DEALERSHIP BUY/SELL

This marks a return to dealership ownership in Michigan for Penske. Penske said the dealership would add about $100 million in annual revenue. 

This marks Fox Motors’ entry into metro Detroit and is the first Jaguar-Land Rover dealership for the group. 

These are the first U.S. dealerships for Knight Automotive. Performance Brokerage Services handled the transaction. The Bruncati family was advised by lawyer Les Chayo in Beverly Hills, Calif., and Knight Automotive by David Meyer at the Arent Fox law firm. 

These are Ed Morse Automotive’s first dealerships in Illinois. Jennifer Rafael of Dealer Solutions Mergers and Acquisitions represented Roy in the transaction.

Nancy Phillips Associates handled the transaction. 

Bill Scrivner and Mike Sims of Pinnacle Mergers and Acquisitions represented the sellers.

Corwin Automotive Group had a purchase agreement to buy the stores. But through Wes Hamilton and Mike Sims of Pinnacle Mergers & Acquisitions, Corwin found a new buyer, Wood Motor, which was assigned to buy the dealerships.

These are Bennett Automotive’s first Buick, GMC, Honda and Hyundai franchises. Rob Lee of Tim Lamb Group represented the sellers in the transaction.

This is Fowler’s 10th dealership and fourth store in Colorado. Hugh Morris of Dealer Support Network represented the buyer in the transaction. 

These are Hudson Automotive’s first Mercedes-Benz dealerships. Bill Scrivner and Mike Sims of Pinnacle Mergers & Acquisitions represented Peterson Automotive.

This is Castle Automotive’s first Volkswagen dealership. Jennifer Rafael of Dealer Solutions Mergers and Acquisitions represented the buyer in the transaction.

Jefferies brokered the transaction. 

Chase had an undisclosed partner as a seller. Chase remains dealer operator and retained an undisclosed ownership percentage in the dealership. Haig Partners represented the seller in the transaction. R.J. McConnell of the Bose McKinney & Evans law firm and Jane Saxon and Craig Todderud of Somerset CPAs advised the seller, while lawyer Brian Nolen and DHG Dealerships advised the buyer. 

Alan Haig, president of Haig Partners, represented AutoFair in the transaction.

Dealership names continued: Vernon Chrysler-Dodge-Jeep-Ram, all in Texas; Honda of Jefferson City, Hyundai of Jefferson City, Nissan of Jefferson City, all in Missouri; Dave Smith Chrysler-Dodge-Jeep-Ram and Dave Smith Chevrolet-Buick-GMC, both in Kellogg, Idaho; Dave Smith Frontier Sales and Leasing, an Alfa Romeo-Maserati dealership in Coeur D’Alene, Idaho; Jordan Ford, Jordan Lexus of Mishawaka, Jordan Toyota, all in Mishawaka, Ind.; Enchanted Mazda and Toyota of Santa Fe, both in Santa Fe, N.M.; and Dave Smith Nissan of Spokane in Washington

The $950.2 million transaction included the 22 franchised dealerships and also 11 used-only stores in Washington, Idaho and Montana. Investment bank Lazard was Sonic’s financial adviser in the transaction, while investment bank Cowen was RFJ Auto’s financial adviser.

Nancy Phillips Associates handled the transaction.

 Kerrigan Advisors represented Continental Motors in the sale. The Akerman law firm advised the seller in the transaction. 

Performance Brokerage Services handled the transaction. James Barone of the Ferruzzo & Ferruzzo law firm advised Perry Automotive. The Law Office of Jason B. Cruz advised Mehandroo.

The transaction did not include the Lincoln or Mazda brands. CliftonLarsonAllen represented Sexton in the transaction.

Bill Scrivner and Mike Sims of Pinnacle Mergers and Acquisitions represented the sellers. Keating did not use a broker.

