent answers sort an built-in basic safety system for fleets of just about every variety – College Bus, Transit, Hearth, EMS, Regulation Enforcement, Operate Truck, Truck & Trailer, Design, Agriculture, Squander & Recycling, Industrial and Armed service. With a wide portfolio of current market-foremost brand names, 1,800 workers, 15 production locations and 13 company facilities, Safe and sound Fleet carries on to innovate and deliver the smart safety alternatives that fleets require to survive and thrive in a switching world – and make sure that motorists, passengers, and every person all over them arrive home safely. Harmless Fleet is driving protection forward for today’s and tomorrow’s fleets. For additional information and facts go to www.safefleet.internet. Protected Fleet is a portfolio organization of Oak Hill Funds Companions.

About Kerr Industries
Proven in 1952, Kerr Industries is a primary specialty car or truck upfitter, delivering remarkably engineered, integrated solutions for

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David Rosenberg reaches $30 million settlement with Primary Automotive Group

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Massachusetts-centered Primary Automotive Team, owned by GPB Capital Holdings, reached a $30 million settlement with David Rosenberg, the company’s a person-time CEO.  

Rosenberg lives in Marblehead but oversaw dealerships in the course of New England, including two on Cape Cod. He was fired after blowing the whistle on GPB’s financial mismanagement, and in the approach, uncovering what could be a $1.8 billion Ponzi scheme.  

Rosenberg and his father, Ira, have deep roots and a storied heritage in the automotive marketplace in New England. Ira Rosenberg purchased his initially dealership in 1975, fashioned Ira Motor Group, bought it and then began Prime Motor Group with his son, David. The father-son duo grew the business to 20 dealerships in New England.  

In 2017, the Rosenbergs marketed a majority desire in Key Motor Group to GPB Holdings, an alternate fairness agency, for $235 million. But Rosenberg managed an possibility to sell his remaining fascination, which he tried using to acquire in 2019.   

The settlement very last 7 days cleared the way for GPB Capital Holdings to market Key Automotive Team, a person of the alternative investment firms’ companies. The Group includes 30 dealerships in the imid-Atlantic and New England region. 

Capture up on this tale:Auto dealerships, an financial commitment agency and an alleged $1.8 billion Ponzi scheme

Rosenberg experienced filed a civil lawsuit in Norfolk Outstanding Court docket in July 2019 claiming GPB had engaged in securities fraud, and that he was fired in retaliation for blowing the whistle on the alleged money irregularities. He tried to sell his shares in the corporation but submitted suit alleging he wasn’t thoroughly compensated for the sale. 

The $30 million settlement was great news for Rosenberg, however he couldn’t talk about the particulars of the settlement mainly because of a nondisclosure agreement.

“I’m pretty joyful about the settlement and I’m grateful that that is powering me now,” he mentioned in an job interview Monday.  

New homeowners:Copeland, Scarpellinni obtain Hyannis Chevy, Subaru dealerships

Rosenberg is now increasing a further car small business: He has 6 dealerships less than the DSR Motor Group umbrella. They include Canobie Lake Toyota and Canobie Lake Honda in Salem, New Hampshire Tri-Town Subaru and Tri-City Dodge, Jeep, Ram in Somersworth, New Hampshire: White River Subaru in White River Junction, Vermont: and Jack Chevrolet in Saco, Maine.  

“My father would say, ‘Congratulations. I’m satisfied for you. It is time to shift on,’” Rosenberg mentioned.  

In April, Todd Copeland and Bryan Scarpellinni obtained the Copeland Chevrolet and Copeland Subaru dealerships —  formerly Prime Chevrolet and Primary Subaru dealerships — on Ridgewood Avenue in Hyannis.

The dealerships had been owned by GPB Capital Holdings but when two top GPB  executives were indicted for fraud previously this calendar year, the Key Automotive Team dealerships went up for sale.

Contact Denise Coffey at dcoffey@capecodonline. Comply with her on Twitter: @DeniseCoffeyCCT.

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Ousted Primary Automotive CEO settles lawsuit for $30 million, clearing way for dealership sale

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Ousted Key Automotive Group CEO David Rosenberg has settled a extensive and contentious lawsuit in opposition to his previous employer, clearing the way for an $880 million sale of its 27 car dealerships in the Northeast, which include six in Maine.

Houston-primarily based Team 1 Automotive closed on its order of the dealerships on Wednesday, the exact day Primary Automotive signed a settlement agreement with Rosenberg for $30 million, according to media reports and a Group 1 Automotive information release.

Rosenberg’s father, the late Ira Rosenberg, founded the Prime Motor Group dealership chain in Maine, which later on became part of Prime Automotive in 2017. David Rosenberg was named main government of the expanded business, which is centered in Massachusetts.

But Rosenberg before long complained about money misdeeds he mentioned he uncovered and exercised an choice that allowed him to promote the remainder of his shares to the business. Prime Automotive then fired Rosenberg, and when it unsuccessful to entirely compensate him for his shares, he submitted go well with in Massachusetts.

Key Automotive has been swirling in controversy for several years, capped in February when executives linked with its parent corporation, New York-dependent investment decision agency GPB Cash Holdings, had been arrested and charged with fraud. David Gentile, the founder, operator and chief executive of GPB Funds Holdings Jeffry Schneider, the owner and CEO of Ascendant Cash and Jeffrey Lash, a previous taking care of spouse of GPB Capital, all have been arrested and charged.

According to the charging files, GPB Cash had instructed buyers that they would receive month-to-month distributions totaling 8 percent of their investment decision on a yearly basis, from the income of the dealerships. But in its place, prosecutors allege, some or most of the revenue in fact came from money that new investors had been depositing.

A scheme in which cash from more recent traders are utilised to pay back more mature traders is known as a Ponzi plan and is unlawful. It is named soon after Charles Ponzi, a con artist functioning in the United States and Canada in the 1920s who was caught perpetrating this sort of a scheme.

In all, about 17,000 people today invested just about $1.8 billion in GPB Capital, and cash from operations started falling quick of the sum desired to pay out the every month distributions in 2015. According to prosecutors, GPB Cash started utilizing new investors’ money to make up the shortfall at that issue, very similar to a Ponzi scheme, in which new investments enrich longer-phrase traders and the fund professionals.

Key Automotive also confronted strain from some automobile suppliers who reportedly signaled that they supposed to close their franchise agreements with some of company’s dealerships in Saco and in other places simply because they considered their contracts have been breached when David Rosenberg was fired.

Toyota and Volkswagen, in distinct, threatened to pull their franchise agreements unless the dealerships were marketed or Rosenberg reinstated.

That force delivered the impetus for the business to place

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