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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.
The chairman of Fiat Chrysler Automobiles is pushing a proposal that would merge the Italian-American carmaker with France’s Renault, creating the world’s third-largest manufacturer.
Brown & Brown Inc. has acquired the assets of United Development Systems Inc., the F&I performance and compliance management provider founded by Randy Crisorio in 1982.
New tax law and economies of scale help publics and consolidators buck trends to grow earnings and fuel the buy/sell market to 92% growth in the second quarter. According to the firm, the market is on track for a fifth consecutive year of more than 200 acquisitions.
The acquisitions bring the dealer group’s rooftop count to 32. In the Tampa, Fla., area alone, Morgan Auto Group now represents 10 brands across 10 stores.
The Toronto-based mergers-and-acquisitions firm has advised on the closing of more than 160 dealerships in deals worth more than $3 billion. Its expansion into the U.S. market will be led by industry veteran Russell Hill.
iA Financial Group has completed its acquisition of the third-party administrator and its insurance arm, Dealers Assurance Co. Both companies will now operate as fully owned subsidiaries of iA.
Despite slowing auto sales and a slight dip in blue sky values, dealership buy/sell activity remained robust in the first quarter, according to the buy/sell advisory firm’s The Blue Sky Report.