Automotive Acquisitions in 2024

Larry Van Tuyl, through VT Companies, has acquired Groove Toyota from Summit Automotive Partners. The acquisition gives Van Tuyl his first dealership presence in Colorado as he expands his multi-state automotive portfolio.

Puget Collision has acquired Bob Thomas Auto Body, Inc., a long-running CARSTAR franchise and Tesla-certified collision repair shop in northeast Portland. The deal — which expands Puget to 54 locations and adds its first Tesla-certified facility in Portland — was completed as owners Jeff and Karen Smith retire; Focus Advisors represented the sellers.

SNG Group Limited (SNG Barratt) has merged with specialty automotive parts suppliers Moss Motors and Rimmer Bros to form a combined group that is a portfolio company of Radial Equity Partners. The combination brings together manufacturing, R&D, sourcing and distribution capabilities across the UK, Europe and the U.S., expanding product availability for classic and contemporary British marque vehicles and other marques.

Joe Hudson's Collision Center (JHCC) acquired Cliff's Hi-Tech Body Shop in Essex, Maryland, marking JHCC's 250th location. The acquisition is part of JHCC’s ongoing geographic expansion and comes alongside the opening of two new greenfield locations in Georgia.

Kunes Auto & RV has acquired Wisconsin RV World in DeForest, Wisconsin from Christine Eagan and the Eagan family. The family-owned dealership will remain at its current location and become part of Kunes' regional network as the buyer expands its RV retail footprint in Wisconsin.

Classic Collision, a national multi-site collision repair operator based in Atlanta, acquired Collision Centers of Colorado Springs (a franchise), Nob Hill Body Shop (Colorado Springs, CO), and Flowers Extreme Collision (Burke, TX). The acquisitions add three repair locations to Classic Collision's network as the company expands its presence in Colorado and Texas.

Les Schwab Tire Centers has acquired Four States Tire & Service in a strategic move to expand its regional footprint across Colorado and New Mexico. FOCUS Investment Banking advised Four States Tire & Service on the sale; the deal is intended to broaden Les Schwab’s retail and service presence while preserving the target’s customer- and community-focused operations.

Sonic Automotive, Inc. has acquired Audi New Orleans, a franchised Audi dealership located in Metairie, Louisiana, from the Bohn Brothers Automotive Group. The deal marks Sonic's first franchise automotive location in Louisiana, expands its Audi footprint to 10 dealerships and brings its total franchise portfolio to 108 locations nationwide.

Quality Collision Group (QCG), a McKinney, Texas-based MSO backed by Susquehanna, has acquired Auto Crafters Auto Body & Paint in Layton, Utah. The family-run, I-CAR Gold Class certified shop will join QCG's growing portfolio as the company expands its presence in Utah.

Sonic Automotive acquired Motorcycles of Charlotte and Motorcycles of Greensboro from Mark and Gail Engel, expanding its Sonic Powersports footprint in the Southeast. Performance Brokerage Services served as sell-side advisor and both dealerships will continue operating at their current locations in North Carolina.

Aramco, through its wholly owned subsidiary Aramco Asia Singapore Pte. Ltd., has completed the acquisition of a 10% equity stake in Horse Powertrain Limited based on an enterprise valuation of €7.4 billion. Renault Group and Geely (via Geely Holding and Geely Auto) each retain 45% stakes; the investment formalises a strategic partnership to advance powertrain technologies, synthetic fuels and lubricants and accelerate lower‑carbon mobility solutions.

WAI Global has acquired Pos Service Holland (PSH) from Nordian Capital Partners, expanding WAI's presence and capabilities in Europe. PSH, headquartered in Zoetermeer, Netherlands, supplies high-quality rotating electrical solutions (starters, alternators) across automotive, truck, agricultural, shipping and industrial end markets.

Victory Automotive Group has acquired Advantage Toyota (now Victory Toyota of Barboursville) and Ball Toyota (now Victory Toyota of Charleston) from Shawn and David Ball. Haig Partners served as exclusive sell-side advisor for the transaction as Victory expands its portfolio to 55 dealerships across 11 states.

Penske Automotive Group, Inc. has completed the acquisition of Porsche Centre Melbourne from Porsche Retail Group Australia Pty Ltd. The purchase adds the dealer as Penske’s third Porsche location in Melbourne (25th worldwide) and is expected to contribute approximately $130 million of annualized revenue, bringing Melbourne Porsche revenue to an estimated $260 million.

