Keeler Car Company acquires BMW of Ridgefield
RIDGEFIELD — A leading car dealership in town has come under new ownership.
This month, Keeler Motor Car Company, based in Latham, N.Y., acquired BMW of Ridgefield on Danbury Road. The acquisition marks the company’s first outside the New York capital region.
BMW of Ridgefield’s 50,000 square foot campus features a state-of-the-art showroom, service facility and vehicle-delivery center. The business has historically received awards for outstanding customer satisfaction, and consistently outpaces competitors in both new and used vehicle sales as its market’s biggest BMW-certified pre-owned dealer, according to a release.
Like Keeler, BMW of Ridgefield is a family-run business led by owner Ed McGill, who will stay on in a limited advisory capacity.
“I felt it was the right time and the right buyer,” McGill said of the sale. “The most critical factor was having someone like Jesse (maintain) the cultural fit with our associates and our customers.”
Jesse Hord, of Darien, is Keeler’s CEO. While he didn’t disclose the price of the transaction, he said the acquisition will add another $100 million to the company’s annual sales revenues, which are currently $300 million a year.
Keeler partnered with Washington, D.C.-based Open Road Capital, which holds a majority stake in the investment. Through its strategic partnership with Bain Capital, Open Road invests alongside top-performing dealership operators to support their various objectives, including growth, succession planning, diversification and liquidity.
“I’ve known Ed and his partner Mitch McManus for about seven years,” Hord said. “The facility and team in Ridgefield is unparalleled in the BMW world … and we will continue the same reputation that Ed has built up over the years.”
With Hord’s “strong financial backing,” McGill said, BMW of Ridgefield will be able to offer more opportunities for growth and support for its associates and customers. All 102 employees are expected to continue working at the dealership under the acquisition, Hord said.
“An important part of our role is serving the community,” he added, “and we look forward to working in Ridgefield.”
BMW of Ridgefield will join Keeler’s current franchises: Keeler BMW, Keeler Mercedes-Benz, Keeler Honda, Keeler Maserati, Keeler Alfa Romeo, Keeler MINI and Mercedes-Benz Commercial Vans.
The dealership is at 746 Danbury Road in Ridgefield.