Swickard Auto Group completes second purchase, continues growth in Southern California market
THOUSAND OAKS, CA — March 15, 2023 — 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 Anderson Autos of Thousand Oaks on the sale of three dealerships to the Swickard Auto Group of Las Vegas, Nevada.
The sale to Swickard Auto Group completes the second phase of a transaction that began in December 2022. The second phase of the sale includes Buick GMC, Cadillac and Chevrolet dealerships in Thousand Oaks. In December, Anderson Auto sold Swickard five dealerships comprised of seven franchises. That transaction included Acura, Honda, Jaguar, Land Rover, Lexus, Mercedes-Benz and Commercial Van dealerships.
“We are excited to finalize the second part of this transaction with Swickard Auto Group,” said William S. Anderson, CEO of Anderson Holdings. “The Presidio Group did an outstanding job facilitating both phases of the sale. I know Jeff Swickard looks forward to welcoming our team members from these next three dealerships and providing them the opportunity to continue to thrive under his leadership.”
Swickard Auto Group also operates dealerships in California, Alaska, Oregon, Texas and the state of Washington. The three new domestic dealerships in the latest transaction doubles the number of domestic dealerships owned by Swickard.
Swickard Auto Group CEO Jeff Swickard expressed gratitude for the opportunity to acquire multi-generational owned dealerships from the Anderson family and acknowledged the strategic acquisition as a significant milestone in the company’s continued expansion in Thousand Oaks and greater Los Angeles. While the business grows and diversifies its brands, Swickard said he remains committed to upholding the Anderson legacy and serving the local communities, colleagues, and customers with empathy and professionalism.”
Said Presidio President and Partner George Karolis: “Presidio treats every transaction with the customized care it needs. When we look to match buyer and seller, we are mindful of the years of hard work that hundreds of people poured into building these dealerships. So finding that ideal buyer like Swickard Auto, in this case, is a task we set about deliberately and with great thought and care. We are grateful to be part of this process and pleased with the result for both teams at Anderson Autos and Swickard Auto.”
Said Presidio Group CEO Brodie Cobb: “The buy-sell market has started off strong in 2023, continuing the robust ride from the year before, which is a great sign for our customers. Whatever the market, our goal at Presidio remains to provide world-class service and be a trusted partner for this year and beyond.”
Aaron Jacoby and David Meyer, partners with Arentfox Schiff, LLP, served as legal counsel to the seller.
Michael Fletcher, a partner with Tonkon Torp, LLP, served as legal counsel to the buyer.
The Presidio Group provided exclusive M&A advisory services to Anderson Autos through its wholly owned investment bank, Presidio Merchant Partners LLC.
The Presidio Group LLC 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 done 215 transactions for more than $14 billion. It also publishes Presidio’s Where the Rubber Meets the Road, a leading source of information about the automotive retail landscape and the automotive retail M&A environment. The Presidio Group is based in Denver and Atlanta. 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.