We’re seeing a diverse group of buyers in the auto dealership world these days. Family offices and private equity firms get the most attention as they hale from outside the auto industry. The manufacturers seem to be increasingly more comfortable with these types of buyers. That may be because the buyers themselves are becoming more knowledgeable regarding what the OEs look for.
I recently talked with a buyer of a Ford dealership in Texas that, while very familiar with dealerships, was new to the auto business. I was struck by how familiar the themes William Doggett touched on regarding successfully operating heavy equipment dealerships were. I had discussed the same issues with many auto dealership owners.
I came away thinking that the manufacturer likely didn’t have to think very hard about approving the Doggett Heavy Equipment Group as a buyer. Read my story in this issue and let me know if you agree.
That deal came together after a dealership broker mentioned to the Doggett Group that the owner of the Ford store was interested in selling. I don’t know how much additional work that broker did in putting the deal together. The services provided by a buy sell professional can vary widely, from mere introductions to deep dives to determine a dealership’s value, and an in-depth search to find just the right buyer.
In this issue, George Taylor of law firm Burr & Forman LLP writes about the value-added a broker can bring to a dealership buy sell to help answer the question “Is a broker right for you?”
And of course we have Transaction News.