GREENVILLE, S.C.--(BUSINESS WIRE)--The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Anderson Automotive Group on the sale of Chevrolet and Nissan dealerships outside of Greenville, S.C., to Escude Automotive Group of Greer, S.C.
The transaction, which was finalized Aug. 12, involved Chevrolet Easley in Easley, S.C., and Fred Anderson Nissan of Greer, S.C., and their related real estate. The stores are two of the seven that Anderson Automotive Group acquired in 2023 from MCE Automotive Group.
“After completing the MCE transaction last year, we decided to divest these two stores and direct our resources to other needs and opportunities,” said Fred Anderson, chairman of Anderson Automotive Group. “We turned to our strategic advisors at Presidio who regularly provide great advice and who we knew would be able to get this deal done.”
“We thank our partners at Presidio for helping us get this sale to the finish line,” said Michael Anderson, CEO of Anderson Automotive Group. “It was a smooth and expertly managed process, and we appreciate the knowledge and connections that Presidio brought to the transaction.”
Buyer Escude Automotive Group is led by Mark Escude II, who had been part of the leadership team at the stores’ previous owner MCE Automotive.
“It was a pleasure working with the top-notch Presidio and Anderson teams to complete this deal,” Escude II said. “The Escude family has always taken great pride in offering our customers a world-class experience. Our family is fortunate to call the upstate region home, and we’re eager to get back to work serving our local community.”
Anderson Automotive Group was established in 1955. With the completion of this sale, the company now operates 16 dealerships across North Carolina and South Carolina representing 12 brands.
“We at Presidio congratulate the Anderson family for the successful completion of this deal,” said Alex Watterson, managing director of The Presidio Group. “It’s been an honor to play a role as this fast-growing group optimizes its core holdings in the Carolinas.”
“We’re always grateful when a client chooses us to advise and assist with their M&A and portfolio management activities,” said George Karolis, president of The Presidio Group. “Anderson Automotive Group is one of the most reputable retailers among the top 100 dealership groups in the U.S., and it is an honor to support Fred and Michael Anderson in their strategic efforts.”
Jeff G. Roberts, partner with Underwood & Roberts, PLLC, provided legal counsel to Anderson Automotive Group. Selby A. Ireland of Butler Snow provided legal counsel to Escude Automotive Group.
The Presidio Group provided exclusive M&A advisory services to Anderson Automotive Group through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Anderson Automotive Group
Anderson Automotive Group is a family-owned business operating in some of the best markets in the Southeast for more than 65 years. Founded in 1955, Anderson represents 12 automotive brands and operates 16 dealerships employing about 1,700 employees at locations throughout North Carolina and South Carolina. Anderson Automotive stores are deeply involved in their communities via both leadership and philanthropic efforts. For more information, visit www.andersonautomotivegroup.com.
About The Presidio Group LLC
The Presidio Group was founded in 1998 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. During their careers, the professionals at Presidio have collectively closed more than 275 transactions for more than $18.5 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. 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.
