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Park Place dealers find the right buyer
The Presidio Group LLC (“Presidio”), a leading investment bank specializing in automotive retail transactions and similar mergers and acquisitions, has exclusively Park Place distributors in the sale of Jaguar North Austin and Land Rover North Austin to Austin, TX to Se Automotivwelle Companies.
“Sewell’s circle of relatives is known for operating its distributors at the highest level. I’m sure they will continue to care for consumers and workers at our Austin JLR company,” said Ken Schnitzer, president of Park Place Dealerships. . “The experience of the Presidio Group has been essential to help us locate the most productive customer and execute this transaction in the midst of the primary interruption caused by COVID-19.
“We admire the Park Place organization and we are proud to share many of the same core values including our care for our customers, employees and communities,” said Carl Sewell, Chairman and CEO at Sewell. “We have been serving Texans for over 100 years and we are grateful for this incredible opportunity to now serve Austin and to add the Jaguar and Land Rover brands to our portfolio of outstanding franchise partners.”
“We have been working with Ken Schnitzer for many years and have been revered with paintings about him in this transaction,” said Brodie Cobb, founder and CEO of The Presidio Group. “Park Place brokers and Sewell’s automotive corporations are an iconic circle of groups of relatives’ runners in Texas, they praise their visitor service,” said George Karolis, chairman of the Presidio Group.
The Presidio Group provided exclusive M&A advisory services to Park Place through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Park Place Dealerships
Founded by Ken Schnitzer in 1987, Park Place Dealerships represents luxury brands Lexus, Mercedes-Benz, Sprinter, Porsche, Volvo, Land Rover, Jaguar, Koenigsegg, Rolls-Royce, Bentley, McLaren, Maserati and Aston Martin in the Dallas-Fort Worth Metroplex. For more information, visit parkplace.com.
About Sewell Automotive Companies
Sewell Automotive Companies was founded in 1911. Today, Sewell employs more than 2,700 associates and operates 17 full-service dealerships throughout the state of Texas. Sewell represents Audi (3), BMW, Buick, Cadillac (4), GMC, INFINITI (3), Jaguar, Land Rover, Lexus (2), Mercedes-Benz, and Subaru, with locations in Austin, Dallas, Fort Worth, Grapevine, Houston, McKinney, San Antonio, and Sugar Land. The company is committed to giving back and improving the communities it serves and partners with organizations that benefit education, the arts, children’s charities, and related causes. For more information on Sewell, visit sewell.com.
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 executed over 190 transactions totaling over $10 billion in transactional value. 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 San Francisco, CA. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200728005288/en/
Contacts
Brodie Cobb (415) [email protected]
George Karolis (678) [email protected]