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Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.
American Auto Guardian Inc. has been acquired by Amynta Group, creating a combined footprint that includes 15,000 dealers and 1,400 agents in the U.S. and Canada.
The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.
Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.
PowerBand Solutions is set to purchase 60% of the parent company of MUSA Auto Finance, a move designed to give PBX a competitive edge in acquisition, leasing, lending, and auction services.
Haig Partners announced the addition of John Davis, former partner with DHG Dealerships, as managing director.
Affinitiv and AutoLoop have agreed to merge, creating what is billed as the single largest provider of data-driven marketing and software solutions in the auto retail segment.
Despite headwinds threatening dealership profitability, Kerrigan Advisors’ first-quarter report indicates 2019 is trending toward another 200-plus transaction year for the auto retail buy/sell market.
Fiat Chrysler has backed out of a proposed merger with Renault, blaming ‘political conditions’ in France, whose government owns a 15% share of Renault. A week ago, the companies were poised to form the world’s third-largest automaker.