Dealer news: 2 M&A moves in North Carolina; NADA assists dealers’ vehicle donations
Holman has closed its acquisition of North Carolina-based Leith Automotive Group, a deal Holman said nearly doubles its automotive retail business.
The companies announced an agreement for the transaction in January.
The purchase, which Holman said is the largest in the company’s 100-year history, includes 13 new-car franchises and an auction center — the first in Holman’s portfolio — in the Raleigh area and Aberdeen, N.C.
In addition to its other enterprises, Holman now operates 58 dealerships representing 34 brands, with almost 4,500 auto retail employees in nine states. Business North Carolina reported Leith Automotive has annual revenues of more than $1 billion.
“In our centennial year, we’re excited about the opportunities to strengthen and grow our automotive retail footprint, which began in 1924 with a single dealership,” Holman CEO Chris Conroy said. “This acquisition represents the culmination of extensive strategy, hard work and vision to put our employee partners and our business in a position to win for the next 100 years.”
The newly acquired dealerships will keep the Leith name, and their staff will be retained, Holman said.
“Like Holman, Leith has placed the highest priority on delivering excellent customer service by building a strong network of employee partners,” Holman president of automotive retail Gene Welsh said. “We are thrilled to welcome Leith’s 1,900 employees to the Holman family.”
NADA, local dealers donate vehicles to families
Four families in Maryland and Virginia received vehicles donated by area dealers at the National Automobile Dealers Association’s headquarters in Tyson, Va., through a partnership with Vehicles for Change.
“Individuals are empowered when they have access to transportation because it enables them to conveniently reach their workplaces, educational institutions, grocery stores and healthcare facilities,” Vehicles for Change founder and president Martin Schwartz said. “It also grants them the ability to engage in community, family, and social activities.”
Sport Automotive Group in Silver Spring, Md., presented a Toyota RAV4 to Candice McNair, a single mother of two daughters and a clerk in Annapolis, Md., who said she will use her vehicle to pursue her bachelor’s degree in health administration.
Toni Brown, a single mother of a teenage son and a medical secretary in Baltimore, received a Nissan Versa from Nissan of Bowie in Bowie, Md. Brown said she will use her vehicle to alleviate the financial burden of her daily commute and access medical appointments.
Reston, Va.-based Rosenthal Automotive Group donated a Nissan Altima to Tammy Carter, a single mother of two teenage daughters and a patient access specialist in Prince William County, Va., who said she’ll use her vehicle to decrease commuting time and transport her children to extracurricular activities.
Carter Myers Automotive Group based in Charlottesville, Va., awarded a Kia Rio to Adrianna Boyer, a single mother of two young children and a sales administrator in Loudon County, Va. She said the vehicle will help her get her son engaged in afterschool activities.
“Every day, our members see firsthand the benefits, opportunities and freedoms a vehicle brings to its owner’s life and family,” NADA president and CEO Mike Stanton said. “That’s why we’ve been engaged and supportive of VFC for several years and are excited to further embrace their mission this year.”
In addition to sourcing the donated vehicles, the NADA Foundation donated $5,000 per vehicle to cover associated costs, including refurbishing the vehicles and making necessary repairs.
“Access to a vehicle — by having reliable personal transportation — is paramount to a family’s ability to thrive,” NADA 2024 chairman Gary Gilchrist said. “Not only will the vehicles here today give the recipients opportunities they might not have otherwise, they also help families build their credit.”
Boyer said her new vehicle is more than just transportation.
“It’s a lifeline that will bring back normalcy to our lives,” she said. “Now, with the joyous addition of a car to our lives, I can foresee a positive shift. The ability to go to the grocery store, attend doctor appointments and respond swiftly to emergencies is a game-changer.”
Hudson Auto Group acquires NC Toyota store
Hudson Auto Group added to its holding with the acquisition of Toyota of North Charlotte, in Charlotte, N.C., from brothers Joe and Bob Siviglia, according to Haig Partners, which represented the sellers.
The dealership, which has been in operation since 2003, includes almost 70,000 square feet of sales, service and body shop facilities on 12 acres. Bob Siviglia, who has served as general manager as well as owner for the past five years, will remain as GM.
Charleston, S.C.-based Hudson Automotive now owns 54 dealerships in the Carolinas, Georgia, Tennessee, Ohio, Kentucky and Louisiana.
“The dealership performs at a very high level, and we plan on keeping it that way,” president David Hudson said. “Toyota of North Charlotte has long been a leader in this community, and we are excited to be a part of it.”
Joe Siviglia said his family sold the dealership to concentrate their efforts on their home market in Florida.
“Toyota of North Charlotte is a highly profitable dealership and we have enjoyed serving the Charlotte area for over 20 years,” he said. “It wasn’t an easy decision to sell, but my sons and I have decided we want to expand our operations in Florida to complement our other two Toyota stores in the Orlando area. Selling Toyota of North Charlotte provides us with greater resources and an increased focus on growth in Florida.”