Haig Partners Advises Huber Motor Cars On The Sale Of Two Dealerships To Safford Automotive Group
FREDERICKSBURG, Va., Nov. 5, 2019 /PRNewswire/ -- Haig Partners LLC is pleased to have represented Huber Motor Cars in the sale of its Volkswagen of Fredericksburg and Mazda of Fredericksburg dealerships to Safford Automotive Group.
"The decision to sell the Volkswagen and Mazda dealerships were part of a plan to streamline the Huber organization and we want to thank the great customers of these two franchises for allowing us to serve them over the past five years," said Clay Huber, President of Huber Motor Cars. "For the past 14 years we have been serving our Mercedes, Volvo and Collision customers in the Fredericksburg area and look forward to continuing to be the premier luxury dealership in the Fredericksburg area for years to come."
"While this was a difficult decision to sell two of our dealerships and part company with our wonderful team and customers, it was made easier knowing everyone will be in great hands with an excellent dealer, Jim Gramm and his team at Safford Automotive," Huber continued. "We also want to thank the team at Haig Partners who led a highly effective, confidential process and supported us throughout every aspect of the transaction. It was quite evident their experience, advice and attention to the client are industry leading and I had complete confidence in their ability to bring this transaction to a successful conclusion."
Kevin Nill, Mike Toth and Alan Haig of Haig Partners were the financial advisors to Huber Motor Cars. Mike Charapp of Charapp & Weiss served as legal counsel. Ed Reinhard and Stephen Bedell of Crowe, LLP provided accounting and tax services. Tom Olney of OWL Automotive Consulting, LLC served as the project manager and closing advisor.
"Buyers remain quite active with interest in desirable franchises and growing markets. Additionally, 'tuck-ins' to existing platforms are attractive as they become highly synergistic for the buyer," said Kevin Nill. "We were honored to represent Clay Huber in the sale of his Volkswagen and Mazda dealerships. Clay challenged us to find the right partner to ensure continuity for his customers and associates. The Safford organization saw these dealerships as a perfect extension of their business in the Fredericksburg market and was an excellent partner throughout the transaction. We wish both Clay and the Safford team much success in the future."
JOIN HAIG PARTNERS AT NADA. Dealers are invited to join Haig Partners and other industry leading experts at the 7th annual Buy/Sell Summit and 26th annual Dealer/CEO/CFO Forum Friday, February 14th in Las Vegas. Click here for the full agenda and to register.
For more information, visit Haig Partners at www.haigpartners.com. To request an interview, please contact Olivia Bishop at [email protected] or 315.528.5037.
Haig Partners LLC is a boutique investment banking firm that focuses on auto/heavy truck/RV dealers and the companies that serve them. It is the leading buy-sell advisory firm to owners of higher value dealerships and dealership groups. Since 1996, the principals at Haig Partners have completed 180 dealership transactions totaling $5.0 billion, more than any other team in the industry. 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.
SOURCE Haig Partners
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