Larry H. Miller Dealerships’ footprint in Albuquerque, N.M. is now seven locations as the company announced its acquisition of Mark’s Casa Chevrolet and Mark’s Casa Chrysler Jeep.
The company will rename Mark’s Casa Chevrolet as Larry H. Miller Casa Chevrolet. Mark’s Casa Chrysler Jeep will become Larry H. Miller Casa Chrysler Jeep.
The acquisition also includes two collision centers, which the company will name as Larry H. Miller Collision East and Larry H. Miller Collision West.
Larry H. Miller Dealerships has operated in Albuquerque since 1988.
The company purchased the stores from Mark Wiggins and partners and will retain the existing employees at the stores. That will bring the total number of New Mexico-based personnel to more than 700 employees at seven dealership locations.
“As we approach 32 years of doing business in Albuquerque, we’re excited to add additional high-performing stores to our family of dealerships,” Larry H. Miller Dealerships president Dean Fitzpatrick said in a news release.
Fitzpatrick continued, “The team at Mark’s Casa have built a strong brand and reputation over the years. We look forward to welcoming their employees to our group and continuing with our vision to be the best place in town to work and the best place in town to do business.”
Larry H. Miller Dealerships now operates 65 locations under 20 different automotive brands in seven Western states. The company started out in 1979 with a single dealership in Murray, Utah.
Larry H. Miller Casa Chevrolet and Larry H. Miller Collision East are located at 7201 Lomas Blvd. NE. Larry H. Miller Casa Chrysler Jeep and Larry H. Miller Collision West are located at 9733 Coors Blvd. NW.
“When the time came for my family and I to move on to the next phase of our lives, we considered all alternatives to carry on the ideals and values of Mark’s Casa Auto Group for the community of Albuquerque, our customers and our employees,” said Wiggins, who is the owner of Mark’s Casa Auto Group.
Wiggins continued, “Larry H. Miller Dealerships was hands down the only choice to achieve these objectives. We are proud to become a part of this great organization with its long history in our community.”
The company also noted that through Larry H. Miller Charities, it has donated more than $700,000 to qualified nonprofit organizations throughout Albuquerque since 1996.
Larry H. Miller Dealerships also shared a timeline of its New Mexico dealerships, as listed below:
— 1988: Larry H. Miller Dealerships opened its first Albuquerque location, Larry H. Miller American Toyota Albuquerque
— 1994: Larry H. Miller Toyota Albuquerque opens
— 1997: Larry H. Miller Hyundai Albuquerque opens
— 2003: Larry H. Miller Southwest Hyundai Albuquerque opens
— 2009: Larry H. Miller Chrysler Jeep Dodge Ram Albuquerque opens
— 2020: Larry H. Miller Casa Chevrolet and Larry H. Miller Casa Chrysler Jeep open
Zeigler Automotive Group on Monday said it has acquired three new luxury dealerships in Schaumburg and Hoffman Estates, Ill.
Zeigler said its acquisition of Mercedes-Benz and Sprinter of Hoffman Estates, Jaguar Land Rover Schaumburg, and INFINITI of Hoffman Estates from Motor Werks Auto Group owners Mick Austin and Paul Tamraz is its largest acquisition in history.
The new dealerships for Zeigler are collectively projected to sell 5,000 new units per year, adding an additional $350 million in sales per year to the dealership group’s sales. That brings the group’s total to $1.7 billion per year on more than 40,000 units.
The transaction adds four new highline brands to Zeigler’s portfolio: Mercedes-Benz, Sprinter, Jaguar and Land Rover in addition to a second INFINITI dealer.
Zeigler Automotive Group, which describes itself as one of the largest privately-owned dealer groups in the nation with 75 franchises and 30 locations in Illinois, Indiana and Michigan, will take over operations on Jan. 20. Motor Werks Auto Group will retain its Barrington region stores.
The dealership group will not rebrand the luxury stores under Zeigler, and it will keep the same Motor Werks staff onboard with the exception who it describes as “two notable Zeigler leaders.”
Bill Ohara will be vice president of Zeigler Automotive Group, overseeing the new dealers in the region.
