Hawkeye State Dealerships Trade Hands
One auto group and a single store sell as part of a recent deluge of U.S. buy-sell transactions making 2026 a hot M&A year.
A Lexus dealership is one of 11 stores sold to the former owner's son and the son's business partner.
Performance Brokerage Services
Iowa is having a brisk fall in auto retail buy-sell activity with two recent sales encompassing a dozen stores in and near the state capital.
One of the transactions involved the sale of the 11-store Willis Automotive group from father to son.
The group, founded as a Cadillac-Oldsmobile store in 1947 in Des Moines by Charles Betts Sr., was bought out by longtime employee Rich Willis in 2000.
Willis recently sold it to his son Jason and Jason’s business partner, Collin Sewell, as he retires. Jason Willis, who’s served as the group’s dealer principal since 2019, is now CEO.
Brands included in the group are Cadillac, Chevrolet, Infiniti, Land Rover, Lexus, Mini, Nissan and Volvo and are spread across the Des Moines metropolitan area. There are also two used-vehicle stores, in addition to a Jaguar service location in the capital city.
Rich Willis was a Time Dealer of the Year award finalist in 2006 and won the Cadillac Dealer of the Year nod in 2022, said sell-side adviser Performance Brokerage Services.
Another Deal
Meanwhile in nearby Marshalltown, Gregg Young Automotive Group sold one of its dozen dealerships to a different business partnership.
The Chevrolet store went to longtime auto dealer Alan Reuber and business partner Matthew Barrows in a deal also brokered by Performance.
Young, who entered auto retail in 2000 with a Nebraska Chevrolet store purchase, now also operates dealerships in Iowa and Wisconsin.
Reuber had exited auto retail for a while but is jumping back in with the purchase. It’s his and Barrows’ second dealership acquisition together. Over Reuber’s time in auto retail, he has owned a total of 15 stores.
The co-owners renamed their newest holding Marshalltown Chevrolet.
More Industry
Mainstay Georgia Auto Group Sells
Acquisition by Group 1 extends its presence in the U.S. luxury retail market with the addition of the 10-store stable.
Read More →
New Auto Group Enters the Market
The Iowa transaction involved a Chevrolet GMC Chrysler Dodge Jeep Ram rooftop.
Read More →
Connection Drives Consideration
Convenience and safety are top priorities for American drivers when it comes to connected vehicles and the services they expect with their next car.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Auto Nameplate Loyalty Holds in Tough Times
Consumers have been faithful to brands despite financial pressures, and JD Power says that’s because automakers have made some wise moves.
Read More →
Top New Jersey RV Store Sells
Myer’s RV Superstore is expanding its footprint in the state with two new locations that it acquired from Ed Hutchinson Jr.
Read More →
Alliance Analyzes Technician Pipeline
A new industry report examines the state of skilled trades in the U.S. and details the drivers of demand for automotive repair and how technicians enter and grow in the workforce.
Read More →
Luxury Rooftop Changes Hands
Genesis of Glenview is getting a new owner and a new location, but its name will stay the same.
Read More →
Future-Proof Your Business
A new industry outlook details several ways that automotive companies can use the rise in artificial intelligence and advanced technologies to their advantage.
Read More →