A trio of single dealership transactions in the South, plus one near Columbus, Ohio, are among recent dealership buy-sells completed in April and May.
Here’s a quick look at four separate transactions involving both domestic and import-brand stores. One also involves a new dealer.
- Stephanie Morris acquired her first dealership on May 5, buying James Hodge Chevrolet in Okmulgee, Okla., south of Tulsa. Morris bought the dealership from Jack Hodge. The store has been renamed Stephanie Morris Chevrolet. Andy Church of Dealer Solutions Mergers and Acquisitions, a buy-sell firm based in Markham, Ontario, and with a U.S. office in Jupiter, Fla., represented the seller in the transaction.
- Tony Thomas, a former partner at Hyundai of Silsbee in Silsbee, Texas, on May 19 bought Plaza Chrysler-Dodge-Jeep-Ram of Orangeburg in South Carolina. Orangeburg is a rural area south of the state’s capital city of Columbia. Thomas acquired the store from dealer Joseph Nolette who sold it to focus on his Florida dealerships, according to a news release. The dealership has been renamed Tony T Chrysler-Dodge-Jeep-Ram of Orangeburg. George Chaconas of Performance Brokerage Services, a dealership buy-sell firm in Irvine, Calif., represented Nolette in the transaction. Thomas did not use a broker.
- Bill Doraty, Stephanie Doraty and Jeff Johnson on May 17 bought Crown Kia of Dublin in Ohio from the Crown Automotive Group. The dealership was renamed Celebration Kia of Dublin. The buyers also own a Celebration Kia dealership in nearby Lewis Center, Ohio. The Tim Lamb Group, a dealership buy-sell company in Columbus, Ohio, represented the seller in the transaction.
- The Cavender Auto Group of San Antonio on April 12 bought Grande Ford in San Antonio from longtime owner Richard Kane. The store, which has a significant commercial truck department, has been renamed Cavender Grande Ford. This marks the sixth dealership and first Ford store for Cavender Auto Group. Cavender plans to build a new facility for the dealership within three years. No broker was used in the transaction.