SAN FRANCISCO--(BUSINESS WIRE)--The Presidio Group advised the ownership of Schumacher European, Ltd. in
the sale of the Mercedes-Benz dealership in Phoenix, Arizona to Penske
Automotive Group, Inc., the owner of 165 retail automotive franchises in
the U.S. including 23 automotive franchises in the greater Phoenix
market area, of which 15 are located adjacent to the acquired dealership.
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The transaction was completed on April 10, 2017. Terms were not
disclosed.
“We are very proud of Schumacher European and the great success we have
enjoyed in the past three decades. We also understood that now was the
time to sell our business for personal and family reasons and let the
legacy continue under new ownership,” said Werner Schumacher, Founder
and President of Schumacher European. Mr. Schumacher has been a
Mercedes-Benz dealer in the Phoenix area since 1985. “I was pleased with
the confidential and limited process that Presidio managed, which
resulted in a great outcome for my partners and me. The Penske
organization is a perfect fit for our dealership employees and
customers.”
“Schumacher European is a well-respected and top performing
Mercedes-Benz dealership that complements our existing footprint in
Phoenix and strengthens our company’s overall automotive retail
portfolio,” said Roger Penske, Chairman of Penske Automotive Group.
Brodie Cobb, Founder and CEO of Presidio, stated, “We are honored to
have represented Werner Schumacher, his family and partners in this
historic sale. This transaction shows the continued demand for luxury
franchises and the strength of the wider auto dealership M&A market.”
Stephen Dietrich of Greenberg Traurig, LLP and Douglas Vande Krol of
Santerre & Vande Krol, Ltd. served as legal counsel to Schumacher
European.
The Presidio Group provided M&A advisory services to the ownership of
Schumacher European through its wholly-owned investment bank, Presidio
Merchant Partners LLC.
About The Presidio Group LLC. The
Presidio Group LLC is an independent merchant banking firm focused
on investment banking and principal investing. The firm was founded in
1997 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. To date,
Presidio has closed 56 dealership transactions worth more than $3.5
billion and is a leader in the automotive retail sector. The Presidio
Group focuses on dealership transactions over $50 million in value. They
also publish Presidio’s Where
the Rubber Meets the Road, a leading source of information for
automotive retailers on corporate finance and M&A activity, and speak at
numerous industry conferences. The Presidio Group is based in San
Francisco. 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
The Presidio Group LLC
Brodie Cobb, 415-449-2525
or
James
Taylor, 415-449-2520