All of the dealerships are in Colorado. Asbury said the acquisition, which also includes a Land Rover open point, will add about $715 million in annual revenues. Stevinson President Kent Stevinson will stay to work on real estate projects with Asbury, while another Stevinson owner, Paul Stevinson, will remain general manager of the Chevrolet dealership. Kerrigan Advisors represented the seller in the transaction. 

Presidio Group represented the seller in the transaction. Daniel Minkus of Clark Hill law firm was legal counsel to the seller, while Steven Dietrich of Holland & Knight law firm advised the buyer.

Lawyer Peter Bauer advised Luke Lake on the purchase.

The transaction also included a collision center and medium-duty truck franchise. This marks West Herr’s 32nd location and fourth Chevrolet dealership.

Hicks Management & Consulting Group represented the sellers in the transaction. 

Bob Morris of Tim Lamb Group represented the seller in the transaction. 

Robert Elder is joining Lithia to help with network development. Lithia said the transaction will add about $425 million in annual revenue. 

This is West Herr’s 31st dealership location and fourth Ford store. 

King is managing partner of the Honda dealership and has an ownership interest in the store. Brian Brown and Tony Karabon of DCG Acquisitions, a Dave Cantin Group company, handled the transaction.

Jefferies was a financial adviser, while the Skadden, Arps, Slate, Meagher and Flom law firm and Akerman law firm were legal advisers to the seller.

Bill Scrivner and Wes Hamilton of Pinnacle Mergers & Acquisitions represented the seller in the transaction. 

Kerrigan Advisors represented the seller in the transaction.

Old Name continued: Porsche Westwood, Prime Mazda-Westwood, BMW of Norwood, Volkswagen of Norwood, South Shore BMW in Rockland, Prime Volvo Cars South Shore in Rockland, South Shore Mini in Rockland, Prime Buick-GMC in Hanover, Land Rover Hanover, Mercedes-Benz of Hanover, Prime Ford-Auburn, Prime Honda-Boston in West Roxbury, Prime Honda 128 in Reading, all in Massachusetts; Mercedes-Benz of Manchester in New Hampshire; World Chrysler-Dodge-Jeep-Ram in Shrewsbury, N.J., World Subaru in Tinton Falls, N.J., Bill Kolb Jr. Subaru in Orangeburg, N.Y., Staten Island Buick-GMC and Rockville Centre GMC in New York.

New Name continued: Ira Buick-GMC in Hanover; Ira Ford Auburn, Ira Honda in West Roxbury, Ira Honda 128 in Reading, all in Massachusetts; all others remaining unchanged.

Jefferies was a financial adviser, while the Skadden, Arps, Slate, Meagher and Flom law firm and Akerman law firm were legal advisers to the seller.

Mike Sims of Pinnacle Mergers and Acquisitions handled the transaction. 

Performance Brokerage Services handled the transaction.

The dealership sells Chrysler, Dodge, Jeep and Ram brands. Arenson Law Group of Cedar Rapids, Iowa, represented the Kruegers in the transaction.

Bill Scrivner and Mike Sims of Pinnacle Mergers and Acquisitions represented the sellers. Keating did not use a broker.

Performance Brokerage Services handled the transaction. 

Presidio Group represented Qvale in the sale. Stephen Dietrich and Sarah Seedig of Holland & Knight represented Lithia as its legal counsel in the transaction. Alex Kurkin of Kurkin Forehand Brandes represented Qvale as its legal counsel in the transaction.

All stores are in Maryland. The transaction includes three collision centers. AutoNation said the group would add $420 million in annual revenues. Kerrigan Advisors represented Priority 1 in the transaction. Stephen Dietrich of Holland & Knight law firm and Freddie Traub of Friedman & Friedman law firm were legal counsel to Priority 1. 

Generational Equity represented the seller in the transaction. 

AutoCanada, a publicly traded Canadian auto retailer with stores in the U.S. under Leader Automotive Group, said the acquisition would add $72 million in annual revenue.

Mike Sims of Pinnacle Mergers and Acquisitions represented Burkholder in the transaction.

Bayway moved the Cadillac store to a nearby facility.

