- Sep 25 2015
- Alan Haig
- Press Release
Baltimore, MD, September 21, 2015 – Haig Partners LLC is pleased to have represented the owners of Valley Motors in the sale of their dealership group to AutoNation, Inc., the largest dealership group in the US. Valley Motors operated Mercedes-Benz, Audi, Subaru and VW franchises, all located on the same campus north of Baltimore, MD.
According to previously released information, Valley Motors sold approximately 2,900 new and used vehicles and generated more than $130 million in revenue in 2014.
Charles C. Fenwick, Valley Motor’s majority owner and CEO said, “My family and I have enjoyed serving the community here for decades. We will miss our many loyal customers and the associates that helped to build Valley Motors. But the time was right for us to sell the business and the team at Haig Partners did a great job in leading a process that brought us the best buyer. AutoNation was the right company to take care of our customers and provide outstanding career opportunities for our associates. We wish them well.”
Alan Haig and Nate Klebacha of Haig Partners LLC were the financial advisors to Valley Motors. Michael Charapp of Charapp & Weiss was counsel to Valley Motors.
Alan Haig said, “The market for higher value dealerships and dealership groups remains strong as buyers continue to seek high quality transactions that fit their acquisition strategies. Valley Motors was of significant interest to many buyers since Audi, Mercedes-Benz and Subaru are some of the most desirable franchises today.”
About Haig Partners. Haig Partners LLC is the leading advisory firm for dealership purchase and sale transactions over $20 million. Since 1996, its founders have completed over 150 dealership transactions totaling over $3 billion, more than any other team in the industry. The value of transactions the founders have closed in all industries is over $6 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 also a frequent speaker at leading industry events. For more information, visit www.haigpartners.com.