- Aug 31 2016
- Alan Haig
- Press Release
Lumberton, NC, August, 2016 – Haig Partners LLC is pleased to have represented the owners of Lumberton Ford-Lincoln in the sale of their dealership to Crossroads Automotive Group, one of the largest dealer groups in North Carolina and Virginia.
Two of the former owners, Carl Meares and David Small said, “For a number of reasons, the time was right for us to consider selling our dealership which has been owned by our families for many decades. We wanted a buyer that understood the value of our business and would continue to take great care of our customers and our long-time associates. And we wanted a confidential process so our operations were not disrupted. The team at Haig Partners gave us a clear idea of the value of our business and ran a process that delivered to us the best buyer. We were pleased to complete a transaction with Glenn Boyd and his Crossroads family and wish them much success.”
Alan Haig and Mike Toth of Haig Partners LLC were the financial advisors and Greg Humphries of Shutts & Bowen served as legal counsel to Lumberton Ford-Lincoln.
Alan Haig said, “We have had the pleasure of advising clients on the purchase or sale of six Ford dealerships in the past two years. These dealerships can generate impressive financial results and buyers are attracted to the returns Ford stores can provide. We believe the buy-sell market will continue to be active for the remainder of 2016 as groups like Crossroads have capital and are looking to expand.”
Crossroads Automotive Group operates 16 dealerships, including 12 Ford dealerships. It is one of the largest privately owned dealership groups in North Carolina and Virginia. Gordon Brown of Brown & Bunch served as legal counsel to Crossroads.
About Haig Partners.
Haig Partners LLC is the leading advisory firm for owners of higher value dealerships and dealership groups. The value of transactions they have closed in the past two years is approximately $800 million. Since 1996, its founders have completed 153 dealership transactions totaling over $3.5 billion, more than any other team in the industry. 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.