Park Place Dealerships finds the right buyer
AUSTIN, Texas–(BUSINESS WIRE)–The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Park Place Dealerships on the sale of Jaguar North Austin and Land Rover North Austin in Austin, TX to Sewell Automotive Companies.
“The Sewell family is known for operating its dealerships at the highest level. I am confident they will continue to care for the customers and employees of our Austin JLR business,” said Ken Schnitzer, Chairman of Park Place Dealerships. “The Presidio Group’s expertise was essential to helping us find the best buyer and execute this transaction in the middle of the major disruption 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 worked with Ken Schnitzer for many years and were honored to work with him on this transaction,” said Brodie Cobb, founder and CEO of The Presidio Group. “Park Place Dealerships and Sewell Automotive Companies are both iconic family-owned Texas dealership groups renowned for their customer service,” said George Karolis, President 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.
Contacts
Brodie Cobb
(415) 449-2525
bcobb@thepresidiogroup.com
George Karolis
(678) 831-5520
gkarolis@thepresidiogroup.com
