MOBILE, Ala.--(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 Group 1 Automotive Inc. (NYSE: GPI) on the sale of Nissan of Mobile in Mobile, Ala., to Tameron Gulf Coast, a dealership group in Daphne, Ala.
For Tameron Gulf Coast, the acquisition of Nissan of Mobile gives it a sixth dealership along the popular and growing Gulf Coast. Tameron already owned a Subaru store in Mobile; Honda, Buick-GMC and Chrysler-Dodge-Jeep-Ram-Fiat dealerships in Daphne; and a Kia store in nearby D’Iberville, Miss. Tameron also will be adding a Hummer outlet soon.
“Buying the Nissan store and expanding our footprint in Mobile gives Tameron the ideal opportunity to better leverage our name and brand along the Gulf Coast,” said Ryan Mayer, owner of Tameron Gulf Coast. “With our increased size and visibility in the market, we look forward to helping satisfy the transportation needs of even more customers. We thank Presidio and its expert professionals for facilitating this deal.”
The transaction was finalized on July 31.
“It has been an honor to help Group 1 Automotive execute this important transaction,” said Alex Watterson, managing director of The Presidio Group. “This store is a great fit for Tameron Gulf Coast, and the Presidio team is thrilled we could play a role in this transaction’s successful outcome.”
“This transaction demonstrates the ongoing strength of the dealership buy-sell market, and we expect the appetite for dealmaking to continue,” said George Karolis, president of The Presidio Group. “We are so pleased to help Group 1 and Tameron Gulf Coast execute this important deal.”
The Presidio Group provided exclusive M&A advisory services to Group 1 Automotive through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Group 1 Automotive
Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 300 company headquartered in Houston, is one of the largest automotive retailers operating across the world. Group 1 owns 202 auto dealerships operating 271 franchises and representing 35 brands in the United States and United Kingdom. Group 1 also owns and operates 42 collision centers. Through its dealerships and AcceleRide omnichannel digital retailing platform, the company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. For additional information, visit www.group1auto.com.
About Tameron Gulf Coast
Tameron Gulf Coast is a full-service dealership group based in Daphne, Ala., and operating six stores along the Gulf Coast in Alabama and Mississippi. Tameron Gulf Coast offers a wide selection of new and used vehicles, related financing services and vehicle repair and maintenance services. For more information, visit www.tamerongulfcoast.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 approximately 265 transactions for about $18 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.