Hinduja Tech Limited, a Chennai-based mobility-focused engineering and R&D company (a subsidiary of Ashok Leyland), has completed the acquisition of Germany-headquartered TECOSIM Group. The deal expands Hinduja Tech's footprint in Europe and adds TECOSIM's virtual validation, simulation and body engineering capabilities to its global mobility engineering offering; TECOSIM has over 650 employees across multiple countries.

Warren Henry Auto Group, a privately owned Florida dealership group, has completed the acquisition of Kia of Key West. The dealership will operate as part of the Keys Auto Center family and continue operations at 2826 N Roosevelt Blvd in Key West, Florida, bringing the location into Warren Henry's expanding Florida portfolio.

Yelp Inc. has completed its acquisition of RepairPal, an online auto services platform, for approximately $80 million in cash. The deal brings RepairPal’s certified network of U.S. repair shops and related technology into Yelp to expand its local services offerings.

Vitu has entered into a definitive agreement to acquire Dealertrack’s registration and titling businesses (RTS, RegUSA, Accelerated Title and CMS) from Cox Automotive. The transaction, backed by Accel-KKR, is a divestiture by Cox Automotive intended to consolidate titling and registration capabilities under Vitu; terms were not disclosed and the deal is subject to customary closing conditions.

Big Brand Tire & Service, a Percheron Capital portfolio company, has acquired Robertson Tire’s 14 locations in the Tulsa, Oklahoma area. The Robertson family will remain involved in leadership as Big Brand integrates Robertson’s service centers to expand its multi-state footprint (Percheron noted the company also acquired Tires To You in the same expansion push).

Classic Collision, a national multi-site collision repair operator based in Atlanta, acquired Bowditch Collision Center in Newport News, Virginia. The acquisition expands Classic Collision’s presence in the Hampton Roads market and brings Bowditch’s renovated facility and team into Classic’s Virginia operations; the former owner, Casey Rosinski, will exit following the sale.

Sheehy Auto Stores has purchased Bill Kidd's Timonium Toyota (Timonium, MD) and Bill Kidd's Volvo Cars (Hunt Valley, MD) from the families of Charlie and Peter Fenwick and Bill Kidd (with Lisa Kidd). The acquisition expands Sheehy's Mid-Atlantic footprint and brings a Toyota store (approx. 1,500 new cars/year) and a Volvo franchise into its dealer group as the dealerships will be rebranded and operated under Sheehy.

Cumberland County Auto Group, led by Greg Munoz and Sal Iannuzzi, has purchased Vann Chrysler Dodge Jeep Ram in Vineland, New Jersey from long-time owner George Vanderheyden. The franchised dealership will be renamed Vineland Chrysler Dodge Jeep Ram and becomes the group's fourth New Jersey location.

Spotless Brands, a super-regional car wash operator and portfolio company of Access Holdings, acquired Bluebird Express Car Wash and Epic Shine Car Wash, adding 15 operating locations and expanding Spotless into Idaho and Oregon. The add-ons increase network density in the Intermountain region and Pacific Northwest and will be integrated into Spotless’ centralized operating model; financial terms were not disclosed.

MidOcean Partners has acquired Arnott Industries, a global leader in aftermarket air suspension products, from Calera Capital. The acquisition strengthens MidOcean's auto aftermarket platform and will support Arnott's growth through organic initiatives and strategic M&A; financial terms were not disclosed.

Grafiti Holding Inc., a former subsidiary of XTI Aerospace that was renamed Damon Inc., completed a business combination with Damon Motors, making Damon Motors a wholly‑owned subsidiary of the combined company. The combined company (Damon Inc.) was approved for a Direct Listing on the Nasdaq Global Market under ticker DMN, with a pro‑forma equity value of approximately $300 million; XTI Aerospace received Damon securities and completed a 1‑for‑50 distribution of Damon shares to its record date shareholders.

Main Street Auto, a multi-location auto repair platform based in Atlanta, acquired Dennis Quick Auto Service & Sales, Inc., a full-service auto repair and tire shop in Snyder, Texas. The transaction, which closed on November 18, 2024, transfers ownership from longtime owner Bubba Dennis to Main Street Auto and expands Main Street Auto's footprint and service capacity in West Texas, where Dennis Quick serves a predominantly commercial (oil field) customer base.

