ALPHA AUTO GROUP EXPANDS
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, mentioned George Karolis, president of Presidio Group, an funding banking and advisory agency based mostly 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 mentioned in a press release. “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 instructed 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 mentioned it’s seeking to purchase single dealerships and seller teams with as many 20 shops throughout Canada and the U.S.
Biehl mentioned he now not has any dealerships. In August, Triunity Automotive offered 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 seller principal of that retailer, and Presidio Group additionally represented him and Triunity Automotive in that sale.
Source: canada.autonews.com
