SAN FRANCISCO--May 24, 2012: The Presidio Group LLC, through its subsidiary, Presidio Merchant Partners LLC, is pleased to have advised John Eagle on the sale of his two Florida dealerships, Honda of Panama City and Volkswagen of Panama City, to Group 1 Automotive, Inc. .
“We're selling our Florida dealerships so that we can concentrate on our Texas operations”
Eagle will continue to own and operate seven dealership locations in Texas. Terms of the transaction were not disclosed.
"We're selling our Florida dealerships so that we can concentrate on our Texas operations," said Eagle. "It was a sensitive transaction. In Presidio, we found an advisor who was able to provide excellent strategic and tactical advice on a whole range of issues important to our dealership group. They also valued confidentiality as much as we did, and ran a professional process that brought us an excellent buyer on terms that worked for both sides. Group 1 will give our former employees great career opportunities through their large presence along the Gulf Coast, and take good care of the many customers that we enjoyed serving in Panama City."
Alan Haig, Managing Director at Presidio and head of the firm's automotive practice stated, "This transaction is an excellent example of how well run franchises are particularly attractive to public auto retailers, like Group 1, and well-capitalized private buyers. Sellers can get good prices and buyers can get good returns. Congratulations to both John Eagle and Group 1."
"It was a privilege to work with John Eagle and his outstanding dealership group on such an important strategic transaction," said Brodie Cobb, Founder and President of The Presidio Group LLC. "We were pleased to bring the capabilities of our leading automotive M&A and capital advisory teams together to plan and execute such a successful outcome for John Eagle."
Presidio's automotive practice focuses on dealership transactions valued between $20 million and $300 million. Presidio's professionals have closed more than 150 auto retail related purchases, sales, and capital raises totaling more than $4.5 billion. They also publish Presidio's Automotive Retail M&A Market Update, a leading source of information on auto retailers and acquisition activity.
About The Presidio Group LLC. The Presidio Group LLC is a personal and corporate financial services firm with approximately $4 billion in client assets. Through its interconnected investment banking, private equity, and wealth advisory units, Presidio is uniquely capable of addressing the lifecycle challenges of wealth -- from its creation, through its retention and growth, to its transfer to successive generations. The firm's principals have extensive experience running businesses, creating wealth of their own, and understanding and managing risk. Presidio and its subsidiaries currently serve clients throughout the United States, through offices in San Francisco, Dallas, Chicago, Newport Beach and Chapel Hill. Presidio Merchant Partners LLC is a member of FINRA and SIPC. For more information on Presidio's auto retail practice, visit Presidio Automotive.