KSA Industries Sells Stores, Exits Auto Business
Diversified holdings company believed to be raising cash to help fund new Nashville stadium.
The dealerships changed hands in two separate transacations, two in April and one in May.
IMAGE: Alena Darmel, Pexels
This past spring, diversified holdings company KSA Industries Inc. sold its three Texas dealerships in two transactions, indicating the company that also owns the National Football League's Tennessee Titans has exited the automotive retail business.
Two Lincoln stores were sold on April 6 by KSA Industries. Chris Poulos bought West Point Lincoln and West Point Lincoln of Sugar Land in Houston, transitioning from general manager to owner in the process. He kept the dealership names the same.
In a second transaction, KSA Industries sold West Point Buick-GMC in Houston on May 2 to Tom Durant, owner of Classic Auto Group. He renamed the store Classic Elite Buick-GMC.
KSA Industries, a privately held family business, was founded by Bud Adams, who died in 2013.
It is believed that KSA Industries Inc. is raising cash following approval in April to build a $1.9 billion Nashville stadium to replace Nissan Stadium. A combination of private and public funding will finance the new stadium.
Bank of America provided guidance to KSA Industries in the transactions.
Originally posted on Auto Dealer Today
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