The Gaston Gazette newspaper reported the sale. 

John Ozog of Ozog Co. handled the transaction. 

Ramos will be general manager of both stores.

Tank is the store’s general manager. Wade Micoley represented the seller in the transaction.

Chris Fitzgerald, the store’s general manager and partner in the dealership, is staying with Hudson Automotive. Mike Sims of Pinnacle Mergers & Acquisitions represented Dyer in the transaction.

This is Karl Malone Auto Group’s first franchised dealership in Idaho.

Yemm still owns Chrysler-Dodge-Jeep-Ram and Chevrolet-Buick-GMC dealerships in Galesburg. Don Brown of Midwest Brokerage represented the seller, and Hal Feder of Murphy Business and Financial Corp. represented the buyer in the transaction. 

Brian Brown and Tony Karabon of DCG Acquisitions, a Dave Cantin Group company, handled the transaction.

Joe Beaver and George Pero of DCG Acquisitions, a Dave Cantin Group company, handled the transaction.

This is Ganley Auto Group’s third Toyota store and 45th dealership. No brokers were used in the transaction.

Lawyer Malcolm Mussina advised the buyer in the transaction.

Gordon Wisbach Jr. of GW Marketing Services represented the buyers in the transaction. 

Performance Brokerage Services handled the transaction.

 Gordon Wisbach Jr. of GW Marketing Services represented the seller in the transaction. 

Kyle Chase and Jennifer Rafael of Dealer Solutions Mergers and Acquisitions handled the transaction.

Dick Pryor of Tim Lamb Group represented the seller in the transaction. 

Drew Picon and Brian Brown of DCG Acquisitions, a Dave Cantin Group company, handled the transaction. 

Ralph Vines of Advanced Dealership Management Solutions brokered the transaction. 

Wierzchowski is the operating partner of the dealership, according to The Spokesman-Review.

Dick Pryor of Tim Lamb Group represented the seller in the transaction.

Bill Scrivner and Mike Sims of Pinnacle Mergers & Acquisitions represented the buyer in the transaction.

Presidio Group advised the seller in the transaction. J. Eric Gregory of Gregory Law firm advised the seller and James Redding of Greenberg Traurig law firm advised the buyer. 

Cushman & Wakefield Dealership Capital Services advised the sellers.

The transaction marks a return for Sonic to the four brands. The group previously had Chrysler-Dodge-Jeep-Ram brand stores but sold all of them between 2008 and 2012, a Sonic spokeswoman said.

Michael Shanahan of VLT Brokerage represented the seller in the transaction. 

Dick Pryor of Tim Lamb Group represented the seller in the transaction.

The dealership sells Toyota, Mercedes-Benz and BMW brands. 

Note: The transaction closed the week of Oct. 11, 2021. 

Tim Lamb Group represented the seller in the transaction.

This is Feldman’s first Ford dealership. Feldman partnered with Hall of Hall Automotive Group in Michigan and Cicotte, owner of Spirit Ford in Dundee, Mich.

Gary Russo of Team Russo brokered the transaction. 

LMP bought an 85 percent stake in the dealership. Grant remains dealer operator and joins LMP as a regional vice president. National Business Brokers brokered the transaction.

This is Steet Ponte’s seventh new-vehicle dealership and first Nissan store, according to its website. The group is owned by Steve Ponte and Joe Steet Sr. Brian Traugott and Brian Brown of DCG Acquisitions, a Dave Cantin Group company, handled the transaction.

These are Morgan Auto’s first Audi, Porsche and Maserati dealerships. Morgan Auto now has 53 dealerships. Neither party used a broker in the Reeves Import Motorcars transaction.

This is Silverleib’s second dealership. GW Marketing Solutions, a dealership brokerage firm in Newton Centre, Mass., represented Silverleib in the transaction.

This is Sewell Automotive Cos.’ 18th dealership and second BMW store. Presidio Group represented Sewell in the transaction.

Performance Brokerage Services handled the transaction.