FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Haig Partners LLC, the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to the owners of Shockley Honda on its sale to Chris Ourisman and Ourisman Automotive Group. Shockley Honda, located in Frederick, MD, was owned by siblings Marisa Shockley and Mike Shockley. The Ourisman Automotive Group is led by President Chris Ourisman and is based in Bethesda, MD.
Shockley Honda first opened for business in 1973, over 50 years ago. The founder, Mr. Alfred P. Shockley, proudly turned day-to-day leadership over to his daughter and son in 1994. Marisa and Mike took the innovative step to convert Shockley Honda to a “one person – one price” sales model in 2020, anticipating a change in consumer behavior that has been well-received by thousands of customers. Shockley Honda has won numerous awards from Honda and local organizations, including #1 in Customer Satisfaction in Sales and Service out of all Honda stores in its district in 2023 and the Best of the Best of 2023 and the Best of Frederick, as awarded by Frederick Magazine, for many years running.
When discussing the transaction, Marisa Shockley said, “It was a pleasure for our family to serve so many customers in the Frederick area for over the past five decades. We will also have warm memories of our former teammates at Shockley Honda, and we thank them for helping us to achieve success. While my brother, Mike, and I enjoyed the automotive industry, we wanted to move on while we were still young and could pursue other adventures. I’m also grateful for the financial and legal advisors who were instrumental in this transaction. Alan Haig and Matt DeSantis of Haig Partners gave us extensive advice over the past months that resulted in a highly desirable outcome for our family. They delivered more than I expected in several ways, delivering on their underpromise and outperform spirit. Alan knew how to describe the market potential of Shockley Honda and had relationships with leading buyers in our area and nationwide that resulted in several attractive offers. They have a deep understanding of how the buy-sell process works and assisted me in resolving open items all the way up to the closing day. I’d also like to thank our attorney Frank Killgore of Killgore, Pearlman, Semanie & Squires, P.A. Due to his extensive experience and can-do attitude, Frank did an excellent job in resolving all the legal matters for us.”
With the purchase of Shockley Honda, Ourisman Automotive Group now owns and operates 63 dealerships, making it one of the largest auto dealership groups in the DC Metropolitan Area and a Top 20 Automotive Group nationwide. Chris Ourisman said, “We are excited about our growing company that is committed to providing excellent customer experiences and meaningful opportunities for our team members. The team at Shockley shares these values, and I am proud to add them as team members. We look forward to continuing to serve the Frederick community with Shockley Honda joining the Ourisman Family.”
Alan Haig, President of Haig Partners, said, “Marisa and Mike worked hard for many years, and I am happy that they now get to enjoy the fruits of their labors. I look forward to seeing Marisa and her family on the high seas one day soon! Also, we congratulate Chris Ourisman on yet another smart acquisition in one of the best auto retail markets in the country. Honda is a highly profitable franchise, and Frederick is growing rapidly. This transaction, along with the closing that we had last week for the sale of the nine dealerships in South Florida owned by Vista Motors and South Motors, which we believe set record-high values for BMW and Honda dealerships, demonstrates that demand for auto dealerships remains strong. Buyers believe that dealerships will continue to provide an attractive return on investment and have confidence in the diversified business model, which seems to bring healthy profits in almost all economic environments.”
The team at Haig Partners has been involved in the purchase or sale of 24 Honda stores nationwide, and the sale of Shockley Honda also represents the 75th dealership the team has bought or sold in the Mid-Atlantic region. Most recently, Haig Partners advised on the sales of McGeorge Toyota, McGeorge Mercedes-Benz of Richmond, Mercedes-Benz of Midlothian, Lustine Toyota, Lustine CDJR and CarMax Toyota of Laurel.
About Haig Partners
Haig Partners is a leading buy-sell advisory firm that helps owners of higher-value auto, truck, RV and motorsports dealerships maximize the value of their businesses when they are ready to sell. The team at Haig Partners has advised on the purchase or sale of more than 580 dealerships with a total value of over $10 billion. It has represented 27 dealership groups that qualify for the Top 150 Dealership Groups list published by Automotive News, more than any other firm. Clients of Haig Partners benefit from the group's collective experience as previous executives with leading companies such as Ally Financial, AutoNation, Bank of America, Credit Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Companies and Toyota Financial Services. Leveraging its unmatched expertise and extensive relationships, Haig Partners guides clients to successful outcomes through a confidential and customized sales process. The firm authors The Haig Report®, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and co-authors NADA’s Guide, “Buying and Selling a Dealership.” Haig Partners team members are frequent speakers at industry conferences and are regularly quoted in reputable media outlets, including Reuters, Forbes, The Wall Street Journal, The New York Times, CNBC, BBC, Automotive News, Wards, CarDealershipGuy and CBT News. For more information, visit www.haigpartners.com.
