Canadian Alpha Automotive Group Expands in U.S.
Canada’s Alpha Auto Group expanded its US holdings into a second state in November with the purchase of its first Mercedes-Benz store in Fresno, California.
The transaction to acquire Mercedes-Benz of Fresno, with Scott Beale and Triunity Automotive Group as the sellers, closed on Nov. 22, according to Presidio Plc, an investment bank and advisory firm based in Atlanta and Denver. Group president George Carolis said. The company represented the seller in the transaction.
Alpha Auto Group said in a statement: “We are thrilled to welcome our new teammate from Fresno to the AAG family. We are excited to add the California market to our portfolio, which is a strategic addition and building block for our growth.”
The deal also included the sale of Central Valley Fleet Sales & Service, a used-vehicle retailer and fleet services business in Fresno, to Alpha Auto, Karolis said. car news on mail.
Alpha Auto of Toronto, Ontario entered the US in 2018 with the acquisition of Wilsonville Toyota and Wilsonville Subaru of Oregon. According to the group’s website, in Canada and the United States he is looking to acquire a single dealership and a dealership group with about 20 stores.
Biehl said he no longer has a dealership. Triunity Automotive sold Jaguar-Land Rover Los Angeles to his US Auto Trust in August. The US Auto Trust is a group of dealers led by Edward Glazer, owner of the NFL’s Tampa Bay Buccaneers. Biehl was his principal dealer at the store, and the Presidio Group also made the sale on behalf of him and his Triunity Automotive.
Raymond acquires second new car dealership
Jerry Raymond Automotive, president of Jerry Raymond Automotive, purchased a second new car dealership, the Jerry Raymond Chrysler Dodge Jeep Ram, in Brookville, Western Pennsylvania, in October.
Drew Picon, managing director of Dave Cantin Group’s DCG Acquisitions, said he represented both buyers and sellers in the Oct. 27 transaction.
The sales dealer was William J. Kelly, a former Kelly Chrysler Jeep Dodge Ram shop.
Raymond made his first dealership acquisition in 2021, buying a former Team Chevrolet Buick GMC in Wintersville, Ohio, west of Pittsburgh. Renamed Jerry Raymond Chevrolet Buick GMC. Picon said his DCG Capital, another of his Dave Cantin group companies, facilitated the previous acquisition.
Raymond has participated in DCG Capital’s Ownership Accelerator Program. This program helps franchise dealers and used car dealership managers and executives make their first new car dealership purchases.
Financing for the Stellantis dealership acquisition was provided by Live Oak Bank, and the buyer was also supported by consultants Biltmore Automotive Services.
Raymond said in a phone interview that he sought out a Stellantis dealer for his second purchase. “I already own a Chevrolet, Buick and GMC, so I was looking to diversify myself and my customers with more brands.
Brookville, Pennsylvania, is a rural market, Raymond says, which has the advantage of a large area with few other vendors around it.
“There is a lot to do in the surrounding area. I think customers really want a company like ours with a more proactive approach,” he said. “Within a 40 mile radius or he 50 mile range, there aren’t that many dealers nearby.”
According to his son, Kelly’s father, William S. Kelly, a former auto industry executive and former CEO of Saab Cars USA, acted as an unofficial advisor in negotiations for the sale.
William J. Kelley said the Chevrolet Buick GMC store is his only dealer. Dealers are in demand and the current seller’s market is a determining factor in sales, he said.
“I’m going to retire — for now,” Kelly said, adding, “It’s time to sell.”