Investor Andy Unanue purchased Sutherlin Nissan of Vero Beach from Sutherlin Automotive Group; the dealership will operate as Nissan of Vero Beach. Pinnacle Mergers & Acquisitions represented seller Sutherlin Automotive Group in the transaction, which the seller said supports portfolio/brand-mix optimization.

Halifax Group completed a growth investment in Universal Air Conditioner, LLC (UAC), a Mansfield, Texas–based designer and distributor of aftermarket HVAC components for cars, trucks and heavy-duty equipment. Co-CEOs Francisco Coll and Sophia Coll Crowley will remain in leadership and retain a significant ownership stake as Halifax provides the company’s first institutional capital to support expansion and platform-building in the automotive aftermarket.

B‑On Global completed a €110 million buyout of Deutsche Post DHL’s EV manufacturing business (historically associated with StreetScooter), with KingsRock Advisors acting as sole financial advisor to B‑On. The transaction transfers ownership of the EV manufacturing operations in Germany from Deutsche Post DHL Group to B‑On Global, supporting B‑On’s expansion of commercial electric vehicle manufacturing capabilities and fleet solutions.

Utah-based Burt Brothers Tire & Service Inc. has acquired both Tire Buster's service centers in Payson and American Fork, Utah, in a transaction effective November 9. The locations will continue operating under the Tire Buster's name and existing employees will be retained as Burt Brothers expands its statewide footprint.

Clay Cooley Auto Group has acquired Don Davis Chrysler Jeep Dodge Ram in Arlington, Texas and rebranded it as Clay Cooley Chrysler Jeep Dodge Ram. The acquisition expands Clay Cooley's dealership footprint in the Dallas–Fort Worth market and is intended to enhance service offerings and customer experience in Arlington. Financial terms were not disclosed.

Clay Cooley Auto Group has acquired Don Davis Ford in Arlington, Texas, and will operate the location as Clay Cooley Ford. The acquisition expands Clay Cooley's presence in the Dallas–Fort Worth market and brings the dealership's sales, service and parts operations under the Clay Cooley brand.

Clay Cooley Auto Group has acquired Don Davis Nissan, a Nissan dealership in Arlington, Texas, expanding Clay Cooley’s presence across the Dallas–Fort Worth market. The acquisition will integrate Don Davis Nissan into the Clay Cooley network to provide expanded inventory, enhanced service options, and continued community engagement.

Brixey & Meyer Capital (BMC) has acquired Smith Equipment Solutions, a Raleigh, North Carolina-based provider of sales, installation and field service for automotive aftermarket shop equipment. The transaction — closed October 31, 2024 — is BMC's second add-on to its automotive equipment platform (following its recent ProMain purchase) and the sellers, Wil and Emily Smith, will retain an ownership stake.

Bestop, a Kinderhook-backed automotive accessories manufacturer, acquired myTop LLC, the developer of the industry’s first power‑actuated soft tops, and will integrate the technology into a new eTop product line for Jeep Wrangler and Ford Bronco. The deal—Bestop’s tenth add‑on—is intended to expand Bestop’s product capabilities in the aftermarket and broaden its market reach.

Atlantic Coast Automotive has acquired two Florida dealerships — Audi Lakeland (Lakeland, Fla.) and Volkswagen Brandon (Brandon, Fla.) — from Qvale Auto Group. The transaction, completed Nov. 5, was advised exclusively by The Presidio Group and expands Atlantic Coast Automotive’s dealer footprint across the East Coast.

Corwin Automotive Group has purchased Groove Honda in Colorado Springs, Colorado; the transaction was facilitated by Pinnacle Mergers & Acquisitions and the dealership will operate under the Corwin Honda name. The press release did not disclose the selling party or transaction financials.

Quality Collision Group (QCG) has acquired LaMettry's Collision, a family-owned multi-shop operator in the Minneapolis–St. Paul area, adding 14 locations and bringing QCG's national footprint to 85 OEM-certified facilities. The deal integrates LaMettry's OEM-focused capabilities — including Tesla authorization and numerous luxury-brand certifications — into QCG's MSO platform; financial terms were not disclosed.

