Los Angeles, CA (PRWEB) February 07, 2013
Pecunia Capital, a Los Angeles-based private investment company headed by Kent Steffes, announced today it has partnered with Bill Marker to fund the purchase of McConnell Chevrolet Buick in Gridley, Calif. The sale was completed on Jan. 18.
Marker, a 30-year veteran in the auto industry, has been named the general manager of the dealership, which is 60 miles north of Sacramento. The dealership has been renamed Marker Chevrolet Buick and Steffes will assume the role of Chairman of the Board and President.
“We are excited about this new partnership that marks Pecunia Capital’s first venture into the automobile industry,” said Steffes. “With the recent accolades bestowed on the Chevrolet and Buick brands we are delighted to become a member of the General Motors family. Bill has extensive automotive industry experience and a proven track record of success. I am confident that this new relationship will be beneficial and profitable for all parties.”
The auto industry is on an upward trajectory and General Motors in particular is leading the way. According to Paul Taylor, the chief economist of the National Automobile Dealers Association in a recent press release, “The sales momentum of new cars and light trucks established last year is likely to continue in 2013.”
“Coupling this momentum with an under-performing and unprofitable dealership we saw an opportunity for a financially successful investment,” Steffes added. “Our goal is to make Marker Chevrolet Buick one of the region’s top dealerships in terms of profitability. We will accomplish this by initiating best practices in sales and service along with an intense and aggressive local advertising and promotional effort. With Bill’s extensive background we will implement an expanded internet sales and marketing campaign to draw in customers from the greater Northern California area.”
For Marker, who began his career washing cars at Abel Chevrolet while still in high school, he worked his way up the corporate ladder holding a variety of dealership management positions. Later moving to the advertising and marketing side of the business, he most recently held the position as district sales manager for AutoTrader.com and Kelly Blue Book.
“It has been a lifelong dream to own a dealership and I am grateful for this opportunity to partner with Kent and Pecunia Capital,” Marker said. “With their extensive operational and financial resources I am confident we can grow this dealership into a thriving business.”
About Pecunia Capital, LLC:
Pecunia Capital LLC. is a Los Angeles-based private investment company managing a diverse portfolio of operating, financial and real assets. Their focus is on increasing the value of assets while creating mutually prosperous relationships for all business partners. Throughout their
history and during various economic cycles, the firm has maintained sustainable profitability using a disciplined and transparent investment process. Olympic Gold Medalist and Stanford MBA Kent Steffes founded the company in 2003.
Pecunia Capital provides financial and operational services on projects of varying sizes, with the goal of helping guide their partners' projects through each growth and fundraising stage. More information is available at http://www.PecuniaCapital.com or by calling: 310-991-5368.
Marker Chevrolet Buick is located at 1646 State Highway 99, Gridley, CA 95948. They can be reached by phone at (530) 797-4349 or on the web at http://www.MarkerChevroletBuick.com.