Elite Auto Centre represents a rare opportunity to acquire an established, premium-positioned pre-owned dealership in one of Canada’s fastest-growing markets—with professional management committed to ensuring a seamless transition.
Elite Auto Centre is a family-built, professionally-managed pre-owned vehicle dealership that has operated on Kelowna’s “Car Row” for over 25 years. With $24M+ in annual revenue across three integrated business lines—retail vehicle sales, a full-service department, and F&I products—Elite has earned a 4.9-star reputation through exceptional service backed by an unwavering commitment to integrity. The company owns its 13,000 sq ft facility on 1.3 acres of prime commercial real estate, operates 10 service bays with capacity for expansion, and employs a stable team averaging 10+ years tenure. Co-founder Greg Gaspari has already stepped back from daily operations, while co-founder Korey Gaspari is actively training his successors and committed to ensuring a smooth transition. For a strategic buyer with wholesale inventory access, this acquisition unlocks immediate synergies while providing a platform for Okanagan market expansion.
In 1999, Greg and Korey Gaspari saw an opportunity in automotive exports to the United States. They started small, operating from a single location while learning the business from the ground up. By 2001, they had acquired a six-bay service shop. By 2002, they were serving local retail customers.
Then came the pivotal moment.
In 2004, the brothers purchased a prime parcel of undeveloped land on Enterprise Way—Kelowna’s “dealership row”—nestled between the franchise stores. They built their flagship facility from the ground up and brought all operations under one roof.
Over the next two decades, Elite expanded methodically: adding service bays (2008), acquiring adjacent land for inventory (2010), building out a customer lounge and offices (2012), adding staff facilities (2022), and completing a full showroom renovation (2025). Each investment was purposeful. Each expansion was earned.
Elite Auto Centre is not a used car lot.
From day one, the Gasparis made a deliberate choice: they would compete on service excellence, not volume. Every vehicle is certified and backed by Elite’s in-house warranty. Every customer interaction reflects the integrity that defines the culture. The result is a business where exceptional service translates directly to customer loyalty and premium positioning.
The proof is in the results:
This is not a commodity business waiting to be discounted. This is a brand that commands premium positioning—and deserves a premium multiple.
The business is not owner-dependent. Professional management runs day-to-day operations. Korey’s transition commitment provides runway for integration, knowledge transfer, and relationship continuity—at a pace that works for the buyer.
Elite is already executing on growth initiatives:
These organic initiatives position Elite to generate $1.3M in Adjusted EBITDA—and to reach $1.8M or greater under strategic ownership that unlocks our full potential.
Kelowna is one of Canada’s fastest-growing mid-sized cities. Population growth, migration from Vancouver and Alberta, YLW airport expansion, and a thriving tourism economy create a secular tailwind for automotive retail. Elite is positioned to capture that growth.
This is a clean deal.
For buyers concerned about transition risk, this structure de-risks the acquisition.
Elite’s historical 3-year weighted average EBITDA of approximately $1.0M provides a conservative anchor—what the business has proven it can deliver.
At approximately 5x EBITDA, buyers achieve ~15% annual returns on a 10-year cash recovery basis—before any growth initiatives or synergies. This is based on historical earnings alone.
If organic growth initiatives push EBITDA to $1.3M, returns climb to ~22%. With full inventory synergies driving EBITDA toward $1.8M, returns exceed 30%.
For strategic buyers, consider what you’re actually paying for go-forward earnings:
Based on entry at 5.0x historical EBITDA ($5.1M OpCo purchase price).
| Scenario | Go-Forward EBITDA | Effective Multiple |
|---|---|---|
| Historical (status quo) | $1.02M | 5.0x |
| Base / Organic growth | $1.33M | 3.8x |
| Strategic (inventory synergies) | $1.81M | 2.8x |
Combining OpCo and PropCo, total enterprise value falls in the $10M–$15M+ range, depending on buyer type and synergy realization. This reflects OpCo at 3.5x–5.5x on historical through strategic scenarios, plus owned real estate (~$5.8M pending updated appraisal).
This is not a used car lot priced at 2x EBITDA. This is a premium dealership with owned real estate, professional management, ~15% baseline returns, and significant upside for strategic buyers who can unlock synergies.
We are seeking a strategic buyer who: