DHG Discusses SPACs With Automotive News

DHG Advisory Partner, Louis Mannello, and DHG Assurance Partner, Jon Hansen, spoke with Automotive News about the surge of special purpose acquisition companies (SPACs) among franchised dealerships, particularly those with 20 stores or more. SPACs, or “blank check companies,” are public companies that have been organized, registered with the Securities and Exchange Commission, and raised public funds with the intent of ultimately acquiring an operating company, typically within a two-year period.

The wave of inquiries about SPAC acquisitions has continued from 2020 into 2021 among DHG’s clients in the automotive industry, in addition to many in high-growth industries such as technology and life sciences. While potential SPAC targets must weigh the complex challenges and advisory requirements associated with going public through a SPAC acquisition, including accounting and finance considerations needed for the new entity to operate as a public company, Louis Mannello discusses how the influx of money makes the opportunity hard to ignore.

Continue reading more in the Automotive News article, “In SPACs, Dealers See Viable Option to Go Public,” to learn how SPACs are poised to influence dealership consolidation. (Subscription required)


Louis Mannello
Accounting & Financial Reporting Leader


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