“I am looking forward to expanding Zeigler’s presence in Schaumburg and Hoffman Estates. Mercedes-Benz, Sprinter, Land Rover, Jaguar and INFINITI are all exciting brands,” Ohara said in a news release.
He continued, “Our culture at Zeigler will bring a great experience to all of future customers.”
Mike Connolly of Zeigler Nissan Orland Park will become general manager of Mercedes-Benz and Sprinter of Hoffman Estates.
“I am looking forward to building the Mercedes-Benz brand in Schaumburg and Hoffman Estates — Chicago’s premier retail market,” Connolly said.
He continued, “I know our new customers will experience the difference in service that only Zeigler can provide. I would also like to take a moment to welcome all of our new team members and promise them a world-class culture that will have them excited to come to work every day to serve our customers.”
"We are excited to be adding these new dealers to our lineup," said Zeigler Automotive Group president and owner Aaron Zeigler.
Zeigler continued, “These are high performing stores that will undoubtedly expand our luxury reach in the market and give our customers more options with the same exceptional service they’ve come to expect from Zeigler.”
Group 1 Automotive has acquired what it says are the only Lexus franchises in the state of New Mexico.
The company said it expects the two Lexus dealerships, located in Albuquerque and Santa Fe, to generate approximately $90 million in annualized revenues.
Group 1, which owns and operates 186 automotive dealerships, 242 franchises, and 49 collision centers in the United States, the United Kingdom and Brazil that offer 31 brands of automobiles, said the addition of the stores increases its total New Mexico representation to nine automotive franchises.
Those include the following luxury brands:
— BMW/MINI
— BMW Mottorad (motorcycles)
— Lexus
— Jaguar/Land Rover.
“We are pleased to broaden our dealership footprint in the fast-growing New Mexico market and expand our long-standing partnership with Lexus,” Group 1's president and chief executive officer Earl Hesterberg said in a news release.
Asbury Automotive Group’s purchase of Mike Shaw Subaru in Thornton, Colo. marks two firsts for the company.
It is Asbury’s first dealership in Colorado, and it is the company’s first Subaru brand store. The purchase closed on Sept. 30.
Asbury notes that Mike Shaw Subaru, currently with 120 employees, has been in the Denver market for 17 years. Asbury retained all the dealership's employees.
The dealership will keep the name, Mike Shaw Subaru.
“We are very excited about Mike Shaw Subaru,” Asbury Automotive Group president and chief executive officer David Hult said in a news release. “It is a great store with a great team and a great brand, and Denver is a new market for us to develop and grow.”
Hult continued, “This dynamic market presents several opportunities for Asbury, and we are thrilled that our introduction to Colorado is through a highly successful brand and dealership whose reputation for community involvement and environmental consciousness is renowned. We are proud to have Mike Shaw Subaru join our family of dealerships.
“The highly engaged Mike Shaw Subaru Team has built the leading Subaru dealership in the market. My decision to sell Mike Shaw Subaru was not an easy one,” said Mike Shaw Automotive chief executive officer and founder Mike Shaw. “However, we felt confident that Asbury Automotive Group is the right fit culturally and will be good stewards of Mike Shaw Subaru.”
Asbury Automotive Group currently operates 88 dealerships.
Lithia Motors’ Tuesday announcement that it has added Chrysler Dodge Jeep Ram Fiat and Subaru stores in Morgantown, W.Va. is its second recent announcement of expansion to the Morgantown area.
Lithia in June of this year acquired Ford Lincoln of Morgantown, which the company said was part of the Lithia nationwide network reaching 82% of the United States.
Lithia president and chief executive officer Bryan DeBoer said adding the FCA brands and Subaru means consumers get more domestic and import selection. It also strengthens Lithia’s network, he said.
Lithia anticipates that the new Morgantown locations will generate approximately $100 million in annual revenue.
“We’re excited to broaden our offerings in the Morgantown market,” DeBoer said in a news release.
The company said the stores exemplify its technique of acquiring strong stores that are underperforming relative to their potential.
“In addition to acquiring more stores, we’re extending our network’s reach by activating sell-from-home technology with vehicle pickup,” DeBoer said “Having already launched this functionality in the nearby Pittsburgh area, Lithia is actively increasing market share by serving customers wherever, whenever, and however they desire.”
