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SEARCHThe Mitsubishi location moves from one Texas automotive group to another, continuing this year’s spate of brisk buy-sell activity.
Nick Khoury of the Khoury Group, Levi Douglass of Douglass Automotive Group, and Wes Hamilton of Pinnacle Mergers & Acquisitions pose with members of the Khoury Group team.
Pinnacle Mergers & Acquisitions
A central Texas dealership changed hands in a deal that grew a home-state auto group.
The recently closed transaction, brokered for seller Douglass Automotive Group by Pinnacle Mergers & Acquisitions, will see the store continue to operate as Waco Mitsubishi.
“I am excited to enter the Waco market with Waco Mitsubishi and to become a part of this community,” said buyer Nick Khoury, president and CEO of the Khoury Group.
The acquisition puts Khoury at nearly 20 Texas dealerships across about 10 brands. Meanwhile, Douglass dropped to four stores in Waco and the city of Bryan in east-central Texas among several Japanese brands and Volkswagen.
Dealership buy-sells jumped last year to a record, according to sell-side adviser Kerrigan Advisors, which expects continued strong consolidation this year. So far, that outlook appears to be manifesting.
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