HAIG PARTNERS ADVISES LEIGH AUTOMOTIVE (MERCEDES-BENZ OF TUSCALOOSA) ON SALE TO SMITH AUTO GROUP, INC.
- Jun 07 2016
- Alan Haig
- Press Release
Tuscaloosa, AL, June 7, 2016 – Haig Partners LLC is pleased to have represented the owners of Leigh Automotive in the sale of their dealership (Mercedes-Benz of Tuscaloosa) to Smith Auto Group.
The former majority owner, Jack Leigh, said, “I am pleased that our dealership is being purchased by another family owned auto group. I truly enjoyed my years as a Mercedes-Benz dealer and I know John Smith and his team will continue to take great care of our customers and associates. I would also like to thank Haig Partners as I have learned through this process that it’s not so easy to sell a dealership, even a Mercedes store. Their high level of professionalism and knowledge of the industry were invaluable in delivering me the right terms from the right buyer.”
Alan Haig and Nate Klebacha of Haig Partners LLC were the financial advisors to Leigh Automotive.
Alan Haig said, “This transaction demonstrates that private buyers remain very interested in luxury dealerships which can make attractive profits even in smaller markets. We continue to see strong demand from dealership buyers who like the returns they can get in auto retail.”
“I am thrilled to join the community of Tuscaloosa and to become a dealer for Mercedes-Benz,” said John Smith, CEO of Smith Auto Group. “General Manager Greg Peeples and his team here have been doing a fantastic job and we look forward to growing along with Tuscaloosa.”
Mike Waters from Jones Walker LLP provided legal counsel to Leigh Automotive. For Smith Auto Group, Robert Bass of Bass Sox Mercer served as transaction counsel and Robert Davis of DHG LLP provided acquisition advisory services.
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 been involved in the purchase or sale of over 250 dealership transactions totaling over $3.5 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 haigpartners.com.