The Presidio Group exclusively advises Anderson Automotive Group on the sale of Chevrolet and Nissan dealerships in South Carolina
13 Agosto 2024 - 7:30AM
Business Wire
The Presidio Group LLC (“Presidio”), an independent merchant
banking firm focused on mergers and acquisitions, capital raising
and investments in the automotive retail and consumer mobility
sectors, exclusively advised Anderson Automotive Group on the sale
of Chevrolet and Nissan dealerships outside of Greenville, S.C., to
Escude Automotive Group of Greer, S.C.
The transaction, which was finalized Aug. 12, involved Chevrolet
Easley in Easley, S.C., and Fred Anderson Nissan of Greer, S.C.,
and their related real estate. The stores are two of the seven that
Anderson Automotive Group acquired in 2023 from MCE Automotive
Group.
“After completing the MCE transaction last year, we decided to
divest these two stores and direct our resources to other needs and
opportunities,” said Fred Anderson, chairman of Anderson Automotive
Group. “We turned to our strategic advisors at Presidio who
regularly provide great advice and who we knew would be able to get
this deal done.”
“We thank our partners at Presidio for helping us get this sale
to the finish line,” said Michael Anderson, CEO of Anderson
Automotive Group. “It was a smooth and expertly managed process,
and we appreciate the knowledge and connections that Presidio
brought to the transaction.”
Buyer Escude Automotive Group is led by Mark Escude II, who had
been part of the leadership team at the stores’ previous owner MCE
Automotive.
“It was a pleasure working with the top-notch Presidio and
Anderson teams to complete this deal,” Escude II said. “The Escude
family has always taken great pride in offering our customers a
world-class experience. Our family is fortunate to call the upstate
region home, and we’re eager to get back to work serving our local
community.”
Anderson Automotive Group was established in 1955. With the
completion of this sale, the company now operates 16 dealerships
across North Carolina and South Carolina representing 12
brands.
“We at Presidio congratulate the Anderson family for the
successful completion of this deal,” said Alex Watterson, managing
director of The Presidio Group. “It’s been an honor to play a role
as this fast-growing group optimizes its core holdings in the
Carolinas.”
“We’re always grateful when a client chooses us to advise and
assist with their M&A and portfolio management activities,”
said George Karolis, president of The Presidio Group. “Anderson
Automotive Group is one of the most reputable retailers among the
top 100 dealership groups in the U.S., and it is an honor to
support Fred and Michael Anderson in their strategic efforts.”
Jeff G. Roberts, partner with Underwood & Roberts, PLLC,
provided legal counsel to Anderson Automotive Group. Selby A.
Ireland of Butler Snow provided legal counsel to Escude Automotive
Group.
The Presidio Group provided exclusive M&A advisory services
to Anderson Automotive Group through its wholly owned investment
bank, Presidio Merchant Partners LLC.
About Anderson Automotive Group
Anderson Automotive Group is a family-owned business operating
in some of the best markets in the Southeast for more than 65
years. Founded in 1955, Anderson represents 12 automotive brands
and operates 16 dealerships employing about 1,700 employees at
locations throughout North Carolina and South Carolina. Anderson
Automotive stores are deeply involved in their communities via both
leadership and philanthropic efforts. For more information, visit
www.andersonautomotivegroup.com.
About The Presidio Group LLC
The Presidio Group 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 closed
more than 275 transactions for more than $18.5 billion. The
Presidio Group, based in Denver and Atlanta, publishes Presidio
Perspectives: A Quarterly Outlook on Auto Retail and M&A
Trends, a leading source of information about the automotive retail
landscape. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240813035573/en/
Brodie Cobb (720) 844-3151 bcobb@thepresidiogroup.com
George Karolis (678) 831-5520 gkarolis@thepresidiogroup.com