FORT LAUDERDALE, Fla. – Haig Companions LLC, served as the special market-aspect advisor to Group 1 Automotive, Inc. (NYSE: GP1) on the sale of its Sterling McCall Hyundai South Loop dealership found in Houston, TX to Steele Auto Group (“Steele”).
Group 1 is a publicly traded vehicle retailer that ranks fourth on Automotive Information Top rated 150 Dealership Groups. In 2021, it created $13.5B in profits and retailed 307,000 new and used autos.Steele is Atlantic Canada’s greatest auto dealership team with 55 new auto dealerships, seven utilized car dealerships, a few powersports dealerships and eight collision centers. It expanded into the US just lately.
Sterling McCall Hyundai is its sixth dealership located in the US, all in Texas. The dealership will be rebranded Steele South Loop Hyundai.
With the sale of Sterling McCall Hyundai South Loop, the staff at Haig Partners has been associated in the buy or sale of 79 dealerships in Texas, also far more than any other advisory agency.
“It was an honor to represent Group 1 Automotive in the sale of Sterling McCall Hyundai South Loop in Houston. From time to time the ideal customer for a dealership is positioned appropriate up coming doorway. But in this scenario, our process surfaced the very best buyer in Canada, 2,500 miles absent,” stated Alan Haig, President of Haig Companions. “This transaction is more proof that lots of customers are intrigued in growing into Texas. With substantial population development, low taxes and a organization-welcoming local climate, Texas, Florida, and other very similar markets bring elevated dealership values. The transaction also demonstrates that need for dealerships stays superior even nevertheless the macroeconomic outlook is troubled at the minute. Dealerships are still making record levels of income, so purchasers want much more of them.”