FRESNO, Calif.--(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 Scott Biehl on the sale of the Mercedes-Benz of Fresno dealership franchise to Alpha Auto Group (“AAG”), a rapidly expanding consolidator of auto retailers across North America.
The purchase by AAG is its first expansion into California and is also the first Mercedes-Benz dealership in the AAG family, joining Acura, BMW, Honda, Hyundai, Mini, Subaru and Toyota among its 13 dealerships.
“It was essential for us to find an outstanding buyer, someone we were comfortable with, especially for our team in Fresno,” said Scott Biehl, dealer principal of Mercedes-Benz of Fresno. “Knowing The Presidio Group would lead this effort put everyone at ease. They accomplished all of our goals. Their experience and professionalism is second to none.
“Working with The Presidio Group gave me a great deal of confidence that this transaction would be seamless,” Biehl said. “The commitment we’ve made to the employees, and the greater Fresno community, will continue under the leadership of AAG.”
AAG welcomes the addition of the Mercedes-Benz brand in California. Through June 2022, the California market share for Mercedes-Benz increased to 4.2 percent for new vehicles sold, compared with 3.9 percent in 2021, according to the California New Car Dealers Association.
“We are thrilled to welcome our new Fresno teammates to the AAG family,” AAG said in a statement. “Adding Mercedes-Benz to our lineup has long been a goal of ours. We are excited to add the dynamic California market to our portfolio. It is a strategic addition and building block for our growth. We pledge to uphold the high standard that Scott and his colleagues set in Fresno.”
Said Presidio President and Partner George Karolis: “Presidio’s clients return to us because we understand their goals. We have a longstanding relationship with Scott Biehl, so when we matched him and AAG, we knew both parties would emerge as winners.”
“We treat people like we want to be treated,” said Presidio Group Founder and CEO Brodie Cobb. “With Scott, like all others, we want clients for a lifetime. That’s our mindset and we feel we have achieved those goals here.”
Richard Rasmussen, a partner with Lagerlof, LLP, served as legal counsel to the seller.
J. Gregory Humphries, a partner with Shutts & Bowen, LLP, served as legal counsel to the buyer.
The Presidio Group provided exclusive M&A advisory services to Scott Biehl 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 210 transactions for more than $14 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 and Atlanta. 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.