GP1) ON SALE OF STERLING MCCALL HYUNDAI SOUTH LOOP IN HOUSTON, TX

Revealed: Jun. 23, 2022 at 9:53 AM CDT

FORT LAUDERDALE, Fla., June 23, 2022 /PRNewswire/ — Haig Partners LLC, served as the distinctive promote-side advisor to Team 1 Automotive, Inc. (NYSE: GP1) on the sale of its Sterling McCall Hyundai South Loop dealership positioned in Houston, TX to Steele Automobile Group (“Steele”).

Group 1 is a publicly traded car retailer that ranks fourth on Automotive News Best 150 Dealership Teams. In 2021, it created $13.5B in revenue and retailed 307,000 new and utilised automobiles.

Steele is Atlantic Canada’s major auto dealership team with 55 new car dealerships, seven employed automobile dealerships, three powersports dealerships and eight collision facilities. It expanded into the US recently. Sterling McCall Hyundai is its sixth dealership situated in the US, all in Texas. The dealership will be rebranded Steele South Loop Hyundai.

Haig Companions is the leading obtain-promote advisory organization to auto, truck and RV sellers in the U.S. The firm has represented 21 clients who qualify for Automotive News Major 150 Dealership Group, extra than any other advisory organization. With the sale of Sterling McCall Hyundai South Loop, the crew at Haig Associates has been included in the purchase or sale of 79 dealerships in Texas, also a lot more than any other advisory business.

“It was an honor to characterize Team 1 Automotive in the sale of Sterling McCall Hyundai South Loop in Houston. Sometimes the finest purchaser for a dealership is located correct future doorway. But in this case, our course of action surfaced the greatest consumer in Canada, 2,500 miles absent,” claimed Alan Haig, President of Haig Partners. “This transaction is additional proof that many buyers are intrigued in growing into Texas. With significant populace progress, low taxes and a organization-friendly weather, Texas, Florida, and other very similar marketplaces bring elevated dealership values. The transaction also demonstrates that demand for dealerships stays substantial even nevertheless the macroeconomic outlook is troubled at the minute. Dealerships are continue to generating file degrees of earnings, so prospective buyers want much more of them.”

Haig Associates LLC helps sellers maximize the value of their corporations. The staff at Haig Companions has unmatched experience with former executives from top retail seller teams and fiscal institutions. They have led the buy or sale of much more than 560 dealerships totaling $8.5 billion through their careers. Haig Partners leverages its skills and associations with selected dealership prospective buyers to lead customers via a private and customizable profits method to crank out the highest doable cost. Haig Associates concerns the Haig Report, the top field quarterly report that tracks traits in automobile retail and their impression on dealership values, and are co-writer of NADA’s Manual, “Buying and Advertising a Dealership.” For much more info, visit www.haigpartners.com.

Aimee Allen
Director of Promoting and Enterprise Growth
Haig Associates
[email protected]

View original content material to obtain multimedia:

Resource Haig Companions

The earlier mentioned press release was offered courtesy of PRNewswire. The views, views and statements in the press release are not endorsed by Gray Media Group nor do they necessarily point out or replicate people of Gray Media Team, Inc.