Presidio also joined with automotive-focused venture capital company Fraser McCombs Capital of Boulder, Colo., to create Next Auto Capital. Next Auto is an investment vehicle that will focus on acquiring a controlling interest in companies that serve auto retail and the consumer mobility space, said Cobb and Chase Fraser, managing partner of Fraser McCombs.
Fraser said Next Auto is funded by automotive dealerships and others in the auto industry and will invest in dealership vendors, aftermarket companies and collision-related businesses. He expects Next Auto Capital to complete its first transaction this year.
Several companies expanded geographically last year, such as Tim Lamb Group, a buy-sell company in Columbus, Ohio. The group expanded into Canada in 2019 with offices in Toronto and Edmonton, Alberta, and is looking to add locations in British Columbia and Quebec as more dealership transactions happen across the U.S.-Canada border.
Tim Lamb Group has eight locations in the…