Lone Star State Store Sells
The 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.
More Industry
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →