4 dealerships modified palms within the third quarter in 4 offers that concerned luxury- and domestic-brand shops.
Here is a fast have a look at the offers. Two transactions concerned teams ranked on Automotive Information‘ prime 150 dealership teams itemizing.
Extra progress in Michigan for LaFontaine
LaFontaine Automotive Group, one of many largest privately held dealership teams within the nation, has bought a Michigan Buick-GMC dealership group that final 12 months sued Normal Motors and GM Monetary over allegations of unfair termination of floorplan agreements and racial discrimination.
LaFontaine of Highland, Mich., on Sept. 9 purchased Superior Buick-GMC in Dearborn, Mich., from Tanya Robin and Basam Robin.
Phrases of the deal weren’t disclosed. The dealership was renamed LaFontaine Buick-GMC of Dearborn. It marks LaFontaine’s fourth Buick-GMC retailer and marks its third acquisition for the reason that starting of July.
In July, LaFontaine purchased Hyundai, Mazda and Volkswagen dealerships close to Detroit in Livonia, Mich., from Ralph Thayer Automotive and bought Signature Lincoln in Owosso, Mich., from the Joe Falzon-owned Signature Auto Group.
LaFontaine now has 48 franchises at 28 retail areas — all in Michigan — plus 10 collision facilities within the state.
The group stated Robert Simmons, govt common supervisor of GM manufacturers for the group, will oversee the dealership. Shadrick Bennett has been named the shop’s common supervisor. He additionally serves as common supervisor of LaFontaine Chevrolet in Dexter, Mich.
The Robins in Might 2020 filed the lawsuit in U.S. District Courtroom in Detroit. GM denied the allegations and a choose dismissed a lot of the claims towards GM. The case continues, and GM Monetary is also searching for a movement to dismiss, Steven Blatt, a associate within the Bellavia Blatt legislation agency in Mineola, N.Y., and lawyer for the Robins, advised Automotive Information.
Blatt stated the sale of the Dearborn retailer wasn’t associated to the lawsuit and that the Robins nonetheless personal a Buick-Cadillac retailer in Battle Creek, Mich.
LaFontaine CEO Ryan LaFontaine stated he sees a “large alternative” to develop the Buick and GMC manufacturers within the Dearborn space.
“This dealership was a neighborhood powerhouse again within the day and we’re desirous to reconnect with earlier prospects and ship an unmatched buyer expertise — from gross sales to service, [and] components to physique store,” he stated in an announcement.
LaFontaine ranks No. 43 on Automotive Information‘ checklist of the highest 150 dealership teams primarily based within the U.S., retailing 19,565 new automobiles in 2020.
Asbury sells Virginia BMW dealership
Circulate Automotive Cos. on Monday expanded its presence within the Charlottesville, Va., market with the acquisition of BMW of Charlottesville from Asbury Automotive Group.
“We’re excited so as to add to our footprint within the Charlottesville market and couldn’t ask for a greater franchise than BMW,” Don Circulate, CEO of Circulate Automotive Cos., stated in an announcement. “I attended college in Charlottesville and am personally related to this superb group.”
Circulate Automotive of Winston-Salem, N.C., additionally owns an Audi-Porsche-Volkswagen dealership and Mazda retailer in Charlottesville, in accordance with its web site. Circulate Automotive has 45 franchises unfold throughout North Carolina and Virginia. BMW of Charlottesville is Circulate Automotive’s second BMW dealership.
The BMW retailer was Asbury’s lone location in Charlottesville and the group has exited that market. It now has two shops remaining in Virginia: Richmond BMW Midlothian and Richmond BMW, in accordance with its web site.
In August, Asbury purchased a Subaru dealership in Colorado.
The Presidio Group, a Denver- and Atlanta-based funding banking and advisory agency, represented Asbury within the sale of BMW of Charlottesville.
Asbury, of Duluth, Ga., ranks No. 6 on Automotive Information‘ checklist of the highest 150 dealership teams primarily based within the U.S., retailing 95,165 new automobiles in 2020.
Growth in Oklahoma
Ivette Dominguez Drawe, Michael Drawe and Rick Jones have acquired an Acura dealership in Oklahoma.
The trio on Sept. 3 bought Don Carlton Acura of Tulsa from Brenda Carlton. The shop has been renamed Submit Oak Acura.
It is the second acquisition in Oklahoma for Dominguez Drawe, who with the companions in late 2019 acquired a Toyota retailer in Oklahoma Metropolis that operates as Submit Oak Toyota.
Dominguez Drawe now has six dealerships throughout Colorado, Illinois, Missouri and Oklahoma. She was named by Automotive Information as a 100 Main Ladies within the North American Auto Trade honoree in 2020.
The Acura retailer launched in 1995 as a part of the family-owned and operated Don Carlton Auto Group. Carlton is retaining Don Carlton Honda of Tulsa.
Dominguez Drawe and her husband, Michael Drawe, met whereas they labored for Sonic Automotive Inc. In 2005, they purchased their first dealership, Alpine Buick-GMC in Littleton, Colo.
In 2017, the Drawes partnered with Jones to purchase their second retailer, Cardinal Buick-GMC in Belleville, Sick. Jones is now a associate and president in 4 of Dominguez Drawe’s six shops. Michael Drawe is an proprietor within the six shops.
Efficiency Brokerage Companies, a dealership buy-sell agency in Irvine, Calif., dealt with the Don Carlton Acura transaction.
Getting greater in Texas
The Sewell Household of Cos. in Odessa, Texas, led by Collin Sewell, has acquired its first Chrysler-Dodge-Jeep-Ram dealership.
Sewell on Aug. 31 purchased Benny Boyd Andrews Dodge-Chrysler-Jeep-Ram Truck in Andrews, Texas, from the Benny Boyd Auto Group. The dealership has been renamed Sewell Chrysler-Dodge-Jeep-Ram. Andrews is a metropolis close to the New Mexico border and the group already has a Chevrolet-Buick-GMC dealership there.
Collin Sewell, president of the group, stated in an announcement: “We’re wanting ahead to welcoming the Benny Boyd staff members and purchasers to expertise the perfect of what they’ve had up to now, now with the Sewell staff.”
The Sewell group has been rising over the previous few years, including a BMW retailer in Midland, Texas, in 2017, a Cadillac-Buick-GMC retailer in 2019 in Midland and a Cadillac retailer in Odessa final 12 months, in accordance with its web site.
Edward Sewell in 1911 based the Sewell Household of Cos. Now in its fourth technology, the enterprise has dealerships representing 11 manufacturers in western Texas.
Invoice Scrivner and Wes Hamilton of Pinnacle Mergers & Acquisitions, a purchase/promote agency in Frisco, Texas, represented the vendor within the Sewell-Boyd transaction.