- Apr 11 2016
- Alan Haig
- Press Release
Jacksonville, FL, April 11, 2016 – Haig Partners LLC is pleased to have represented the owners of Brumos Automotive in the sale of their dealerships to Fields Auto Group, the owner of 38 franchises in Florida, Illinois and Wisconsin. The sale included Brumos Motor Cars (Mercedes-Benz of Jacksonville), Mercedes-Benz of Orange Park, Brumos Lexus of Jacksonville, Brumos Lexus of Orange Park and Brumos Porsche.
Dan Davis, the majority owner of Brumos Automotive, said, “We have enjoyed serving our customers and working with the team members in our dealerships for many years, so it was not an easy decision to sell our company. But we are very pleased with the outcome and we wish the Fields Auto Group much success here in Jacksonville.”
Charlie Tomm, President and CEO of Brumos Automotive, commented, “We thank the team at Haig Partners. They conducted a highly professional and discrete process that led to a sale to the ideal buyer for our company. They were even there in the wee hours of the night before the closing making sure the numbers were correct.”
Alan Haig and Nate Klebacha of Haig Partners LLC were the financial advisors to Brumos. Greg Humphries of Shutts & Bowen was counsel to Brumos and Stephen Dietrich of Greenberg Traurig was counsel to Fields.
Alan Haig said, “We remain in an excellent market for buying and selling higher value dealerships and dealership groups. Brumos Automotive presented a truly rare opportunity for a buyer to acquire two Mercedes-Benz dealerships, two Lexus dealerships and a Porsche dealership in a single market that is growing rapidly and has limited competition. We congratulate John and Dan Fields on their investment and we thank Dan Davis and Charlie Tomm for the opportunity to work on their behalf.”
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 151 transactions for 260 dealerships 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 a frequent speaker at leading industry events. For more information, visit www.haigpartners.com.