Doggett Automotive Group expands Texas footprint with its acquisition
BEAUMONT, Texas — Feb. 13, 2024 — The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Group 1 Automotive Inc. (NYSE: GPI) on the sale of six dealerships and one collision center in Beaumont, Texas, to Doggett Automotive Group, a rapidly growing family-owned dealership group based in Houston.
The transaction, which was finalized on Feb. 7, included the sale of BMW, Mercedes-Benz, Honda, Nissan, Volkswagen and Chrysler-Dodge-Jeep-Ram dealerships, plus a collision center, all in Beaumont.
With its acquisition, Doggett Automotive Group now operates 11 dealerships and one collision center in the Houston and Beaumont markets. The group is part of Leslie Doggett Industries, a conglomerate with businesses offering sale, rental and support services for the industrial equipment, light- and medium-duty vehicle and heavy-duty truck and trailer sectors. Annual sales volume for Leslie Doggett Industries, with locations in four states and Mexico, approaches $3 billion.
Leslie Doggett Industries acquired its first franchised light-vehicle dealership in 2018 and has expanded rapidly since. The acquisition of the Beaumont stores adds several new brands to the company’s portfolio – all dealerships included in the transaction are first-time franchises for Doggett.
“We are thrilled to bring exemplary brands like BMW, Mercedes-Benz, Honda and CJDR into the Doggett family with this transaction,” said Leslie Doggett, executive chairman of Leslie Doggett Industries. “The emphasis on customer satisfaction by those acclaimed automakers matches Doggett’s focus on providing the best service possible to customers of our car dealerships and our industrial businesses over the years.
“After becoming one of John Deere’s top three dealers in North America, we’ve seamlessly transitioned our approach to exemplary customer service and unparalleled sales and support experiences into the automotive industry. It’s a different vibe and feel at our dealerships, with no stress allowed. Our dedication to our customers’ experience and attention to detail remains laser-focused, setting a high standard for customer care and satisfaction in the car business,” Doggett continued. “We hope to create a home where folks will want to come back again and again to buy their families’ cars and trucks. We appreciate the work Presidio and its expert team did to facilitate this deal.”
“Presidio is proud to have helped Group 1 Automotive execute this transaction,” said Alex Watterson, managing director of The Presidio Group. “These stores are a great addition for Doggett Automotive Group and bolster the group’s expanding footprint in Texas. We are delighted the Presidio team could arrange this successful transaction between Group 1 and Doggett Automotive Group.”
“Building trust and long-term relationships is of the utmost importance to the professionals at our firm. We are honored to again work with the leaders at Group 1 after advising them on successful transactions in 2023,” said George Karolis, president of The Presidio Group. “When our clients place such confidence in Presidio, we go to great lengths to find the best possible buyer for their dealerships. We are confident that Doggett will be a terrific operator for these stores going forward.”
The Presidio Group provided exclusive M&A advisory services to Group 1 Automotive through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Group 1 Automotive
Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 300 company headquartered in Houston, is one of the largest automotive retailers operating across the world. Group 1 owns 198 auto dealerships operating 262 franchises and representing 35 brands in the United States and United Kingdom. Group 1 also owns and operates 43 collision centers. Through its dealerships and AcceleRide omnichannel digital retailing platform, the company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. For additional information, visit www.group1auto.com.
About Doggett Automotive Group
Doggett Automotive Group is a full-service dealership group based in Houston and operating 11 luxury, import-brand and domestic-brand stores in Texas. It is part of Leslie Doggett Industries, one of Houston’s largest family-owned businesses with annual sales topping $2.5 billion from sale, rental and support services for industrial equipment and light-, medium- and heavy-duty vehicles from first-tier manufacturers including John Deere Construction & Forestry Equipment, Freightliner (Daimler Truck), LinkBelt and Toyota Industrial Equipment & Warehouse Automation. The company has operations in Texas, New Mexico, Louisiana, Arkansas and parts of northern Mexico and was founded in 1993 by Leslie Doggett and Brady Carruth. For more information on Doggett Automotive Group, visit www.doggettautogroup.com.
About The Presidio Group LLC
The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed over 270 transactions for more than $18 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.