Accrual Equity Partners is bringing another experienced car guy into its fold.

The automotive industry private equity firm announced it has added James “JT” Taylor, who most recently led the Truist Securities automotive retail investment banking practice, as a managing partner.

AEP said Taylor will collaborate with its portfolio companies to drive growth, expansion, technology integration and operational, customer experience and financial improvements to create value for the businesses and investors.

He will also serve on AEP’s board of advisors and chair its investment committee.

“I have known JT Taylor for more than 20 years,” AEP founder and managing partner Brady Schmidt said, “and always admired his genuine passion for the automotive industry, impressive experience and, most of all, his integrity and shared values.

“As someone who has succeeded in every part of the industry he has touched, and understands the perspectives of manufacturers, dealers, consumers, vendors and investors, JT will be a valuable partner to our portfolio companies.”

Taylor’s long automotive career includes leadership roles in sales, manufacturing, dealership management and investment banking for mergers and acquisitions and other financial transactions.

Before building and leading Truist’s auto retail practice, Taylor helped plan the Lexus brand as a leader on the Toyota Motor Sales North America product planning team, as well as serving as an operating partner for dealerships, working with dealers for M&A firm The Presidio Group and advising Joe Gibbs Racing and Southeast Toyota Distributors, among other industry organizations.

“JT brings decades of investment banking expertise and a deep understanding of the automotive industry,” AEP founder and managing partner Jacob Tilzer said. “His addition strengthens our ability to execute complex deals, unlock new growth opportunities and continue building a leading platform in the automotive sector.”

Taylor said his new position is about helping entrepreneurs and businesses grow, create economic opportunities and contribute to the community, in an industry he called “critical” to driving the U.S. economy.

“Working in the car business was my dream since a young age, and I have been grateful to do so for nearly 40 years,” Taylor said. “Along the way, I have been fortunate to meet similarly passionate people, such as the team at Accrual Equity Partners, who have a vision of taking the automotive sector to the next level.”

Taylor AEP’s third major personnel addition in the past three months. In July, former Toyota Motor North America executive vice president and chief operating officer Jack Hollis was named managing partner to focus on investment, acquisition and partnership opportunities. Last month, Zach Kuzemka, former COO of global consumer and retail investment banking for Raymond James, was hired as CEO of dealership M&A advisory firm NBB, one of AEP’s flagship portfolio companies.

Hollis said adding Taylor is a win for AEP.

“Whether achieving success at one of the world’s premier automotive brands, operating successful dealerships of his own or guiding buyers and sellers through critical finance and M&A deals, the one constant has been JT’s passion for the industry,” he said. “His energy and desire to help others succeed make JT a phenomenal fit with our culture and companies.”