The Presidio Group Advises on the Sale of John Eagle Dealerships in Houston Area
September 01 2020 - 10:03AM
Business Wire
Lithia continues Texas expansion with six
import franchises
The Presidio Group LLC (“Presidio”), a leading investment bank
specializing in retail automotive and related M&A transactions,
exclusively advised John Eagle Dealerships on the sale of Honda
Cars of Katy, Honda of Clear Lake, John Eagle Acura, John Eagle
Honda Houston, Clearlake Infiniti and Southwest Infiniti to Lithia
Motors, Inc. (NYSE: LAD).
“We are pleased that Lithia acquired our Houston area stores,”
said John Eagle, CEO of John Eagle Dealerships. “We know Lithia
will provide excellent support to the employees and customers. The
Presidio Group’s professionalism and confidentiality allowed this
complex transaction to be completed smoothly.”
“It was an honor to work with Lithia on this transaction,” said
Rene Isip, President and Chief Operating Officer of John Eagle
Dealerships. “The Houston market will be an excellent addition to
its growing Texas footprint.”
John and Rene have both worked in the automotive retail industry
for decades and would like to spend more time with their families.
All the dealerships will continue to carry the John Eagle name,
which is renowned for outstanding customer service.
“Adding these Houston-area stores gives us comprehensive
coverage of the major cities in Texas, where we have enjoyed much
success,” said Bryan DeBoer, Lithia Motors President and CEO.
“These high-performing import franchises fit well with our
strategic vision for the South-Central region. We are pleased to
welcome these Houston-based John Eagle team members into the Lithia
family.”
This is the fourth transaction in Texas in the last two months
for The Presidio Group. Among the transactions was one of the
largest strategic auto retail acquisitions to date.
“Working with John and Rene to structure this transaction was
interesting given the size, brand concentration, and geographic
breadth,” said Brodie Cobb, CEO of The Presidio Group. “The
business-friendly Texas market is super-hot right now.”
“Dealership profitability in Texas remains robust making this an
excellent time to invest in the Houston retail automotive market,”
said George Karolis, President of The Presidio Group. “Representing
the John Eagle brand was an honor.”
About John Eagle Dealerships:
John Eagle Dealerships, headquartered in Dallas, has locations
in Dallas, Austin, Rockwall, San Antonio and the Houston Metroplex.
Founded in 1962 by Bob Eagle with the purchase of a single Lincoln
Mercury store in Dallas, the group has grown to include eleven
dealerships representing Honda, Toyota, Acura, and Infiniti. They
are known for their excellent customer service and service to the
community.
About Lithia Motors:
Lithia Motors, Inc. is a leading provider of personal
transportation solutions in the United States and is among the
fastest growing companies in the Fortune 500 (#252-2020). Lithia’s
rapid growth is powered by people, an industry-leading physical
network and ecommerce digital home solutions. It has close to 200
locations representing all major brands reaching 92% of U.S.
markets.
The Presidio Group provided exclusive M&A advisory services
to John Eagle Dealerships through its wholly owned investment bank,
Presidio Merchant Partners LLC.
The Presidio Group LLC was founded in 1998 with the
simple mission to relentlessly put the interests of our clients
first. By steadfastly adhering to this philosophy, the firm has
earned the trust of clients throughout the United States. During
their careers, the professionals at Presidio have collectively done
over 190 transactions for over $10 billion. It also publishes
Presidio’s Where the Rubber Meets the Road, a leading source of
information about the automotive retail landscape and the
automotive retail M&A environment. The Presidio Group is based
in San Francisco, CA. Presidio Merchant Partners LLC is a
subsidiary of The Presidio Group LLC and is a member of FINRA and
SIPC. For more information on Presidio, visit
www.thepresidiogroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200901005382/en/
Brodie Cobb (415) 449-2525 bcobb@thepresidiogroup.com
George Karolis (678) 831-5520 gkarolis@thepresidiogroup.com
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