Lithia increased revenue 17.2% in 2018 and rose 29 spots to No. 265 on the Fortune 500.
Owner Mike Peebles has sold his long-time Metro Denver-area dealership Longmont Ford to a partnership of buyers that includes Maroone USA, which is a company owned by former AutoNation president and chief operating officer Mike Maroone.
Also in the partnership of buyers are Serra Automotive and Pat Grooms, who will become president and operating partner of Longmont Ford. Grooms has been general manager of Longmont Ford since 2016.
Kerrigan Advisors, an auto dealer advisory firm, represented Peebles in the sale, and according to a news release from Kerrigan, Peebles acquired Valley Ford, which later became Longmont Ford, in 2005.
Peebles, according to the release, worked to build a reputation of “helping Greater Denver Metro drivers find the right Ford for their lifestyle and budget.”
The dealership went through a major renovation, and Longmont is the fourth-highest-volume Ford store in the Metro Denver area, according to Kerrigan Advisors.
“Since the day we purchased Longmont Ford, we have worked hard to make it the kind of local store people could count on for an excellent customer experience and a high level of service,” Peebles said. “We lead by our company motto: High Character, High Results.”
Peebles continued, “So, when I decided to sell, it was a carefully-considered decision to make sure we left the dealership in the right hands for the community and my employees. I am pleased Mike Maroone and his team will lead Longmont Ford in its next chapter. I’d like to thank Kerrigan Advisors for guiding us through this process professionally and with such a keen understanding of the buy/sell process.”
“Advising Mike Peebles on this transaction was a real privilege,” said Kerrigan Advisors founder and managing director Erin Kerrigan. “We worked hard to identify the best buyer for his store to ensure he achieved all of his personal and financial goals for the sale. Longmont Ford is one of the most successful domestic dealerships in the Denver area. Maroone USA will continue the dealership’s legacy of top customer service and employee relations.”
Kerrigan Advisors has represented on the sale of 80 dealerships in the last five years. The company has represented more than $1.5 billion in client proceeds. The company performs sell-side advisory work and offers strategic consulting services to dealers. Those services include growth planning, valuation, capital raising and financial analysis.
“It was important that Kerrigan Advisors represent Longmont Ford in the right way and to be sensitive to the strong reputation established by Peebles and his team,” said Kerrigan Advisors managing director Ryan Kerrigan. “Mike has a lasting Colorado legacy thanks to this dealership, his Ford store in Rifle, and of course his community philanthropy.”
“We’re thankful to Kerrigan Advisors for their expert representation during the sale,” Peebles said. “Their assistance was instrumental. In fact, we originally tried to sell the dealership without their guidance, but quickly realized that was a mistake. Their expertise in representing dealers is without question. They do far more than operate as brokers. They really manage the sale process every step of the way.”
Michael Dommermuth and Randy Earnest of Fairfield and Woods, P.C. served as legal counsel and Tony Allison and Addison Wilk of Crowe LLP served as accounting advisors for Longmont Ford. Stephen Dietrich and Sandy Lowe served as legal counsel to Maroone USA, Serra Automotive and Pat Grooms.
Foundation Automotive Corp. on Thursday said that it has purchased what it describes as the first carbon-neutral dealership in the world, Motorcars Honda in Cleveland Heights.
Motorcars Honda will change its name to Foundation Honda, effective immediately.
The approximately 46,550-square-foot facility includes a state-of-the-art service area.
Foundation said the dealership’s general manager and managing partner Peter Wink is a “seasoned automotive professional” who has plans for growing the dealership’s sales and service teams, which Foundation said would “maximize the dealership’s full potential and exceed customer expectations.”
"The success of the integration will be driven by how we begin working as one with a singular commitment to serve customers and the community," Foundation Automotive chief operating officer Chuck Kramer said in a news release. "Operationally, we have lots of improvement opportunity, which is good news. It provides an opening for us to raise the bar for customers and make the greater Cleveland Heights area proud to have Foundation Honda within their local business community."
