A Canadian auto retailer continued its Texas growth within the fourth quarter, whereas three different firms added dealerships in third-quarter offers.

Here is a take a look at the offers involving home and import shops and dealerships in Texas, Missouri and Wyoming. One entails an auto retailer ranked on the Automotive Information checklist of the highest 150 dealership teams.

Steele Auto expands once more in Texas
Increasing Canadian retailer Steele Auto Group continued its acquisition spree in Texas on Oct. 17 with the acquisition of Nyle Maxwell GMC within the Austin suburb of Spherical Rock.

Steele Auto purchased the uncommon standalone GMC retailer from Nyle Maxwell.

“Spherical Rock, situated simply outdoors [the] Austin metropolis limits, is a rising space the place we see the potential for continued development,” Steele Auto President Kim Day mentioned in a press release.

The dealership, renamed Steele GMC Spherical Rock, will “properly complement” Steele’s current areas in Texas, Day added.

As of Jan. 1, there have been simply 50 unique GMC dealerships within the nation, in accordance with Automotive Information‘ annual dealership census.

The acquisition marks Steele’s third buy in Texas in 5 months. The dealership group’s footprint within the state has grown to eight shops since 2020. In July, Steele Auto, of Dartmouth, Nova Scotia, purchased a Stellantis retailer in San Antonio and in June bought a Houston Hyundai dealership from auto retail large Group 1 Automotive Inc.

Along with its Texas shops, Steele Auto additionally owns 51 dealerships in Canada.

Cavender Auto grows past San Antonio
Cavender Auto Group expanded its Texas presence and launched the Nissan model with its Sept. 12 buy of two Nissan shops from Steve and Brent McGavock, Rob Cavender, the group’s vice chairman, confirmed to Automotive Information.

McGavock Nissan of Rockwall was a part of McGavock Automotive Group since 2020 whereas McGavock Nissan of San Marcos was a part of the group since 2019, in accordance with a press release from Nationwide Enterprise Brokers, a buy-sell agency in Irvine, Calif., which dealt with the transaction. Chris Teape, senior vice chairman of the Midsouth area, and Drew Bray, vice chairman of the Midsouth area for Nationwide Enterprise Brokers, dealt with the deal.

“Each of those shops had been by quite a few possession teams in a brief time period, and we’re wanting ahead to stabilizing the possession,” Rob Cavender mentioned in a press release. “We plan to carry these acquisitions as long-term performs and put them each on a brand new trajectory.”

One dealership was a part of a deliberate sale from McGavock Auto to ailing LMP Automotive Holdings Inc., which was introduced in September 2021 and terminated on Jan. 31.

LMP Automotive deliberate to buy 5 dealerships from McGavock Auto, together with an Infiniti retailer in Lubbock, Texas, and 4 Texas Nissan shops in Abilene, Amarillo, San Marcos and Lubbock. The Rockwall retailer was not included in that potential sale. McGavock offered the Abilene retailer on June 1 to Dillon Clark and companions.

Cavender Auto renamed the dealerships Cavender Nissan of Rockwall and Cavender Nissan of San Marcos. Rockwall is a part of the Dallas metropolitan space whereas San Marcos is northeast of San Antonio.

Cavender Auto of San Antonio is a third-generation, family-owned enterprise. Cavender Auto additionally sells different manufacturers equivalent to Buick, GMC, Cadillac, Chevrolet, Ford, Jaguar and Land Rover.

McGrath Imports buys first retailer outdoors Illinois

Brothers Kevin McGrath and Mike McGrath Jr., house owners of McGrath Imports of Chicago, purchased Fulton Chrysler-Dodge-Jeep-Ram, in Missouri, from Chuck Holder. The deal closed Aug. 4, marking the group’s first retailer outdoors Illinois.

They renamed the shop McGrath Fulton Chrysler-Dodge-Jeep-Ram and plan to relocate it to close by Kingdom Metropolis, Mo., in accordance with Jennifer Rafael, vice chairman for the Midwest area of Supplier Options Mergers and Acquisitions, which represented the McGrath group within the deal.

Each Fulton and Kingdom Metropolis are east of Columbia, Mo.

McGrath Imports purchased its first home retailer, now referred to as McGrath Freeway Chevrolet-Buick-GMC, in El Paso, Unwell., in August 2021. McGrath additionally sells Acura, Genesis, Honda, Hyundai, Kia, Lexus, Mazda and Subaru automobiles in Illinois, in accordance with its web site.

Rafael instructed Automotive Information that the McGrath group “is unquestionably in a development mode” within the Midwest.

The McGraths’ technique is to nominate managing companions to supervise their shops in several markets, Rafael mentioned.

Will Mulcahy is McGrath’s managing accomplice at its new Fulton retailer, she mentioned, and can be managing accomplice of McGrath Arlington Kia in Palatine, Unwell., and McGrath Freeway Chevrolet-Buick-GMC.

Hal Feder, managing director of Murphy Enterprise & Monetary Corp. of Williamsburg, Va., represented Holder within the transaction.

Summit Automotive provides Nissan retailer
Summit Automotive Companions added to its rising presence in Wyoming with the acquisition of former Nissan of Casper — its second dealership within the state and second retailer in Casper, in central Wyoming.

Summit Automotive, of Centennial, Colo., has a observe of utilizing completely different model names for clusters of dealerships in extensively separated markets. Nissan of Casper was renamed Vista Nissan.

The transaction, which closed Aug. 12, was promoting seller Chris Brower’s solely dealership, mentioned dealer Tim Wild. Wild, director of the Midwest & Plains Area for buy-sell agency Tim Lamb Group in Columbus, Ohio, represented the client, however mentioned he labored with each events.

Vista Nissan and one other dealership in Casper, Vista Toyota, use the Vista identify. Vista Toyota is the brand new identify for the previous Foss Toyota in Casper, which Summit Automotive purchased in December 2021.

Summit Automotive has dealerships in six states — Wyoming, Colorado, Tennessee, Maine, New Hampshire and Vermont.

Summit Automotive ranks No. 56 on the Automotive Information checklist of the highest 150 dealership teams based mostly within the U.S., retailing 15,853 new automobiles in 2021.