Standard Motor Products, Inc. (SMP) has completed the acquisition of AX V Nissens III APS ("Nissens") from Nordic private equity firm Axcel and the Nissen family for approximately $390 million (€360 million), net of cash and assumed debt. The deal brings the Denmark-headquartered thermal-management and aftermarket air‑conditioning supplier into SMP’s portfolio to create an aftermarket leader across North America and Europe and drive cross‑selling and synergies.

NexaMotion Group (NMG), the NexaMotion/Transtar platform backed by Blue Point Capital Partners, has acquired City Auto Supply and 4M Parts Warehouse as add-on acquisitions to expand its general repair distribution footprint. The deals broaden NMG's presence on the West Coast (San Francisco/Oahu) and in North Texas (17 locations) and deepen product and service capabilities; terms were not disclosed.

Brixey & Meyer Capital (BMC), a Cincinnati-based private investment firm, has acquired Professional Maintenance & Equipment, Inc. (PME), a Wade, North Carolina-based distributor and service provider of aftermarket automotive shop equipment. PME's founders Mark and Steven Holden will remain in leadership roles and retain ownership stakes as BMC positions PME for geographic and service/product expansion as part of a broader aftermarket automotive equipment investment strategy.

A111 Capital has completed a majority buyout of Burnyzz, an Ocala, Florida-based classic car restoration, sales and service business. The transaction is supported by subordinated debt and equity investments from Farragut Capital Partners, NewSpring Mezzanine (NewSpring Capital), Pine Street Capital Partners and Salem Investment Partners to fund Burnyzz’s continued growth and capacity expansion while founder/management remain in place.

Classic Collision acquired Bo's Collision Center, including its two Ocala, Florida locations (Bo’s Collision West and East). The family-owned business has served Marion County for more than 50 years; Classic Collision said the deal expands its presence in Florida and brings the shop into its national network.

HOLT Truck Centers (a HOLT Group operating company) has acquired Kyrish Truck Centers, a family-owned operator of 20 International Motors, Fleetrite Truck Parts, Idealease, and Longhorn Bus dealerships and service centers in Texas. The deal brings HOLT’s total locations to 35, makes it the third-largest International Motors dealer in the U.S., and transfers roughly 550 Kyrish employees to HOLT while preserving Kyrish’s Longhorn Bus brand in Texas.

IAMaga, the African regional structure of NEXUS Automotive International, has acquired BTR to expand supplier services and transactional capabilities across Africa. The acquisition will enable IAMaga to act as a supplier sales agency and transactional hub, improving access to business opportunities and integrating SCOA to bolster OEM parts access for members.

Beyer Automotive Group, a Virginia-based dealer group that retails over 7,000 vehicles and generates ~ $400 million in annual revenue, was sold in two transactions advised by Haig Partners. Open Road Capital (backed by Bain Capital) acquired the Northern Virginia dealerships on October 10, 2024, while dealer investors Jim Keffer and Jon Alcorn purchased the Winchester dealerships (now operating as Dogwood Automotive Group) in a separate closing on August 30, 2024.

Atlas Holdings has agreed to acquire SRG Global from Guardian Industries and has also acquired REHAU Automotive from the REHAU Group, combining the two businesses to form RESRG Automotive. Terms were not disclosed; the transactions create a global platform for coated exterior systems and components and are expected to enhance capability and scale across SRG's and REHAU's footprints.

Classic Collision, LLC acquired Conch Paint & Body, a long-standing family-owned collision repair shop in Key West, Florida. The acquisition expands Classic Collision's footprint in the Florida Keys and adds another local repair center to its national multi-site network.

Classic Collision, an Atlanta-based national multi-site collision repair operator, acquired Factory Finish, a collision repair shop in Bellevue, Washington. The seller was former owner Jeff Casady; Classic said the acquisition expands its local presence and adds a state-of-the-art facility to its network.

Dobbs Tire & Auto Centers, a PE‑backed regional tire and automotive service platform headquartered in High Ridge, Missouri, has acquired Automotive Super Center (ASC), a multi-location automotive repair and tire retailer based in Longview, Texas. The deal marks Dobbs' first buy‑and‑build add‑on as it expands into the Texas market and grows its store footprint.