"We are pleased to acquire our first Honda dealership and advance our strategy of diversifying the brand," said Foundation Automotive Corp. president and chief executive officer, Kevin Kutschinski. "Purchasing the dealership was an easy decision in expanding our portfolio of dealership presence into Ohio."
A 2017 article highlighted Motorcars Honda’s conservation efforts in the areas of carbon, water and waste.
Foundation Automotive kicked off its U.S. expansion in June, purchasing five stores in Texas and North Dakota.
HGreg.com president John Hairabedian says his dealership group is committed to Florida.
An example of that commitment came on Tuesday, as HGreg.com announced it has acquired a new location in West Palm Beach.
Construction has already begun on the 9.7-acre property close to Palm Beach International Airport. The site will become the future home of HGreg.com West Palm Beach.
The location, which HGreg.com says will open at the end of this year, will feature the company’s first dealership in the City of West Palm Beach. It will be the company’s second in Palm Beach County and seventh in the state.
HGreg.com already owns and operates pre-owned car dealership locations in Orlando, Westpark (Broward County), Doral and Miami. Other HGreg sites include HGreg LUX in Pompano Beach — which is a boutique dealership for luxury vehicles — and HGreg Nissan Delray Beach.
“In 2010, we chose to put down roots in the state and we couldn’t be more pleased with our choice,” Hairabedian said in a news release. “This newest location will only improve our ability to serve our clients in the region as well as the many travelers to the Sunshine State.”
The 51,326-square-foot West Palm Beach site, located at 551 South Military Trail, includes a showroom, office space, and a three-story parking and services building for a total of 221,406 square feet.
HGreg.com said the site holds an investment of more than $50 million, and that includes a commitment of $4.5 million for renovations and equipment and more than $35 million in inventory.
The new owners expect the location will hold 1,200 vehicles. Hiring has begun, with an expected staff of 300 full- and part-time employees.
Describing the store as an example of Lithia’s strategy of acquiring “a strong brand with considerable earnings potential,” Lithia Motors has added Hazleton Honda in Hazleton, Pa., to its network.
Lithia anticipates that the dealership will generate annual revenue of about $50 million.
With the acquisition, Lithia extends its store network into eastern Pennsylvania.
The company said it is on pace for “another solid year of acquisition growth.”
“The acquisition market remains robust as we expand beyond our current national reach of 82%,” Lithia Motors president and chief executive officer Bryan DeBoer said in a news release. “New digital solutions and future business adjacencies will further activate our network by providing comprehensive solutions that our customers crave.”
DeBoer added that his company welcomed the existing team at Hazleton Honda, “and their expertise to expand our customer offerings and market share.”
“Located between our store groupings in Western Pennsylvania and the Tri-State area, this location is strategically positioned to provide customers with experiences wherever, whenever, and however they desire,” DeBoer said.
In a move that the company expects to generate approximately $115 million in annualized revenues, Group 1 Automotive has acquired five Volkswagen franchises in the U.K.
The franchises, located in the county of Essex — which is east of London — include four Volkswagen franchises and one Volkswagen Commercial Vehicle franchise.
Group 1 said the acquired operations are located in the cities of Chelmsford, Colchester, Romford and Southend, and the company added that the territory is near various additional existing U.K. automotive dealerships that it currently owns and operates.
With the acquisition, Group 1 increases its U.K. operations to 49 dealerships (65 franchises). Those operations include 11 existing brands: Audi, BMW, Ford, Jaguar, Kia, Land Rover, MINI, SEAT, Skoda, Toyota and Volkswagen Commercial Vehicles.
Group 1 in June also disposed of three U.K. franchises, including BMW and MINI franchises in the city of Watford and a Volkswagen Commercial Vehicle franchise in the city of Hatfield. Those franchises generated about $70 million in trailing-12-month revenues, according to the company.
Group 1 owns and operates 184 automotive dealerships, 238 franchises and 48 collision centers in the United States, the United Kingdom and Brazil. Those offer 30 brands of automobiles.
"We are pleased to further expand our global relationship with Volkswagen through the addition of these five franchises to our growing UK platform," Group 1 president and chief executive officer Earl Hesterberg said in a news release.
