SAN FRANCISCO--(BUSINESS WIRE)--The Presidio Group LLC, through its subsidiary Presidio Merchant Partners LLC, advised Rene Isip and John Eagle on the sale of their Toyota of Lewisville dealership in Lewisville, Texas, to RLJ-McLarty-Landers Automotive Holdings LLC. The Little Rock-headquartered buyer is ranked 19th on the Automotive News annual list of Top 125 Dealership Groups and number one on the annual Black Enterprise 100’s auto list for 2013.
The transaction was completed on August 26, 2013. Terms were not disclosed.
“It was a rewarding experience to build Toyota of Lewisville into one of the premier Toyota dealerships in Texas,” said Mr. Isip. “But with the current market, this was an opportune time to sell to a strong buyer and invest our capital in franchises that suit our group’s abilities to grow revenues and earnings from the ground up. John and I were impressed that Presidio was able to find a buyer who recognizes the value our team at Toyota of Lewisville has created.”
None of the other nine dealerships owned by Isip and Eagle is for sale. Indeed, they plan on adding to their auto holdings in future years. The John Eagle Automotive Group, for example, will open Honda of Rockwall, Texas in September.
“We are pleased to expand our presence in the Dallas-Fort Worth market and become part of the Lewisville community. We look forward to serving the people there with the same level of care as we do in our other locations across the United States,” said Franklin McLarty, CEO of RLJ-McLarty-Landers. “We are excited to expand our relationship with Toyota in one of the strongest car markets in the country.”
According to Alan Haig, Managing Director at Presidio and head of the firm’s automotive practice, “The sale of Toyota of Lewisville shows that the market for auto dealerships is very healthy and that private groups are often the leading buyers. They have the capital, the expertise, and the confidence to tackle very large opportunities. The appetite for Texas dealerships is especially strong: this is the second company we’ve sold there this year and both were performing remarkably well. It’s good to be a dealer in Texas.”
Shackleford Melton & McKinley served as legal counsel for Toyota of Lewisville, while Arent Fox represented RLJ-McLarty-Landers. Accounting services were provided by Crowe Horwath to RLJ-McLarty-Landers and Dixon Hughes Goodman to Toyota of Lewisville.
Presidio’s automotive practice focuses on dealership transactions over $10 million in value. Presidio’s professionals have closed more than 150 auto retail related purchases, sales, and capital raises totaling more than $4.5 billion. They publish Presidio’s Automotive Retail Buy-Sell Report, a leading source of information on auto retailers and acquisition activity, write for Dealer Magazine on current buy/sell trends, and speak at industry conferences, including NADA, NADC, NAMAD, and AIADA.
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 its professionals in San Francisco, Dallas, Newport Beach and Fort Lauderdale. Presidio Merchant Partners LLC is a member of FINRA and SIPC. For more information on Presidio’s auto retail practice, visit www.thepresidiogroupllc.com.