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, 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 informed 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 vendor teams with as many 20 shops throughout Canada and the U.S.
Biehl mentioned he 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 vendor 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, mentioned he represented each purchaser and vendor within the Oct. 27 transaction.
The promoting vendor 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 mentioned.
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 customer additionally was assisted by marketing consultant Biltmore Automotive Services.
Raymond, in a cellphone interview, mentioned 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 mentioned.
Brookville, Pa. is a rural market, Raymond mentioned, 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 mentioned. “There are not as many dealerships in close proximity, for a 40- or 50-mile radius.”
Kelly’s father, former auto trade government 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 mentioned.
William J. Kelly mentioned 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 mentioned.
“I’m going to retire — for right now,” Kelly mentioned, including “it was time” to promote.
Source: www.autonews.com
