Canada’s Alpha Auto Group expands within the U.S.
Canada’s Alpha Auto Group in November expanded its U.S. holdings into its second state with the acquisition of its first Mercedes-Benz retailer, in Fresno, Calif.
The transaction to purchase Mercedes-Benz of Fresno closed Nov. 22, with Scott Biehl and Triunity Automotive Group as sellers, stated George Karolis, president of Presidio Group, an funding banking and advisory agency primarily based in Atlanta and Denver. The agency represented the sellers within the transaction.
“We are thrilled to welcome our new Fresno teammates to the AAG family,” Alpha Auto Group stated in an announcement. “Adding Mercedes-Benz to our lineup has long been a goal of ours. We are excited to add the dynamic California market to our portfolio. It is a strategic addition and building block for our growth.”
The deal additionally included the sale of Central Valley Fleet Sales & Service in Fresno, a used-vehicle retailer and fleet service enterprise, to Alpha Auto, Karolis advised Automotive News in an e-mail.
Alpha Auto of Toronto, Ontario, entered the U.S. in 2018 with the acquisition Wilsonville Toyota and Wilsonville Subaru in Oregon. The group on its web site stated it’s trying to purchase single dealerships and supplier teams with as many 20 shops throughout Canada and the U.S.
Biehl stated he now not has any dealerships. In August, Triunity Automotive bought Jaguar-Land Rover Los Angeles to US Auto Trust, a dealership group led by Edward Glazer, an proprietor of the NFL’s Tampa Bay Buccaneers. Biehl was supplier principal of that retailer, and Presidio Group additionally represented him and Triunity Automotive in that sale.
Raymond acquires second new-car retailer
Gerry Raymond, president of Gerry Raymond Automotive, in October purchased his second new-car dealership, Gerry Raymond Chrysler-Dodge-Jeep-Ram of Brookville, in Western Pennsylvania.
Drew Picon, a managing director of DCG Acquisitions, a Dave Cantin Group firm, stated he represented each purchaser and vendor within the Oct. 27 transaction.
The promoting supplier was William J. Kelly of the previous Kelly Chrysler-Jeep-Dodge-Ram retailer.
Raymond made his first dealership acquisition in 2021, shopping for the previous Team Chevrolet-Buick-GMC, in Wintersville, Ohio, west of Pittsburgh. It was renamed Gerry Raymond Chevrolet-Buick-GMC. Another Dave Cantin Group firm, DCG Capital, facilitated that earlier buy, Picon stated.
Raymond participated in DCG Capital’s Ownership Accelerator Program, which helps managers and executives at franchised dealerships and used-car shops purchase their first new-vehicle retailer.
Capital for the Stellantis dealership acquisition was offered by Live Oak Bank and the client additionally was assisted by guide Biltmore Automotive Services.
Raymond, in a telephone interview, stated that for his second buy he sought a Stellantis dealership. “I already have Chevrolet-Buick-GMC, so I was looking to diversify myself, and my customers, with more brands,” he stated.
Brookville, Pa. is a rural market, Raymond stated, with the benefit of a big territory with few different dealerships round.
“With the surrounding areas, there’s so much business to be had and I think customers would really like to see somebody with a more aggressive approach like we have,” he stated. “There are not as many dealerships in close proximity, for a 40- or 50-mile radius.”
Kelly’s father, former auto business govt William S. Kelly, the previous CEO of Saab Cars USA Inc., served as an off-the-cuff adviser within the buy-sell negotiations, the son stated.
William J. Kelly stated the Chevrolet-Buick-GMC retailer was his solely dealership. Dealerships are in demand and the present vendor’s market was an element within the choice to promote, he stated.
“I’m going to retire — for right now,” Kelly stated, including “it was time” to promote.
Source: www.autonews.com
