Eric Chelline

Open Road Capital assembled a team of long-term auto professionals to form a new player in the dealership arena to investing equity capital in automotive retail. As partners with Bain Capital Credit, we seek to deploy approximately $1 billion into the sector. We will invest as little as $20 million into a transaction and there is no practical upper limit to the size of transaction we will support. We will purchase up to 100% of a group of stores in partnership with another dealer, but prefer to own no more than 70% of a partnership with our partners who oversee the stores. We will invest and hold a minority stake as well. Open Road has a long-term outlook and is structured as an "evergreen" entity, allowing us to stay with our partners indefinitely or structure an eventual sale back to our partners. Our approach has been embraced by most of the leading OEMs.