CHARLOTTE, N.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 MileOne Autogroup on the sale of a Honda dealership outside of Charlotte, N.C., to Hudson Automotive Group.
The transaction, which was finalized Aug. 26, involved Hall Honda Huntersville of Huntersville, N.C., and its related real estate. MileOne, of Towson, Md., had purchased the store in 2020, and it was its only holding in the Charlotte market.
“MileOne is growing in other geographic areas, and we want to concentrate on our core markets with greater scale,” said Michael Fader, vice president of the dealership group. “Our strategic advisors at Presidio provided sharp advice, helped us find the best possible buyer for this excellent Honda store and expertly steered this sale to a close. It is the kind of guidance we have relied on Presidio for in multiple transactions.”
Buyer Hudson Automotive Group, which is headquartered near Charleston, S.C., has been one of the industry’s fastest-growing dealership groups over the last several years. The acquisition of Hall Honda Huntersville comes just five months after Hudson purchased a Toyota dealership located just 2,000 feet away.
“Buying this Honda store made perfect sense for Hudson as it gives us another strong brand in this rapidly growing and affluent Charlotte suburb,” said David Hudson, CEO of Hudson Automotive Group. “It was a pleasure working with the expert Presidio and MileOne teams to get this deal across the finish line.”
“We are excited to build on Hudson Automotive’s already strong ties to the exceptional Honda brand,” said Jonathan Burnham, Hudson’s vice president of corporate development. “Our group’s biggest brand concentration is with Honda, and this is our 10th store representing the brand. The expertise demonstrated by the Presidio team in executing this deal was top notch.”
With the close of this transaction, MileOne Autogroup now operates 70 franchises primarily located in the Mid-Atlantic states.
“The Presidio team is honored to have helped MileOne complete another successful transaction,” said Alex Watterson, managing director of The Presidio Group. “We congratulate the MileOne and Hudson teams. We are pleased we were able to play a part in helping these respected automotive retailers further their strategic goals.”
“At Presidio, one of our most gratifying roles is when we can help dealers finetune their portfolios,” said George Karolis, president of The Presidio Group. “It has been a privilege to support the MileOne organization in completing this transaction. The group’s high standards of excellence were apparent in every step of this deal and ensured a successful transaction for all parties involved.”
The Presidio Group provided exclusive M&A advisory services to MileOne Autogroup through its wholly owned investment bank, Presidio Merchant Partners LLC.
About MileOne Autogroup
MileOne Autogroup, based in Towson, Md., is one of the largest automotive retailers in the United States with a network of dealerships located throughout the Mid-Atlantic region. MileOne operates 70 auto franchises representing 26 brands. It offers a wide selection of new and used vehicles, related financing services and vehicle repair and maintenance services. For additional information, visit www.mileone.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.
