Rising Ed Morse Automotive Group, in two December acquisitions, has entered a brand new state and bolstered its presence in one other.
The Delray Seaside, Fla., group on Dec. 6 purchased Sellers-Sexton Ford-Lincoln-Mazda in Saint Robert, Mo., from Larry Sexton. He was represented by CliftonLarsonAllen within the transaction.
Ed Morse Automotive CEO Teddy Morse instructed Automotive Information that the transaction didn’t embody the Lincoln or Mazda manufacturers. The shop was renamed Ed Morse Ford.
In Might, Ed Morse Automotive entered Missouri with the acquisition of 4 dealerships together with a retailer in Saint Robert, which is southwest of St. Louis alongside Interstate 44.
“Our Chrysler-Dodge-Jeep-Ram retailer in Saint Robert, Mo., was about three quarters of a mile off the freeway,” Morse mentioned. “Each time we might drive to it, we might cross this different dealership known as Sellers-Sexton Ford. It was a handsome dealership, proper on the street. Each time we glided by it, I simply discovered my head saved turning and it.
“At some point I am using there and my government vp, Randy Hoffman, observed me wanting and he goes, ‘You need me to look into it?’ And I mentioned, ‘I believe I do.’ And he did.”
Simply three days after closing on Sellers-Sexton Ford, the group purchased its first Illinois dealerships.
On Dec. 9, Ed Morse Automotive acquired Weir Chevrolet-Buick-GMC and Weir Ford, each in Crimson Bud, and Weir Chrysler-Dodge-Jeep-Ram in New Athens, from retiring vendor Norman Roy, Morse mentioned.
The shops have been renamed Ed Morse Chevrolet-Buick-GMC, Ed Morse Ford and Ed Morse Chrysler-Dodge-Jeep-Ram. The transaction additionally included Weir Elements Middle, additionally in Crimson Bud, which was renamed Ed Morse Elements Middle. Crimson Bud and New Athens are southeast of St. Louis.
Jennifer Rafael of Supplier Options Mergers and Acquisitions, a buy-sell agency primarily based in Markham, Ontario, and with a U.S. workplace in Jupiter, Fla., represented Roy within the transaction.
Ed Morse now has 27 areas in Florida, Illinois, Oklahoma, Missouri and Texas. In July, the group purchased two dealerships in Texas.
Ed Morse Automotive ranks No. 60 on Automotive Information‘ listing of the highest 150 dealership teams primarily based within the U.S., retailing 14,169 new autos in 2020. Ed Morse, Teddy’s grandfather, began the enterprise in 1946.