Based in Philadelphia, Pennsylvania, Asbury Automotive Group was formed in 1995 as a joint venture between Freeman Spogli and Ripplewood Holdings to invest in automotive dealerships.  Asbury offered customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.  In 2002, Asbury Automotive Group completed an initial public offering (NYSE: ABG).  Freeman Spogli realized its investment in Asbury Automotive Group through public market transactions from 2006 to 2009.