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mergers and acquisitions

World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

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Used-Vehicle Volumes Up 4.1% Among Privately Owned Dealers

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.

Pace of Dealership Acquisitions Slows in Q2

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.

AAGI Acquired by Amynta Group

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.

Beverly Hills BMW Sold in Recordbreaking Deal

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.

Portfolio Acquired by Abry Partners

Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.

PowerBand Acquires Tesla’s Leasing Partner

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 Adds Davis as Managing Director

Haig Partners announced the addition of John Davis, former partner with DHG Dealerships, as managing director.

Affinitiv to Merge With AutoLoop

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.

Kerrigan: Dealership Buy/Sell Activity Up 38% in Q1

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.