Six dealers swapped fingers in 5 separate trades during the first, second and third quarters.

Here’s a look at deals involving dealerships and import and home stores in Texas, Louisiana, Oregon and Minnesota.

Acquisition of McGavock Auto Group dealer after failed sale to LMP

One of McGavock Auto Group‘s Texas dealerships that was to be included in a failed sale to auto retailer LMP Automotive Holdings Inc. has been sold to a separate owner.

On June 1, Steve McGavock and his son Brent McGavock of McGavock Auto gifted McGavock Nissan Abilene to Dillon Clark and his companions Trey Patterson, William Sparks and Richard Traweek, Dillon said.

The store was renamed Clark Nissan of Abilene and is Dillon’s first dealership.

LMP in September 2021 announced plans to purchase 4 Nissan dealerships in Abilene, Amarillo, San Marcos and Lubbock and an Infiniti retailer in Lubbock from Steve McGavock, Principal of McGavock Auto.

The agreement was terminated on January 31, and LMP said McGavock would retain the $1.5 million deposit made by LMP for the stores, in accordance with the terms of the contract.

“After they pulled out, we reached out to a dealer to ask them to contact them,” Dillon said. Automotive Information.

That dealer was Chris Cobb, general manager of the western United States for buy-sell agency SAR Companions of Lake Mary, Fla., Dillon said.

Dillon said he worked for Patterson at his Nissan dealership in Longview, Texas, before spending two years overseeing Ford and Hyundai dealerships in Manhattan, Kansas for Patterson. These two shops were finally offered in June 2021 by Patterson and two companions to Max Motors dealers.

It was “six years to the day after I started promoting automobiles [that] we bought that retailer,” Dillon said.

Dillon said he was able to retain 95% of the dealership’s employees and was considering expanding.

Giles Automotive acquires first Hyundai dealership

Giles Automotive Inc. of Lafayette, Louisiana acquired its first Hyundai dealership in June when it bought M&M Hyundai in Alexandria, Louisiana, about 90 miles north of Lafayette.

Salesman Bob Giles, president of Giles Automotive and 2022 Time Vendor of the Year, now has 5 dealerships in Louisiana and one in Texas.

The dealership was renamed Giles Hyundai.

Giles is majority owner and principal seller of the Hyundai dealership, while Ryan LeBlanc, president of Giles Automotive, said he has a minority stake in the Hyundai dealership.

“Alexandria is a market with varied potential, and the Hyundai model is booming and has a ton of potential,” LeBlanc said in a cellphone interview.

The transaction closed on June 13, LeBlanc said. The sellers were dealer president and majority owner Oliver McMickens and his sons, normal supervisor Ricky McMickens and service supervisor Mark McMickens.

LeBlanc said it was the only dealership in the family business.

The sons held minority stakes in the dealership, according to the agenda of a July 11 Louisiana Motor Car Fee meeting to approve a corporate ownership and name change application for Giles Hyundai.

Time Auto expands in Oregon

Time Auto Group bolstered its presence in Oregon last month with the acquisition of its first retailer Stellantis.

On August 18, Time Auto bought Gresham Chrysler-Dodge-Jeep-Ram from Boyland Auto Group CEO Dorian Boyland and his partner Daniel Kaiser. The dealership was renamed Chrysler-Dodge-Jeep-Ram of Gresham. Gresham is east of Portland, where Time Auto is based.

“We came into this year and we didn’t really have any mergers and acquisitions in our forecast,” Time Auto CEO Daniel Crainic said. Automotive Information. “But there have been some pretty big changes that have happened there. It’s been an incredible time for us to amass phenomenal assets and I’ve never been very enthusiastic about Time Auto Group and our pipeline.

The acquisition is Time Auto’s first since June 2021, when it bought a Subaru retailer and a Honda dealership in southern Oregon, Crainic confirmed. The group also owns Volvo, Nissan and Mitsubishi stores, as well as a used-vehicle dealership that focuses on European luxury manufacturers, all located in Oregon.

Crainic celebrates that it is open to growth outside of Oregon.

“Overall, I’m very dedicated to developing the top line, but also very dedicated to developing the bottom line,” Crainic said. “And we will continue to do so while being able to participate in this M&A environment.”

The Gresham Dealer was the primary retailer Boyland purchased, according to Efficiency Brokerage Companies Inc., a buy-sell agency in Irvine, California. Moshe Stopnitzky, president of Efficiency Brokerage Companies, and Jason Stopnitzky, co-founder of the company, handled the transaction.

Boyland is a former MLB participant who was drafted by the Pittsburgh Pirates in 1976. He spent seven years with the Pirates group, which included the Portland Beavers, a minor league affiliate.

It was there that Boyland met Ron Tonkin, the late founding father of the Ron Tonkin Household of Dealerships in Portland, who owned the Beavers. Boyland joined Tonkin’s group, and in the mid-1980s Tonkin acquired a Dodge dealership in Gladstone, Oregon, and Boyland was appointed head salesman and gained a stake. Boyland then offered its stake in the Dodge store in Tonkin and purchased Gresham Dodge, under a 2011 contract. Automotive Information article.

Boyland Auto became one of the largest black-owned dealership teams in the country, and Boyland operated 22 dealerships in six states, according to performance brokerage firms.

The Gresham dealership was Boyland’s final in Oregon, Jason Stopnitzky confirmed, noting that Boyland still has two dealerships in Wisconsin and one in Florida.

Billion Automotive buys three dealerships in Minnesota

Billion Automotive of Sioux Falls, SD, purchased three Minnesota dealerships in March and April, as well as Ford, Stellantis and Chevrolet stores, all from Marthaler Auto Group, in accordance with The globe.

Billion Automotive purchased Marthaler Ford of Worthington, Marthaler Chrysler-Dodge-Jeep-Ram of Worthington, and Marthaler Chevrolet of Worthington. Worthington is east of Sioux Falls.

The group rebrands the stores as Billion Ford in Worthington, Billion Chrysler-Dodge-Jeep-Ram in Worthington and Billion Chevrolet in Worthington.

Ford and Stellantis dealerships offered on March 23, while the Chevrolet retailer closed on April 8, in accordance with The globe. A Ford spokeswoman confirmed the Ford dealer transaction date.

The dealerships are the only Billion Automotive dealerships in Minnesota. Billion Automotive has over a dozen different dealerships in South Dakota and Iowa.

Marthaler Auto lists six dealerships in Michigan, Minnesota and Wisconsin on its website.

Previous

man convicted of drug trafficking | USAO-PR

Next

Lamborghini among luxury cars at center of Roscommon dealership legal inquiry

Check Also