Haig Partners Serves As Exclusive Sell-Side Advisor On Sale Of CarMax Kenosha Toyota
FORT LAUDERDALE, Fla., Oct. 4, 2021 /PRNewswire/ -- Haig Partners LLC, the leading buy-sell advisory firm to higher value auto, heavy truck and RV dealers, was the exclusive sell-side advisor to CarMax in the sale of CarMax Kenosha Toyota to the Rydell Company.
"We made the decision to sell our Kenosha Toyota new car store to allow us to continue to focus on our core business of delivering an exceptional used car buying and selling experience," said Enrique Mayor-Mora, chief financial officer at CarMax. "We appreciate the strong relationship we have with Haig Partners and have worked with Kevin Nill for more than 20 years. Our experience with the company enhanced our trust and confidence that we would be represented with integrity and ensure this transaction would be completed successfully."
This divestiture by CarMax completes the disposition of their new car dealership franchises and highlights the decision by leading auto retailers to sell dealerships that do not fit their future growth strategy. In the past year, Haig Partners has represented five groups in the top 25 of the Automotive News Top 150 Dealer Groups in selling non-core dealerships, allowing them to redeploy capital in other areas of strategic growth.
"The team at Haig Partners appreciates the continued trust CarMax has in our firm to support their strategic focus on their used car operations. We are honored to have been the exclusive sell-side advisor on the sale of the CarMax Kenosha Toyota store as well as the previous sale of CarMax Laurel Toyota. We are grateful for the opportunity to bring our depth of relationships and industry expertise to CarMax, enabling us to navigate all aspects of this sale and match CarMax with a great organization," commented Kevin Nill, Partner with Haig Partners.
The sale of Kenosha Toyota represents the 6th Toyota transaction Haig Partners has represented in the past year.
Haig Partners LLC is a boutique investment banking firm and the leading buy-sell advisory firm to owners of higher value auto, heavy truck, and RV dealerships. Since 1996, the principals at Haig Partners have completed more than 280 dealership transactions for more than 535 dealerships totaling over $7.9 billion, more than any other team in the industry. For more information, visit www.haigpartners.com.
Media Contact:
Aimee Allen
[email protected]
SOURCE Haig Partners LLC
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