Driving the news: Penuel “Raj” Clement of Clement Auto Group acquired Mansfield Motor Group from Dirk Schulter and Brett Schulter in a deal that closed August 26.
For context: Mansfield Motor Group, in that Ohio city southwest of Akron, includes dealerships selling Honda, Nissan, Volvo and Lincoln.
The campus has three buildings: Nissan in one, Honda in one, and the third is home to Lincoln and Volvo.
It wasn’t immediately clear if Clement would retain or terminate the Lincoln franchise.
Lincoln’s online dealership locator shows just three selling the brand in Ohio, counting the Mansfield location, plus a store each in Columbus and Zanesville.
Performance Brokerage Services represented Clement in the transaction, while Bel-Air Partners advised the sellers.
What they’re saying: Willie Beck, co-managing partner at Bel-Air, said the deal attracted many interested buyers, including some that wanted just the Honda store. But the sellers preferred a fell swoop.
“The goal was to have one buyer and just sell everything as a package,” Beck told CDG News.
Strategic note: Some sources say that Honda’s attractiveness may be on the upswing, and this deal at least seems to support that.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by Presidio.
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