Pinnacle Mergers & Acquisitions Brokers Sale of Three Florida Dealerships for Over $110 Million
Sutherlin Nissan ● Photo Credit: Pinnacle Mergers & Acquisitions
SOUTHLAKE, Texas, February 19, 2024 (VSNewsNetwork.com) - Pinnacle Mergers & Acquisitions, an auto dealership brokerage, has announced the successful sale of three Southwest Florida dealerships to Krause Auto Group, totaling over $110 million. The transaction includes Sutherlin Nissan Fort Myers, Sutherlin Nissan Cape Coral, and Fort Myers Genesis, which will now operate under new names.
Bill Scrivner, CEO of Pinnacle, highlighted the vibrant market for dealership acquisitions in a press release, stating, "With the ever-changing landscape of the automotive business, we continue to see a robust market for dealership acquisitions. In addition to the traditional hot markets such as Florida, we are seeing strong demand for dealerships in markets across the country."
The company's track record includes facilitating transactions for over 650 new car dealerships, including recent sales of BMW and Chevrolet dealerships in California, as well as Toyota, Hyundai, Ford, and General Motors dealerships in Mississippi and West Virginia.
Reflecting on the sale of Steve Thomas BMW in Camarillo, California, to Ken Garff Auto Group, Steve Thomas Sr. said, "After 31 years as a BMW dealer, our family decided to sell our store. I met Mike Sims, and we have kept in touch for over 15 years. Mike and I were able to find a perfect fit for my dealership. With Pinnacle, the transaction was very professional and speedy. My experience dealing with Mike was outstanding."
Pinnacle also represented Leo Bunnin in the sale of Bunnin Chevrolet in Santa Barbara to Frank Figueredo and Franklin McLarty, now renamed Coastal Chevrolet, and facilitated the sale of multiple dealerships in West Virginia for the Robinson family.
"Our company’s commitment to excellent business practices has helped produce these successful transactions for our clients," said Sims. "We approach each opportunity transparently and can leverage our team’s deep industry experience and relationships to garner above-market results for our clients. We consider it an honor and privilege to be trusted advisors for our clients and maximize the value of their life’s work."
For further details on Pinnacle Mergers & Acquisitions' services, visit www.pinnaclemergers.com.
Source: Pinnacle Mergers & Acquisitions via Newswire
