TIM LAMB GROUP BROKERS SALE OF FOLSOM LAKE CHRYSLER DODGE JEEP RAM DEALERSHIP IN FOLSOM, CALIFORNIA TO ORIGINAL OWNERS, FIFTH WAVE AUTOMOTIVE GROUP
April 17 2024 - 3:49PM
Steve Corle, Director of the Plains Region for the Tim Lamb Group,
headquartered in Columbus, Ohio, the largest auto dealership sales
and acquisitions firm in North America, has brokered the sale of
Folsom Lake Chrysler Dodge Jeep Ram in Folsom, California. On
Wednesday, April 3, 2024, the sale went through as Victory
Automotive Group sold Folsom Lake CDJR back to its original owner,
Fifth Wave Automotive Group. Carlos Hidalgo, President of
Fifth Wave built the dealership in 2001, sold it in 2010 to York
Capital who then sold the property to Victory Automotive Group.
Hidalgo, is excited to have the dealership back in his family after
14 years. The dealership, which will keep its name, Folsom Lake
Chrysler Dodge Jeep Ram, and is located at 12545 Folsom Blvd., in
Folsom, California.
“I built Folsom Lake CDJR from the ground up
back in 2001. It was my first dealership, and I was sad to
sell it, but the timing was right,” states Carlos Hidalgo.
“When Steve Corle with the Tim Lamb Group reached out with this
opportunity, I knew I had to jump on it. I have always liked
the location and I know that the Bay area has become a truck market
electrifying the rest of the world,” said Hidalgo. Staffing
will include a mixture of current Victory Automotive employees as
well as Fifth Wave employees, some of which who have been on staff
since 2001.
Family-owned, Fifth Wave Automotive, currently
owns Stockton Hyundai (Stockton, CA) and San Leandro Chrysler Dodge
Jeep Ram (Leandro, CA) where they are an excellent performer with
the Chrysler Dodge Jeep Ram brands. “I was really looking for
a store that would allow me to concentrate on trucks, and I believe
I found it. I look forward to growing the brand even further,
offering a bigger variety of vehicles, and concentrating more on
trucks. This store was ranked number one in volume sales for
7 years in a row when I previously owned it, and my goal is to
accomplish that again,” stated Hidalgo. In approximately two years,
Folsom Lake CDJR will undergo a series of renovations that will
enlarge the 52,000 square foot space by an extra 9,000 square
feet. The new space will allow for additional service stalls,
and a new Jeep showroom on the property. “There are a lot of
unique characteristics of the building, and I think it will be fun
to play with the architecture to create an updated design that will
fit all of our growing inventory,” stated Hidalgo. “I
can’t say enough about Steve Corle! His knowledge of the
Chrysler brand is very impressive. Steve and I met years ago
when he was working for Chrysler. When he left and started
working with the Tim Lamb Group, we continued to stay in
touch. He had done his research before he reached out to
present me with the opportunity to purchase the Folsom Lake
Chrysler store. He was extremely knowledgeable about the
brand and was on top of the negotiations between me and Victory
Automotive Group. We closed in about 45 days, and if it
wasn’t for Steve, I don’t think that would have been possible,”
stated Hidalgo.
Fifth Wave is more than just a dealership that
will bring in a bigger variety of vehicles, they are a family-run
company that is excited to come back to the neighborhoods
surrounding Folsom, California. Folsom Lake CDJR will once
again work with local organizations and initiatives to support and
give back to the community.
Victory Automotive Group is a family-owned
company, started over 25 years ago by Jeffrey Cappo, and is
headquartered in Canton, Michigan. Cappo now works alongside
his sons Eric and Michael, who are involved in the daily operations
of their 50+ locations, in eleven states including Ohio, Michigan,
California, Massachusetts, Florida, Texas, Indiana, Tennessee, West
Virginia, North Carolina, and Illinois. Victory Automotive
Group represents fourteen of the best automotive brands.
“Victory Automotive Group and Fifth Wave both
had processes in place to handle buying and selling. Each
team worked hard to ensure a smooth transaction. I would like
to thank Victory Automotive Group for their continued trust in the
Tim Lamb Group, and I wish Carlos Hidalgo and the Fifth Wave Group
much success with their new dealership,” stated Corle.
For more information on Tim Lamb Group visit,
https://timlambgroup.com/
About Tim Lamb GroupSince
2006, Tim Lamb Group has been the number one choice
for dealers looking to sell, or purchase, a new vehicle
dealership. Fifteen regional directors manage billions of
dollars per year in transactions for multiple dealer operators in
every part of the United States and Canada.
The Group has leveraged their factory management experience and
retail dealership background to become the largest auto dealership
sales and acquisitions firm in North America. For more
information and dealerships for sale,
visit www.timlambgroup.com.
- Fifth Wave Automotive closes on Folsom Lake Chrysler Dodge Jeep
Ram in Folsom, CA on April 3, 2024.
- Tim Lamb Group Closes the sale of Folsom Lake Chrysler Dodge
Jeep Ram to Fifth Wave Automotive.
Dawn Kelley
Expand Marketing Group
734-765-1429
DawnK@ExpandMarketingGroup.com
Katrina Luts
Expand Marketing Group
586-747-7418
KatrinaL@ExpandMarketingGroup.com