Fort Worth, TX, December 15, 2014 – Haig Partners LLC is pleased to have represented the owners of Texas Motors Ford in the sale of their dealership to Asbury Automotive Group, one of the largest dealership groups in the country. Texas Motors Ford is one of the top 100 Ford stores in the U.S. and Asbury Automotive reported in its press release that its annual revenue is approximately $140 million.
Cliff Johnson, the majority owner of Texas Motors Ford, said, “I congratulate the fine folks at Asbury Automotive who have purchased a remarkable dealership with an excellent team of employees. I know they will all do well here in the future. And I am grateful to Alan Haig and Nate Klebacha at Haig Partners who helped me and my family to realize the full value of what we built here in Fort Worth.”
Alan Haig said, “This transaction reflects several trends in the buy-sell market for auto dealerships. Texas remains a highly desirable market for auto dealers. Store profits are high and likely to get higher. Also, the Ford brand is much in demand by leading buyers, particularly in markets where trucks are big sellers. And finally, the overall market for dealership sales remains strong with many buyers looking to grow.” This is the second large Ford dealership Haig Partners has sold in December.
Dan Hoops of Shackelford, Melton and McKinley was counsel to the sellers.
About Haig Partners. Haig Partners LLC is the leading dealership advisory firm that focuses on dealership transactions valued between $20 million and $200 million. Since 1996, its founders have completed over 150 dealership purchases and sales totaling over $3 billion, more than any other team in the industry. The current edition of Haig Partners Blue Sky Report is available here. For more information, visit www.haigpartners.com.