Lee Auto Malls, Maine’s largest car dealership group by volume, said it has named a new equity partner.
Tom Santospago is now the fifth equity partner in the Topsham-based dealership group — and just the third partner not named Lee.
Santospago joins a small ownership group made up of Chairman Adam Lee, President Don Lee, CEO John Isaacson and executive partner Bill Menke.
The privately held company was founded in 1936 and has 14 locations.
“As the general manager of our Topsham Toyota and Nissan dealerships, Tom has overseen two dealerships that are considered among the best in New England by their respective manufacturers,” Adam Lee said in a news release. “He has been an integral part of our success over the past 13 years and we are very pleased to welcome him as a partner in our business.”
Santospago, 58, started in the car business in 1983 as a salesperson in Framingham, Mass. He has been with Lee since 2009. Santospago oversaw the construction of the current Lee Toyota facility in 2012 and has molded the dealership into a nine-time Toyota President’s Award winner. He and his family live in Freeport.
Santospago will continue to oversee Lee Auto Malls’ operations in Topsham.
He will also have a new role, the company said, in helping to “optimize the performance” of the larger Lee Auto Malls entity and its seven new-car dealerships and seven used-car stores.
“Tom has an excellent understanding of all aspects of the business and is very well respected at all levels of the organization,” Lee said. “He has forged strong relationships with our manufacturers, other dealerships in New England, and with our many vendors, making him a terrific addition to our ownership group.”