Luxury dealership franchises acquired by owner of Jaguar Land Rover Newport Beach
SAN JOSE, CA — March 16, 2021 — The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Bruce Qvale on the sale of his Jaguar Land Rover Stevens Creek dealership franchises to US Auto Trust.
“We turned to The Presidio Group to find the right buyer for our San Jose dealership because of their expertise and knowledge of the market,” said Bruce Qvale, President of Qvale Auto Group Inc. “Presidio’s process and professionalism are second to none.”
“We were delighted to have the opportunity to acquire our second Jaguar Land Rover dealership in California,” said Matt Kaiser, President of US Auto Trust. “This strategic acquisition expanded our dealership footprint into the highly-desirable San Jose market.”
US Auto Trust also owns the Jaguar Land Rover Newport Beach dealership franchises.
The San Francisco Bay Area, with a population of close to 10 million, is a hotbed of technological and business innovation. In the heart of Silicon Valley, San Jose is home to multinational corporations including Cisco Systems, Hewlett Packard, and eBay and has a median household income of over $100,000.
“The Qvale family has a storied history in the California auto industry,” said Brodie Cobb, founder and CEO of The Presidio Group. “Working with Bruce Qvale to find the right buyer for this exceptional luxury dealership was a privilege.”
“We were honored to work with Bruce Qvale to make this transaction happen,” said George Karolis, President of The Presidio Group. “Luxury brands such as Jaguar and Land Rover are in high demand and the closing of this transaction is another reflection of the strength of the dealership M&A market.”
Karolis added: “Presidio has now represented our clients in the sale of nine franchises in 2021, with many more transactions currently in process. We expect 2021 to be one of the most active years on record for automotive M&A.”
The Qvale Auto Group was founded by Bruce Qvale’s father Kjell Qvale in 1947 to import MG sports cars, and later the VW Beetle, to the West Coast. Kjell Qvale was the co-founder and chairman of the first Pebble Beach Concours d’Elegance and is a member of the British Sports Car Hall of Fame.
Presidio provided exclusive M&A advisory services to Bruce Qvale 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 200 transactions for over $12.6 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. Presidio’s offices are located in San Francisco, CA and Atlanta, GA. 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.