LIVERMORE, Calif.--(BUSINESS WIRE)--The Presidio Group LLC (“Presidio”), a leading investment bank specializing in mergers and acquisitions, capital raising, and investments in the auto retail and consumer mobility sectors, exclusively advised Bruce Qvale and Qvale Automotive Group on the sale of six dealership franchises to the Umansky Automotive Group. The dealership franchises include Audi, Honda, Jaguar, Land Rover, Porsche, and Subaru in Livermore, CA.
“This was a complex transaction involving many manufacturers and it went smoothly thanks to the Presidio team’s expertise, unmatched process, and careful attention to detail. They are consummate professionals and are the best advisors in the business,” said Bruce Qvale, president of Qvale Auto Group Inc.
“This transaction, while bittersweet, marks the sale of our family’s remaining dealerships in California as we consolidate and focus our efforts on our Florida dealerships,” he added.
“This strategic acquisition of strong brands and significant volume is the ideal way for us to enter the California market,” said Dan Umansky, chairman of Umansky Automotive Group. “We look forward to continuing our tradition of world-class customer service and community involvement with the teams at these dealerships. The Presidio Group’s deep knowledge of the market and the manufacturers made this a very smooth transaction.”
Livermore, southeast of San Francisco, draws on the Silicon Valley, San Francisco, and East Bay markets. The area has a median household income of over $100,000 and is home to 38 Fortune 500 companies including eBay, Netflix, Apple, Nvidia and Gap. The Tri-Valley area, where Livermore is situated, also includes the fast-growing cities of San Ramon, Danville, Dublin, and Pleasanton. The population in the Tri-Valley area is growing twice as fast as the Bay Area as a whole.
“We were honored to again represent Bruce Qvale, a long-time friend and client, in this transaction,” said Brodie Cobb, founder and CEO of The Presidio Group. “The Qvale family has made exceptional contributions to the West Coast automotive market for many years.”
“The Qvale family made a strategic decision to exit the California market, and we were privileged to help them achieve that goal,” said George Karolis, president of The Presidio Group. “This collection of dealership franchises is an exceptional combination of luxury and volume brands that are all in high demand, especially in such a strong M&A market.”
He added: “So far in 2021, Presidio has represented our clients in the sale of 71 franchises, including Lithia’s acquisition of The Suburban Collection, the largest number of franchises sold to date in a strategic transaction. We have a very full pipeline and expect the rest of 2021 to be very active.”
The Qvale Auto Group was founded by Bruce Qvale’s father Kjell Qvale in 1947 to import MG sports cars, and later the VW Beetle, to the West Coast. Kjell Qvale was the co-founder and chairman of the first Pebble Beach Concours d’Elegance and is a member of the British Sports Car Hall of Fame.
Alex Kurkin of Kurkin Forehand Brandes, LLP served as legal counsel to Qvale. David Porteous of Evans Petree, PC served as legal counsel to Umansky.
The Presidio Group provided exclusive M&A advisory services to the Qvale Auto Group 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 200 transactions for over $13.5 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 Denver, CO and Atlanta, GA. 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.