Pinnacle Mergers & Acquisitions Facilitates the Sale of Three Texas Dealerships

News provided by

Aug 06, 2024, 13:00 ET

Julie Herrera and Idea Auto Group have acquired South Austin Nissan; Bravo Auto has acquired Baytown Nissan, while Mike Terry and Jarryd Carver have acquired Hyundai of Silsbee.

SOUTHLAKE, Texas, Aug. 6, 2024 /PRNewswire/ -- Pinnacle Mergers & Acquisitions, a nationwide auto dealership brokerage firm, has recently completed three successful transactions in the Texas automotive market: South Austin Nissan and Baytown Nissan, both owned by Central Automotive Group and Hyundai of Silsbee owned by Dale Early. The latest transactions mark over 200 dealerships in Texas sold by Pinnacle.

South Austin Nissan was acquired by Julie Herrera, expanding IDEA Auto Group in her solo venture, and will now operate under City Limits Nissan. Herrera started IDEA Auto Group in 2022, spinning off from the Cavender Auto Family and naming her company using the letters representing her vision of inclusion, diversity, and equity in automotive. This year, IDEA Auto debuted on Automotive News' list of the top 150 dealership groups in the U.S., ranking No. 126, with 8,380 new vehicles sold in 2023.

Bravo Auto Group, owned by Raymond Palacios, purchased Baytown Nissan, which will operate under the same name. Palacios is originally from Houston, and this marks Bravo's first store in the Houston market. Bravo has five other stores in Victoria, El Paso, and Las Cruces, New Mexico. Mike Sims, president of Pinnacle Mergers and Acquisitions, brokered the transaction.

Mike Terry and Jarryd Carver acquired Hyundai of Silsbee through their new partnership E1T1 Auto Group. This marks Terry's fifth Texas store and third brand since becoming a dealer in 2019. The store will operate as Mike Terry Hyundai and is the first newly formed partnership store. Carver currently operates three stores in Virginia. Wes Hamilton, executive vice president of Pinnacle Mergers and Acquisitions, brokered the transaction.

"With the ever-changing landscape of the automotive business, we continue to see a strong market for dealership acquisitions in top markets across the country," Sims said. "Our team's extensive industry experience and relationships continue to deliver above-market results for our clients."

With over 60 years of combined experience as intermediaries on both the buy-side and sell-side of transactions, Pinnacle remains dedicated to integrity and customer success, a commitment that has guided them for the past three decades. Leveraging their unparalleled industry knowledge, the Pinnacle team continues to excel as intermediaries, always willing to help their clients achieve their goals as buyers or sellers.

To learn more about the services offered by Pinnacle Mergers & Acquisitions or to receive a confidential consultation, visit www.pinnaclemergers.com.

Media Contact: Nikki Jones, [email protected]

SOURCE Pinnacle Mergers & Acquisitions