MSD Capital L.P. and Jeff Rachor Partner in New Automotive Retail Venture
MSD Capital L.P., the private investment firm for Michael Dell and his family, and automotive retail industry veteran Jeffrey Rachor announced Monday a partnership to form MSD Automotive Partners LLC, which will own and operate car dealerships across the United States.
NEW YORK and CHATTANOOGA, Tenn. -- MSD Capital L.P., the private investment firm for Michael Dell and his family, and automotive retail industry veteran Jeffrey Rachor announced Monday a partnership to form MSD Automotive Partners LLC, which will own and operate car dealerships across the United States.
Rachor will serve as chief executive officer of MSD Automotive, which will operate from Chattanooga, Tenn.
Rachor has spent nearly three decades in the automotive industry. Prior to partnering with MSD Capital, he served as president, CEO and a member of the board of directors of Pep Boys. From 1997 to 2007, He has served in a variety of roles at Sonic Automotive Inc., including president and a member of the board of directors. From 1983 to 1997, Rachor served in executive and managerial roles with the Bowers Transportation Group, American Suzuki Motor Corp., and GM's Buick Motor Division.
"As the former president of Sonic Automotive, a Fortune 300 company and the third largest automotive retailer in the United States, he has successfully built and operated major businesses in this industry...we at MSD are thrilled to partner with Jeff in this new venture," said Howard Berk, a partner at MSD Capital.
Founded in 1998, MSD Capital exclusively manages the capital of Michael Dell and his family. The firm manages more than $12 billion in assets and has a diverse portfolio consisting of private investments, real estate and investments in publicly-traded securities.
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