Lithia continues Texas expansion with six import franchises
DALLAS, TX — September 1, 2020 — The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised John Eagle Dealerships on the sale of Honda Cars of Katy, Honda of Clear Lake, John Eagle Acura, John Eagle Honda Houston, Clearlake Infiniti and Southwest Infiniti to Lithia Motors, Inc. (NYSE: LAD)
“We are pleased that Lithia acquired our Houston area stores,” said John Eagle, CEO of John Eagle Dealerships. “We know Lithia will provide excellent support to the employees and customers. The Presidio Group’s professionalism and confidentiality allowed this complex transaction to be completed smoothly.”
“It was an honor to work with Lithia on this transaction,” said Rene Isip, President and Chief Operating Officer of John Eagle Dealerships. “The Houston market will be an excellent addition to its growing Texas footprint.”
John and Rene have both worked in the automotive retail industry for decades and would like to spend more time with their families. All the dealerships will continue to carry the John Eagle name, which is renowned for outstanding customer service.
“Adding these Houston-area stores gives us comprehensive coverage of the major cities in Texas, where we have enjoyed much success,” said Bryan DeBoer, Lithia Motors President and CEO. “These high-performing import franchises fit well with our strategic vision for the South-Central region. We are pleased to welcome these Houston-based John Eagle team members into the Lithia family.”
This is the fourth transaction in Texas in the last two months for The Presidio Group. Among the transactions was one of the largest strategic auto retail acquisitions to date.
“Working with John and Rene to structure this transaction was interesting given the size, brand concentration, and geographic breadth,” said Brodie Cobb, CEO of The Presidio Group. “The business-friendly Texas market is super-hot right now.”
“Dealership profitability in Texas remains robust making this an excellent time to invest in the Houston retail automotive market,” said George Karolis, President of The Presidio Group. “Representing the John Eagle brand was an honor.”
About John Eagle Dealerships:
John Eagle Dealerships, headquartered in Dallas, has locations in Dallas, Austin, Rockwall, San Antonio and the Houston Metroplex. Founded in 1962 by Bob Eagle with the purchase of a single Lincoln Mercury store in Dallas, the group has grown to include eleven dealerships representing Honda, Toyota, Acura, and Infiniti. They are known for their excellent customer service and service to the community.
About Lithia Motors:
Lithia Motors, Inc. is a leading provider of personal transportation solutions in the United States and is among the fastest growing companies in the Fortune 500 (#252-2020). Lithia’s rapid growth is powered by people, an industry-leading physical network and ecommerce digital home solutions. It has close to 200 locations representing all major brands reaching 92% of U.S. markets.
The Presidio Group provided exclusive M&A advisory services to John Eagle Dealerships 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 190 transactions for over $10 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 San Francisco, CA. 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.