Haig Partners Advises Boniface Hiers Automotive Group On Recent M&A Activity
MELBOURNE, Fla., Jan. 22, 2019 /PRNewswire/ -- Haig Partners LLC is pleased to have represented Boniface Hiers Automotive Group in the sale of its Infiniti of Melbourne dealership to the Kelly Auto Group.
"It's very unusual for us to sell any dealerships. However, our strategy is to focus on higher volume franchises so it was no longer a strategic fit for us," said AJ Hiers, President of Boniface Hiers Automotive Group. "We will miss working with our former associates and customers, but we believe they are in excellent hands with Kelly Auto who is already a very successful dealer in the market operating Kelly Ford of Melbourne. We also want to thank the team at Haig Partners. They ran a highly effective, confidential process to identify the best possible buyer for us. Their experience and client focus were evident and we valued and appreciated their advice and support throughout the process. It gives you great confidence knowing you have the best team in your corner."
Boniface Hiers also acquired Rosner Chevrolet in Melbourne in December. The name has been changed to Boniface Hiers Chevrolet and furthers the group's strategy of operating high volume franchises in Melbourne and Merritt Island, FL. Click here to learn more about the Boniface Hiers Automotive Group.
Mike Toth and Alan Haig of Haig Partners were the financial advisors to Boniface Hiers Automotive Group. Robert Bass of Bass Sox Mercer served as legal counsel.
"We were honored to represent Boniface Hiers Automotive Group in the sale of this dealership," said Mike Toth. "While it is normal for large groups to divest stores that are no longer strategic to them, we knew that the Boniface Hiers organization highly values their employees and also are focused on strong OEM partner relationships, so we needed to find a buyer who would continue both of these practices. The Kelly Auto Group met the criteria and proved to be an excellent partner in the transaction. We wish Tim, Greg and their team much success in the future."
"We couldn't be more excited to expand our footprint in Melbourne. The team at Infiniti of Melbourne is first rate and we look forward to serving many more customers in Melbourne," said Tim Kelly. "Although we have known AJ for years, the Haig Partners team was critical in arranging this transaction. We thank them for their professionalism."
JOIN HAIG PARTNERS AT NADA. Dealers are invited to join Haig Partners and other industry leading experts at the 6th annual Buy/Sell Summit and 25th annual Dealer/CEO/CFO Forum Thursday, January 24 in San Francisco. This year's keynote speakers are Brian Benstock, GM and VP of the largest Honda and Acura dealerships in the world that deliver 1,000 new units per month, and former White House Chief of Staff and legendary car dealer Mack McLarty. Click here for the full agenda and to register.
About Haig Partners. Haig Partners LLC is the leading advisory firm for higher value dealerships and dealership groups. Since 1996, its founders have completed more than 170 dealership transactions totaling over $4.0 billion, more than any other team in the industry. The value of transactions the founders have closed in all industries is over $7 billion. They also publish the widely followed Haig Report that tracks trends in the auto industry and how they impact dealership valuations. The latest Haig Report is available here. Alan Haig is a frequent speaker at leading industry events. For more information, visit www.haigpartners.com.
Media Contact:
Mike Toth
561-302-1413
[email protected]
SOURCE Haig Partners
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