June 23, 2021

The Presidio Group Advises Priority Automotive Group on Sale of Honda Dealership

Transaction an important strategic asset management step

The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Priority Automotive Group on the sale of Priority Honda Huntersville.

“We appreciate The Presidio Group’s help in achieving our strategic goals,” said Dennis Ellmer, CEO of Priority Automotive. “While Honda is a great franchise, we wanted to operate dealerships within a tighter geographic focus.”

Priority Automotive Group has dealerships throughout Virginia. The Honda franchise is located near Charlotte, NC. Its sale is part of an ongoing portfolio management strategy to focus on core assets in a specific geographic area.

“We were pleased to be able to assist Priority Automotive Group,” said George Karolis, President of The Presidio Group. “The automotive retail market is very healthy, and the Honda brand is always in demand.”

“We understood the strategic aim of this sale and are pleased

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LMP Automotive Holdings agrees to purchase majority stake in N.Y. dealership group for $608 million

The deal includes 20 franchises at 17 rooftops, all in New York. The Atlantic dealerships and storage facility are expected to generate an estimated $1.6 billion in revenue and $38 million in net income on an annualized basis in 2021, LMP said. The deal will be partially financed, which includes seller financing, and funded through company cash. The group will retain ownership of the real estate, which LMP will lease for five years, Staluppi Sr. said.

“It’s a good opportunity for them; it’s a good opportunity for my people,” Staluppi Sr. said. “None of my business will change. All of the employees stay in place. I’m still the boss.”

If all of the acquisitions LMP announced this year close, including Atlantic Auto Group, LMP’s 26 rooftops will represent 33 franchises: five Toyota, two Lexus, three Honda, one Subaru, six Hyundai, three Genesis, three Kia, four Chevrolet, two GMC, two Cadillac

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car

Car dealership worker conspired to rob a customer of $20K in cash, authorities say

A salesman at a used car dealership in Union County conspired with another man to rob a customer of $20,000 in cash over the summer, authorities said.

Christopher B. Phillips and Kareem O. Spann were in “constant contact” before and after a masked Spann yanked the bag of cash away from the customer in the rear of 21st Century Auto Group on Route 22 east in Springfield, the Union County Prosecutor’s Office said Tuesday.

Phillips, a 33-year-old salesman at the auto dealer, was speaking with the prospective customer around 2:10 p.m. on Aug. 21 when Spann committed the robbery before speeding away in a Cadillac.

Investigators obtained warrants to search the phones of both man and learned of their plan, the prosecutor’s office said. Data from Spann’s phone also showed he was in the area on the day of the robbery.

Both men were arrested Thursday — Phillips in Green

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car

Portland Trail Blazers’ Damian Lillard enters the car dealership game

Portland Trail Blazers guard Damian Lillard has partnered with Brian Sanders to open Damian Lillard Toyota in McMinnville.

While Lillard having his name attached to a car dealership is certainly notable, the hook here is that the business seeks to reinvent the car buying experience.

The site, referred to as the “Lillard Toyota Campus,” features more than just motorized vehicles. There’s a ping pong table, several pop-a-shot hoops, and black and red decorated donuts representing Lillard’s jersey number.

“The goal was to make a car dealership that didn’t feel like a car dealership,” Sanders said.

Sanders and Lillard met during his rookie season (2012-2013) and have been friends ever since. Sanders, formerly the general manager at Dick Hannah Toyota, said he and Lillard wanted to create an environment where people wanted to hang out even if they weren’t seeking to buy a car.

During the planning process, Lillard, according to

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Foundation Automotive Corp. Announces Asset Purchase Of Chrysler Dealership In North Vancouver

VANCOUVER, BC, Oct. 1, 2020 /PRNewswire/ – Foundation Automotive Corp., is proud to announce the purchase of the dealership assets of Destination Chrysler Jeep Dodge Ram North Shore, adding a new dealership to their presence in British Columbia.  Effective October 1, the dealership will operate under the name Foundation North Vancouver Chrysler Dodge Jeep Ram.  In this venture, Foundation Automotive will become a part of the North Vancouver automotive market, one of the most dynamic markets in North America.

“High praise to the Destination team for their participation and thank you to everyone at the Foundation team for their relentless support in adding another FCA franchise to the Vancouver area,” says Adam Mounzer, Dealer Partner of Foundation Squamish Chrysler Dodge Jeep Ram.

Owing in part to its strong leadership and an all-star executive management team, Foundation Automotive has an innovative business model that has proven resilient

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