Three vendor teams expanded with purchases from a single retailer and an proprietor who buys his second retailer in first and second quarter transactions.
This is a have a look at offers involving home and import sellers and shops in Texas, Michigan, Oklahoma and Maryland.
Star Household of Dealerships buys Ford retailer
Star Household of Dealerships in Texas expanded final month with the acquisition of a Ford dealership.
The group, owned by Mike Dunnahoo and Tracy Gilliam, purchased Massive Spring Ford in Massive Spring, Texas, on June 28, in line with DCG Acquisitions, a Dave Cantin Group firm that dealt with the transaction. Tony Karabon of DCG Acquisitions was the dealer.
The dealership was renamed Star Ford of Massive Spring. Massive Spring is west of Abilene, the place the Star Household of Dealerships is positioned, in line with its web site.
The group bought the shop from Ford & Son’s Auto Buyers LLC. That is the holding firm of former RFJ Auto Companions Holdings Inc. CEO Rick Ford.
Massive Spring Ford was the one vendor not included in Sonic Automotive Inc.’s buy of RFJ Auto in December.
Ford beforehand stated automotive information that RFJ Auto Companions already had an settlement to promote Massive Spring Ford previous to its sale settlement to Sonic. Ford is now government vice chairman of RFJ Auto platform operations at Sonic.
Star Household of Dealerships now has 4 franchised dealerships, in line with its web site. It has a Stellantis retailer in each Abilene and Massive Spring, in addition to a Hyundai dealership and used automobile retailer in Abilene.
Glassman Automotive grows
Glassman Automotive Group elevated its import model presence within the Detroit metro space with the acquisition of its first Mitsubishi retailer.
Glassman Automotive purchased Artwork Moran Mitsubishi in Southfield, Michigan, from vendor Tom Moran on March 1, in line with Michael Glassman, group vice chairman.
Southfield, the place Glassman Automotive is predicated, is north of Detroit. The dealership, which moved close by, was renamed Glassman Mitsubishi.
“We’re very excited to choose it up and transfer issues ahead,” Glassman stated.
Glassman Mitsubishi joins the group’s Subaru, Kia and Hyundai-Genesis shops, all of that are positioned roughly one mile south of the Artwork Moran Mitsubishi dealership.
In 2017, the group bought a former Toys R Us retailer positioned subsequent to its Subaru dealership and ultimately transformed it into an indoor used automobile hub.
The Mitsubishi franchise is in that facility for now, however Glassman stated the group plans to ultimately construct a separate constructing for the Japanese model.
Jay Hatfield provides retailer in Oklahoma
Jay Hatfield Auto Group bought Bob Hart Chevrolet in Vinita, Okla., in line with Paul Kechnie, the dealer who represented Hart within the sale.
Jay Hatfield Auto bought the Chevrolet dealership on Could 5 when Bob Hart retired.
The dealership was renamed Vinita’s Jay Hatfield Chevrolet. Vinita is northeast of Tulsa.
The Jay Hatfield group has 5 franchise dealerships in Kansas, Missouri and now Oklahoma, in line with the group’s web site.
“Bob was seeking to retire, and we might been speaking for a few years on and off and I’ve performed enterprise with Jay Hatfield previously and located him to be a beautiful man and a beautiful purchaser,” Kechnie, associate at Efficiency Brokerage Providers Inc. , a shopping for and promoting agency in Irvine, California, stated automotive information. “So when Bob Hart and I began speaking, I urged we go straight to Jay Hatfield and see if he’d like to purchase the shop.”
Kelly provides Chevrolet vendor
Rick Kelly purchased Douglas Chevrolet in Hancock, Maryland, from Steve Douglas on March 28, Kelly stated. automotive information.
He modified the title of the shop to Hancock Chevrolet.
Kelly additionally owns and is a principal vendor for Hagerstown Ford in Maryland. That retailer is a part of the family-owned King Auto Group in Gaithersburg, Maryland.
Kelly stated she purchased the Chevy retailer on her personal since it is so near Hagerstown Ford.
“I am not a mega-dealer or something like that, so I wanted to search out one thing that was fairly priced and shut sufficient that I may deal with it with my present administration group,” Kelly stated. “And Hancock Chevrolet is 25 miles from Hagerstown Ford.”
Kelly stated he additionally purchased a used automotive dealership in Berkeley Springs, W.Va., from Douglas.
He stated that Douglas determined to promote his shops due to his age. Kelly stated after the sale that he’s centered on recovering from the COVID-19 pandemic and bettering gross sales.
“We have made cash each month and I am very proud of the progress,” Kelly stated.