Dealer news: ZT expands into Alabama; dealer honored for charitable donations
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ZT Automotive's Alabama acquisition includes its first Honda store. Photo courtesy of ZT Automotive.
ZT Automotive entered the Alabama market in a big way with the acquisition of four dealerships in the state from Florida-based Greenway Automotive.
The purchase of the four Greenway of the Shoals stores in the Muscle Shoals area on the Tennessee River — Honda, Nissan and Chrysler Dodge Jeep Ram FIAT dealerships in Florence and a Toyota location in Tuscumbia — raises ZT’s total to 13 locations in Texas, Florida, Georgia and now Alabama.
The Honda and Nissan stores are ZT’s first with those brands.
“ZT Automotive’s growth aligns with our strategic vision to expand our presence across the Southeast and diligently build a portfolio in areas where we’re poised for success,” CEO Taseer Badar said. “Our commitment to delivering top-notch service and optimizing operational efficiency has consistently driven revenue growth and enhanced profitability throughout our automotive business.”
The dealerships, which are expected to generate more than $195 million in annual revenues, will be renamed Singing River Toyota, Singing River Honda, Singing River Nissan and Singing River Chrysler Dodge Jeep Ram FIAT, which ZT said a news release “pays homage to the region’s rich musical and recording studio legacy.”
President and operating partner Zeeshan Shaikh said the dealerships’ staff will remain in place.
Chief investment officer Sheheryar Shah said ZT Automotive is focused on continued growth.
“This acquisition emphasizes our commitment to creating value for our customers, investors and talented team,” he said. “We plan to continue acquiring top-quartile and cash-flowing dealerships where we can leverage our operating strength to enhance business operations and profitability.
“Our automotive portfolio continues to deliver strong returns, and we are confident that the Alabama acquisition will yield similar results.”
Greenway Automotive, which still owns 30 dealerships throughout the South, sold the Shoals stores to reallocate capital in order to acquire dealerships in larger markets, according to Haig Partners, which represented the seller in the transaction.
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Everett Hellmuth (right) accepts the Corporate Leader Award from Central Union Mission president Joe Mettimano. Photo courtesy of Passport Auto Group.
Passport Auto president honored by local charity
Everett Hellmuth, president of Passport Auto Group, was presented the Corporate Leader Award for his commitment to helping those in need at Central Union Mission’s 140th Anniversary Gala last month in Washington, D.C.
Hellmuth and Passport Auto Group have sponsored Central Union Mission for almost 10 years, providing donations to assist with food, shelter and programs.
“Everett Hellmuth and Passport Auto Group are critical partners for the success of Central Union Mission,” mission president Joe Mettimano said. “Not only is he one of our most generous donors, providing substantial cash support and vehicle donations, he also is a strategic partner, providing jobs for people the mission assists through our various programs.
“Everett’s work not only benefits the mission, it benefits the entire DMV community.”
Hellmuth has supported and sponsored various charitable organizations since founding Passport Auto Group in 1991. The group currently operates nine locations in the D.C. area.
“It is humbling to receive this award,” Hellmuth said. “I am honored to be able to make a small difference at Central Union Mission. They are the true heroes, helping transform lives in our nation’s capital.”