More buy-sell moves as well as fundraising activities involving dealerships surfaced on Friday.

Beginning first with more actions connected to mergers and acquisitions, Haig Partners was the exclusive sell-side advisor to the McDermott Auto Group on the sale of David McDermott Lexus and Dave McDermott Chevrolet located outside New Haven, Conn.

According to a news release from Haig Partners, the buyer was PSD Automotive, which now owns 31 dealerships.

David McDermott has been in the automotive retail industry since 1961. He has owned numerous dealerships throughout the years and has built a reputation as a highly respected dealer. Chevrolet, Lexus, Chrysler and Hyundai have elected him to their national dealer councils numerous times.  

“My family has been encouraging me for years to retire David McDermott said in the news release. “When the buy-sell market heated up, I decided that the time was right to sell the dealerships. This has been a terrific deal for all concerned. I’m thrilled that the buyer was sufficiently impressed with our organization that he hired every one of our employees and is retaining the name. My customers and I will miss each other, but they will be happy with the new owner, too.

Patrick Dibre is owner and chief executive officer of PSD Automotive.

“I’d like to congratulate Dave McDermott as he begins his retirement,” Dibre said. “Everything went very smoothly and I’m thrilled to have the opportunity to represent Lexus and Chevrolet in southern Connecticut.”

McDermott also shared his perspectives on how this transaction unfolded.

“I’d also like to say how pleased I was with Alan Haig and Nate Klebacha at Haig Partners,” McDermott said. “Many dealers have called through the years to buy our Lexus and Chevrolet stores, and I’ve sold some of the other dealerships I’ve owned over the years on my own.

“However, Alan and his team had come highly recommended and they lived up to their reputation as being trustworthy advisors who were highly effective. The transaction was fast, pleasurable and I’m more than happy with the deal terms,” McDermott went on to say.

The team at Haig Partners has advised on the sale of 39 dealerships in the Northeast since 2019.

“The buy-sell market remains as strong as I have seen it in my career. Dealership profits are at all-time high levels, allowing sellers to get unprecedented prices while still providing attractive returns for buyers. I’m regularly using superlatives these days as we all need to recognize that these are special times. For dealers considering an exit, conditions are excellent,” Alan Haig said.

“This transaction also demonstrates that Lexus remains an aspirational franchise for almost all dealership groups as we had numerous parties that were keenly interested. We are grateful to Dave McDermott for his trust in our firm. For those who know Dave, I’m sure they will agree with me that his warmth, enthusiasm and entrepreneurial spirit embody much of what is special and good in our industry. It was truly a pleasure and an honor to assist him,” Haig went on to say.

Smail’s efforts involving breast cancer

Meanwhile, the American International Automobile Dealers Association shared the philanthropic activities at the Smail Auto Group, which has been family owned and operated for more than 75 years and has 10 franchises in Greensburg, Pa.

The group highlighted the Smail Cares Breast Cancer Awareness Campaign generated more than $42,984 in October for four charities, including:

— American Cancer Society: Real Men Wear Pink

— Magee Women’s Institute and Foundation

— Pink Pamper Halo Fund

— Westmoreland Walks

“The breast cancer charities represented impact women and families with cancer on a variety of levels, including research and awareness, early detection, patient support programs, hair replacement options and scholarships,” Smail said. “We hope to continue our fight against breast cancer and build upon the $620,303 that Smail Auto Group has raised to date. Thank you to all our customers and employees who helped to make this year’s campaign a success.”

North Dakota dealer rewards local school employee

Kramer Chevrolet and Kramer Subaru — locally operated, full-service dealerships in Mandan N.D. — said they made a memorable difference in their community on Jan. 14.

The stores, which joined Foundation Automotive Corp. in 2019, made their first move as a part of what they initially called Giveback Giveaway. This month, the dealerships gave a 2013 Subaru Outback to Laurie Kunz, a staff member at a local elementary school.

Over the holidays, Kramer Chevrolet and Kramer Subaru launched the program and began to accept nominations for a deserving candidate to be awarded a vehicle. With more than 125 entries, a committee of community members chose a winner and helped plan “the surprise of a lifetime for the lucky recipient,” according to a news release from the dealerships.

In the submission, her colleagues mentioned that Kunz is a mother of two, currently working two jobs and going to school to become a teacher.

“The vehicle she was driving was unreliable and not safe to transport herself and her two young children. With countless deficiencies, she was unable to afford the repairs or a new vehicle. Laurie’s colleagues mentioned that she is a hardworking woman very deserving of the donation,” the dealers said.

After presenting the Kunz the vehicle and the success of the initial launch, Kramer Chevrolet and Kramer Subaru managing partner Phil Alalouf said the program would now be called Project Purpose.

“We want to give back to the community that we all love so much. We kicked it off with a car giveaway, but moving forward we also want to show support in all of the ways a dealership can with Project Purpose,” Alalouf said in the news release.

“We will be helping people in our community fix their vehicles and get them on the road with safe transportation when they cannot afford it. We have a team that is actively looking for these people so we can do what is right,” he continued. “When the community is the foundation of any business, there’s no greater way to show appreciation than giving back.”

Foundation Automotive chief operating officer Chuck Kramer added, “Our core company values are employee satisfaction, strong community involvement and excellent customer service. We are grateful that we have the ability to do what’s right and help the people in the community who need it most.”