June 23, 2021

LMP Automotive Holdings, Inc. Announces “As a Courtesy to Those Analysts and Investors Who Were …

  • Upon closing and combined with our currently contracted acquisitions, LMP’s revenues are expected to exceed $2.2B on an annualized basis in 2021, with approximately $70M in pre-tax income and expected net income of $4.59 per share, which would likely make LMP a newcomer to the Fortune 1000 list of companies with over 1,600 employees;
  • Real estate leased with an option to purchase;
  • Expands its world class management team;
  • Unique New York dominant platform with accelerating organic year-over-year annualized income growth of over 20%;
  • Significant increase in online-originated orders with efficient touchless delivery and lower SG&A costs associated with the online and fulfillment elements due to Atlantic’s concentrated, clustered presence in New York along with its logistics network;
  • Atlantic Central Storage has storage capacity of approximately 7,000 vehicles in New York and operates a fleet of 15 multivehicle car transporters with capacity to efficiently transport approximately 5,800 vehicles a month on
Read More

LMP Automotive Holdings agrees to purchase majority stake in N.Y. dealership group for $608 million

The deal includes 20 franchises at 17 rooftops, all in New York. The Atlantic dealerships and storage facility are expected to generate an estimated $1.6 billion in revenue and $38 million in net income on an annualized basis in 2021, LMP said. The deal will be partially financed, which includes seller financing, and funded through company cash. The group will retain ownership of the real estate, which LMP will lease for five years, Staluppi Sr. said.

“It’s a good opportunity for them; it’s a good opportunity for my people,” Staluppi Sr. said. “None of my business will change. All of the employees stay in place. I’m still the boss.”

If all of the acquisitions LMP announced this year close, including Atlantic Auto Group, LMP’s 26 rooftops will represent 33 franchises: five Toyota, two Lexus, three Honda, one Subaru, six Hyundai, three Genesis, three Kia, four Chevrolet, two GMC, two Cadillac

Read More

LMP Automotive Holdings To Buy 70% Stake In Atlantic Automotive Group, Atlantic Central Storage

(RTTNews) – LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

CFO Evan Bernstein said, “This acquisition is expected to add an estimated $1.6 billion in revenue, $38 million in net income, or $3.18 per share, on an annualized basis in 2021, combined with our currently contracted acquisitions which we expect to close beginning the end of next month and the following months.|

The company expects revenues post-closing to exceed $2.2 billion, generating about $55 million in net income

Read More

LMP Automotive Holdings, Inc. Announces Entry Into a Definitive Agreement for the Acquisition …

  • Upon closing and combined with our currently contracted acquisitions, LMP’s revenues are expected to exceed $2.2B on an annualized basis in 2021, with approximately $70M in pre-tax income and expected net income of $4.59 per share, which would likely make LMP a newcomer to the Fortune 1000 list of companies with over 1,600 employees;
  • Real estate leased with an option to purchase;
  • Expands its world class management team;
  • Unique New York dominant platform with accelerating organic year-over-year annualized income growth of over 20%;
  • Significant increase in online-originated orders with efficient touchless delivery and lower SG&A costs associated with the online and fulfillment elements due to Atlantic’s concentrated, clustered presence in New York along with its logistics network;
  • Atlantic Central Storage has storage capacity of approximately 7,000 vehicles in New York and operates a fleet of 15 multivehicle car transporters with capacity to efficiently transport approximately 5,800 vehicles a month on
Read More