SAN FRANCISCO--(BUSINESS WIRE)--The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, advised the ownership of Atlanta Classic Cars in the sale of its Mercedes-Benz and Commercial Truck dealerships in Duluth, GA to Krause Auto Group.
The transaction was completed on March 16, 2020. Terms were not disclosed.
“We are immensely proud of Atlanta Classic Cars and the great success we have enjoyed for 45 years. It’s been a privilege for my family to work alongside our dedicated team in providing the classic Mercedes-Benz experience to customers in the Greater Atlanta area,” said Johanna Ellis Reisinger, President and Dealer Principal of Atlanta Classic Cars. Ellis Reisinger continued, “The team at Presidio is incredibly professional and provided thoughtful guidance throughout the sales process, which ultimately resulted in a great outcome for the Atlanta Classic Cars family. We are confident that Krause Auto Group is the best choice to build upon the legacy of Atlanta Classic Cars in serving team members, customers and the community as a whole.”
“Atlanta Classic Cars is a well-respected and top performing Mercedes-Benz dealership that complements our existing footprint in Atlanta and strengthens both our relationship with Mercedes-Benz and our company’s overall automotive retail portfolio,” said Vernon Krause, Chief Executive Officer of Krause Auto Group, owner of 15 retail automotive franchises in the U.S., including nine automotive franchises in the greater Atlanta area.
George Karolis, President of Presidio, stated, “We are honored to have been selected by Johanna and her family to advise them in the sale of their long-standing family business. This transaction demonstrates the market demand for well-run, luxury franchises. We expect the automotive retail M&A environment to remain active throughout 2020 as growing dealership groups continue to focus on strategic expansion of their dealership portfolios.”
Billie Ellis of Winston & Strawn served as legal counsel to Atlanta Classic Cars, and Eric Gregory of The Gregory Law Group served as legal counsel to Krause Auto Group.
The Presidio Group provided M&A advisory services to the ownership of Atlanta Classic Cars 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. To date, Presidio has closed 90 auto retail transactions worth more than $5.2 billion and is a leader in the automotive retail sector. They also publish 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.