Two Canadian dealership teams expanded their U.S. portfolios in fourth-quarter transactions to finish 2022.
Basis Automotive Corp., which entered Tennessee in July, additional expanded within the southern state with a fourth-quarter acquisition.
Basis Automotive on Dec. 14 purchased Humboldt Chrysler-Dodge-Jeep-Ram in Humboldt, Tenn., the auto retailer confirmed.
Basis Automotive bought the shop from Lonnie Cobb. The dealership’s title stays. Cobb nonetheless owns a Ford dealership in Henderson, Tenn., Basis Automotive stated.
Humboldt is west of Nashville. One of many 4 dealerships Basis Automotive purchased in July from Jones Motor Co. is in Humboldt, whereas the opposite three are in Savannah, Tenn., east of Memphis and north of the Mississippi and Alabama borders.
“That is our fifth acquisition in Tennessee with a further two shops within the Nashville space closing in early 2023,” Basis Automotive CEO Kevin Kutschinski stated in an announcement.
In August, Basis Automotive purchased a Mercedes-Benz dealership in Texas.
Basis Automotive, of Calgary, Alberta, has a U.S. base in Houston. Along with Tennessee and Texas, the group has dealerships in Colorado and North Dakota, plus three in Canada.
ALPHA AUTO GROUP EXPANDS
Canada’s Alpha Auto Group in November expanded its U.S. holdings into its second state with the acquisition of its first Mercedes-Benz retailer, in Fresno, Calif.
The transaction to purchase Mercedes-Benz of Fresno closed Nov. 22, with Scott Biehl and Triunity Automotive Group as sellers, stated George Karolis, president of Presidio Group, an funding banking and advisory agency based mostly in Atlanta and Denver. The agency represented the sellers within the transaction.
“We’re thrilled to welcome our new Fresno teammates to the AAG household,” Alpha Auto Group stated in an announcement. “Including Mercedes-Benz to our lineup has lengthy been a purpose of ours. We’re excited so as to add the dynamic California market to our portfolio. It’s a strategic addition and constructing block for our development.”
The deal additionally included the sale of Central Valley Fleet Gross sales & Service in Fresno, a used-vehicle retailer and fleet service enterprise, to Alpha Auto, Karolis instructed Automotive Information in an e mail.
Alpha Auto of Toronto, Ontario, entered the U.S. in 2018 with the acquisition Wilsonville Toyota and Wilsonville Subaru in Oregon. The group on its web site stated it’s seeking to purchase single dealerships and vendor teams with as many 20 shops throughout Canada and the U.S.
Biehl stated he not has any dealerships. In August, Triunity Automotive offered Jaguar-Land Rover Los Angeles to US Auto Belief, a dealership group led by Edward Glazer, an proprietor of the NFL’s Tampa Bay Buccaneers. Biehl was vendor principal of that retailer, and Presidio Group additionally represented him and Triunity Automotive in that sale.