World-class transaction among two famous Texas car dealership families
PLANO, Texas, Oct 05, 2021–(Organization WIRE)–The Presidio Team LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, cash increasing, and investments in the automotive retail and client mobility sectors, exclusively advised Carl Sewell and his family on the historic acquisition of Typical BMW. The transaction provided a BMW dealership franchise and a MINI dealership franchise at the exact same place in Plano, Texas.
“Considering the fact that the opening of our very first BMW store in Grapevine, Texas in 2017, we have been honored to be a BMW supplier,” claimed Carl Sewell III, president of Sewell Automotive Corporations. “With the assistance of Brodie Cobb, George Karolis, and their unbelievable group at The Presidio Team, we are thrilled to insert Typical BMW, a person of the greatest BMW dealerships in the place, to our team. We are also grateful to Eric Maas and the Maas household for this opportunity.”
“Our family members has targeted our enlargement on the highest high-quality firms, and Basic BMW is at the leading of that list,” mentioned Jacquelin Sewell, president of Sewell Automotive Organizations. “We welcome Vintage BMW and MINI to the Sewell family members and glimpse ahead to continuing the dealership’s 50-yr legacy of exceptional support to the Plano group and the larger Dallas-Fort Value area.”
Vintage BMW was founded in 1971 by Lee Maas, who worked as a manager at neighborhood Cadillac and Chevrolet shops. Common BMW commenced in a 3,000-square-foot developing, in which Mr. Maas utilized his spouse and children to aid in all features of their burgeoning organization. Fifty yrs later on, Basic BMW has grown to be the greatest BMW dealership by footprint in the U.S. with a 160,000-sf building on 24 acres in Plano, Texas.
“This dealership is a testament to my family’s passion for cars and trucks and prospects,” said Eric Maas, president of Basic BMW and director of racing functions at Speedy Monitor Racing LLC. “My household would not take into consideration advertising except we have been assured that our legacy of caring for our prospects and employees would be ongoing at the very same significant typical. The Presidio Group recognized that when they approached me about providing to the Sewell relatives, who practically wrote the e-book on buyer provider. We are specified that the Sewell Family members will have on our tradition of dealing with every client in the showroom and service drive as if they are part of our possess loved ones.”
“Presidio was privileged to operate with the Sewell loved ones in assisting them strategically develop their portfolio of higher-undertaking luxury dealership franchises in Texas,” reported Brodie Cobb, founder and CEO of The Presidio Team. “Almost never in the M&A earth do we obtain parties to a transaction that align philosophically additional than the Sewell and Maas people. We were being privileged to get the job done so intently with each on this historic Dallas transaction.”
“Classic BMW is the excellent enhance to Sewell’s terribly thriving Grapevine BMW dealership,” claimed George Karolis, president of The Presidio Group. “The Texas marketplace is just one of the most energetic in the state in what is a really healthier dealership acquisition atmosphere throughout the country.”
Sewell’s Typical Counsel, Jeff Hamilton, served as legal counsel to the customer. Winston & Strawn LLP served as lawful counsel to the seller.
The Presidio Group delivered special M&A advisory services to Sewell by way of its wholly owned expenditure bank, Presidio Service provider Associates LLC.
About Vintage BMW
Traditional BMW was established in 1971 by Lee Maas, who labored as a General Supervisor at Rodger Meier Cadillac and later at Welcoming Chevrolet in Dallas. Basic BMW started in a small, 3000-square-foot creating in Richardson, where Mr. Maas opened the initial BMW dealership in North Texas and invested a massive portion of this time educating Texans as to what BMW meant. He introduced the Bavarian Motor Functions in Texas. He chose the flag of the terrific point out of Texas as the image to be placed on each and every automobile around the license plate. Fifty several years afterwards, Vintage BMW has developed to be the premier BMW dealership by footprint in the U.S. with a campus that resides on 24 acres in Plano, Texas. Eric Maas became the president of Vintage BMW in 2003 and assisted establish the popularity as a company committed to shopper care that Traditional BMW is known for these days. Sheryl Maas, the president of Maas Modern day LLC, has been main the growth of the campus in Plano with the generation of the most important constructing in 2007, the new Mini of Plano facility, and the before long-to-be-opened Licensed Pre-Owned setting up.
About Sewell Automotive Providers
Sewell Automotive Corporations is a personal, family owned and operated dealership team launched in 1911. Right now, Sewell represents 12 automotive maker manufacturers across its 18 dealerships in the condition of Texas. Sewell represents Audi (3), BMW (2), Buick, Cadillac (4), GMC, INFINITI (3), Jaguar, Land Rover, Lexus (2), Mercedes-Benz, MINI, and Subaru, with destinations in Austin, Dallas, Fort Truly worth, Grapevine, Houston, McKinney, Plano, San Antonio, and Sugar Land. The company is committed to providing back and improving the communities it serves and associates with companies that benefit education, the arts, children’s charities, and connected leads to. For additional information on Sewell, pay a visit to sewell.com.
The Presidio Group LLC was launched in 1998 with the basic mission to relentlessly set the passions of our clientele 1st. By steadfastly adhering to this philosophy, the company has attained the have confidence in of clientele through the United States. In the course of their careers, the professionals at Presidio have collectively closed much more than 205 transactions for in excess of $13.7 billion. It also publishes Presidio’s Where the Rubber Meets the Road, a leading supply of facts about the automotive retail landscape and the automotive retail M&A surroundings. The Presidio Team has workplaces in Denver and Atlanta. Presidio Service provider Partners LLC is a subsidiary of The Presidio Team LLC and is a member of FINRA and SIPC. For a lot more facts on Presidio, take a look at www.thepresidiogroup.com.
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Contacts
Brodie Cobb
(720) 844-3151
[email protected]
George Karolis
(678) 831-5520
[email protected]