Haig Partners LLC is proud to have represented Sonnen Motorcars LLC ("Sonnen") in the sale of its Sonnen Porsche, Audi Marin and Sonnen Volkswagen dealerships to indiGO Auto Group ("indiGO").
"It has been my pleasure to be a dealer of Porsche, Audi and VW automobiles for many years in Marin County, but the time had come for me to retire and spend more time with my family," said Peter Sonnen, the majority owner. "I am thankful for the many associates who helped me to serve our customers. And I am grateful to my advisors who guided me in the sale of my dealerships. Alan Haig and Nate Klebacha at Haig Partners found me the best possible buyer for the dealerships and were true professionals all the way through to the end. They made sure that everything turned out the way I wanted. I trusted them and they delivered."
"Marin County is one of the most beautiful and desirable communities in the United States," Todd Blue, indiGO CEO, said in a statement. "With the acquisitions of Porsche Marin, Audi Marin and Volkswagen, our indiGO team, led by our President Kelly Wolf, sees these communities as a perfect match for the indiGO Auto Group, bringing the indiGO way to this area and these brands which we are so honored to represent." indiGO is a subsidiary of Pon Holdings, a Holland based company with diverse assets in the transportation industry.
Alan Haig and Nate Klebacha of Haig Partners were the financial advisors to Sonnen, while Stephen Dietrich of Holland & Knight, LLP served as legal counsel. Robert Bass of Bass Sox Mercer provided legal services to indiGO, while Louie Galbraith of DHG provided accounting and consulting services.
Alan Haig, President of Haig Partners, stated, "We have known Peter Sonnen for almost a decade and it was an honor and a pleasure to assist him in the sale of his dealerships. These brands are an ideal fit with the Northern California market and we were able to run a highly confidential process with IndiGO which understood the value of the dealerships and was excited to grow into Northern California. We wish indiGO much success. This transaction shows that the automotive buy-sell market remains active as consolidators continue to search for acquisition opportunities that fit their strategies. Dealership profits remain strong and credit is available and inexpensive. Many dealers see returns on investment from acquiring dealerships to be superior to other uses of their capital."
JOIN HAIG PARTNERS AT NADA. Dealers are invited to join Haig Partners and other industry experts at the 7th annual Buy/Sell Summit and 26th annual Dealer/CEO/CFO Forum Friday, February 14th in Las Vegas. Click here for the full agenda and to register.
Haig Partners LLC is a boutique investment banking firm that focuses on auto/heavy truck/RV dealers and the companies that serve them. It is the leading buy-sell advisory firm to owners of higher value dealerships and dealership groups. Since 1996, the principals at Haig Partners have completed 180 dealership transactions totaling $5.0 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.haig partners.com.