Growing California dealership group adds additional luxury franchises
LOS ANGELES, CA – August 3, 2022 — 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 Scott Biehl on the sale of the Jaguar Land Rover Los Angeles dealership franchises to US Auto Trust.
“Choosing to work with The Presidio Group was the easiest part of my difficult decision to sell our Jaguar Land Rover dealership,” said Scott Biehl, dealer principal of Jaguar Land Rover LA. “The professionals at Presidio are hands down the very best in the business.”
Mr. Biehl added: “After building a new state-of-the-art dealership and growing this business into one of the largest Jaguar Land Rover dealerships in the country, I wanted to find a buyer that would continue to support our employees and the local community. I have known George Karolis, President of The Presidio Group, for many years and had confidence that he and his team would fulfill all of our objectives. I could not be more pleased with the outcome.”
“We are excited to expand our Jaguar Land Rover holdings in California, a huge luxury brand market,” said Matt Kaiser, President of US Auto Trust. “The Presidio Group understood this strategic acquisition fit perfectly with our growth strategy and it was a pleasure to once again work with them. We welcome the JLR LA team members to the US Auto Trust family and look forward to building on the foundation Scott and his team have built with this business and in the community.”
US Auto Trust also owns Jaguar Land Rover San Jose and Jaguar Land Rover Newport Beach, and recently acquired Cadillac Pasadena and Land Rover Pasadena.
Jaguar Land Rover LA is the number one volume Jaguar Land Rover store in the Los Angeles market. California is both the largest retail auto market in the U.S. and the leader in luxury sales. The luxury segment gained market share in first quarter of 2022 compared to the same period last year, according to the California New Car Dealers Association.
“We were honored to work with Scott Biehl on the strategic sale of Jaguar Land Rover Los Angeles,” said George Karolis, President of The Presidio Group. “Finding the ideal buyer for these franchises, one that allowed Scott to meet his financial and personal goals, was our aim and with US Auto Trust we succeeded.”
“Working with Scott was a privilege,” said Brodie Cobb, President of The Presidio Group. “Building trust based on long-term relationships with our clients is our top priority.”
Richard Rasmussen, a partner with Lagerlof, LLP, served as legal counsel to the seller. Timothy Robinett, a partner with Manning, Leaver, Bruder & Berberich, LLP, served as legal counsel to the buyer.
The Presidio Group provided exclusive M&A advisory services to Scott Biehl 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 over 210 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.