Wheels just got a big push forward — in part from one of America’s largest dealership groups.

The fleet management company last week received what it termed “a significant minority investment” from mega-retailer Lithia & Driveway and Japan’s Marubeni Corp.

Marubeni has been investing in the U.S. automotive sector since 1958, the companies said in a news release. Currently, Marubeni’s portfolio includes businesses focused on consumer auto finance, refrigerated trailer rental and leasing, and short-term commercial vehicle rentals. Wheels said Marubeni will enables further access to diversified funding channels through its longstanding relationships in Japan.

Lithia operates more than 300 dealerships in the U.S., Canada and the U.K.

Wheels CEO Shlomo Crandus called Lithia and Marubeni represent “highly sophisticated” investors.

“Our clients are always at the heart of everything we do, and that will continue as we innovate and grow with Marubeni and Lithia,” he said. “While Wheels operates as a fleet management company today, the legacy business began in 1939 from an auto dealership, so we have a deep appreciation for the world-class business that Lithia has built and its dedication to customer satisfaction. We look forward to the strategic partnership and collaborative thinking with both Marubeni and Lithia.”

Wheels said the transaction is expected to close in the third quarter of 2024.

Victory Automotive Group adds California BMW store

Victory Automotive Group expanded its holdings with the acquisition of BMW of Humboldt Bay in McKinleyville, Calif., from Reza Lankarani, according to Performance Brokerage Services, which advised on the sale.

The dealership is the first BMW franchise for Victory, which operates more than 50 locations in 10 states. The company was founded in 1997 by president Jeffrey Cappo, who runs the business works along with sons Eric and Michael.

Lankarani had owned and operated BMW of Humboldt Bay since 2006.

Longtime Massachusetts dealership sold

A longstanding Massachusetts dealership changed hands as Todd Copeland, Glenn Hoffman, and Dawson Luke of Copeland Auto Group acquired Durand Chevrolet in Hudson, Mass.

Durand Chevrolet was established in 1949 by the Durand family and moved to its current location in 1990.

Copeland Auto Group now operates five dealership locations in Massachusetts, representing Chevrolet, Subaru and Toyota. John Copeland began the enterprise with his first dealership in 1970, and his son Todd is the current dealer principal.

The dealership will be renamed Copeland Chevrolet Hudson and will remain at its current location.