Haig Partners Advises Royal Honda On Sale To Hudson Automotive Group
NEW ORLEANS, Jan. 14, 2019 /PRNewswire/ -- Haig Partners LLC is pleased to have represented Vernon and Steven Brinson in the sale of Royal Honda to Hudson Auto Group ("Hudson").
"I am proud of the team at Royal Honda. Together, we built one of the finest Honda dealerships in terms of performance and customer service," said Vernon Brinson. "But the time came for my son, Steve, and his new partners to build the store to even greater heights. David Hudson proved to be an excellent partner in this sale process and I know he and Steve will continue to provide great service to our many loyal customers. I also want to thank Alan Haig at Haig Partners. He and his team helped to find us a high quality buyer and structure a complex transaction where Steve would remain an owner and continue to operate the business."
Steve Brinson added, "I am excited to be part of the Hudson team and look forward to building an even brighter future for our associates and customers."
Alan Haig and Mike Toth were the financial advisors to Mssrs. Vernon and Steven Brinson. Steven Huggins of Hannis T. Bourgeois, LLP provided accounting advice and Grant Coleman of King & Jurgens, LLC served as legal counsel for the Brinsons. Travis Horton of Henderson, Hutchinson & McCollough, PLLC provided accounting advice and Jeff Roberts of Underwood & Roberts, PPLC provided legal advice to Hudson.
"The M&A market continues to be active, particularly for highly attractive dealerships such as Royal Honda. It was a pleasure to help the Brinsons achieve their goals. One noteworthy aspect of this transaction is that Steve Brinson remains a partner in the dealership and will continue to lead operations there. This is our second transaction in the past six months in which one of the selling shareholders remains as a partner and the operator. We expect we will see more of these transactions as some consolidators prefer the stability that these structures provide, and as they seek more talent to help them grow. From the seller's perspective, this type of transaction allows the older generation to get full liquidity while their son or daughter continues to build their career."
David Hudson, CEO of Hudson Auto, said, "We are thrilled to add Royal Honda to our rapidly growing family of dealerships. The Brinsons built a high performing business and we are very pleased to be partnering with Steve to learn from their success and to help take the store to the next level." Founded in 1948, Hudson Auto Group has grown to 17 dealerships in six states. For more information, please visit hudsonauto.com.
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 speaker is 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.
Contact:
Alan Haig
954-646-8921
[email protected]
SOURCE Haig Partners
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