Fuccillo sells Kia store to Morgan Automotive & more dealer buy-sell moves
Fuccillo Automotive Group has sold its Fuccillo Kia of Clermont dealership in the Orlando, Fla.-area to Florida-based Morgan Automotive Group, according to a news release from Kerrigan Advisors, which represented Fuccillo in the sale.
Morgan Automotive Group has 53 Florida dealerships throughout Tampa, Gainesville, Ocala, Lake City, Jacksonville, Sarasota, Naples, Fort Myers, Brandon, New Port Richey, Orlando and surrounding areas.
“Florida dealerships are among the highest volume and most profitable in the nation,” Kerrigan Advisors vice president Gabe Robleto said in a news release. “Given that fact, we were humbled to once again advise the Fuccillo family, this time on the Fuccillo Kia of Clermont transaction. We’re proud of the work we’ve done in helping the family monetize over 30 years of dedication, hard work and community investment.”
Company founder and managing director Erin Kerrigan said: “Representing the Fuccillo organization again was a real honor. Demand for dealerships remains at record high levels given the industry’s robust profitability and attractive business model. Kerrigan Advisors expects 2022 to be at or above 2021’s record level for transactions, as valuations remain high and dealers continue to allocate record amounts of capital to acquisitions.”
Next up, Geaux Automotive Group has purchased Hatcher Chevrolet Buick GMC in Brownsville, Tenn., from Donnie Hatcher, according to a news release from Performance Brokerage Services.
In another deal involving that brokerage firm, the company announced that Hummel’s Nissan of Des Moines, Iowa has been sold to Willis Automotive.
Owner Mark Hummel said in a release, “Paul Kechnie of Performance Brokerage Services was instrumental in getting the deal to the finish line. He was able to provide detailed insight as to what would be expected. Through the selling process, he was attentive, responsive, and always available. I am very happy with the transaction and services provided by Paul and Performance Brokerage Services.”