Driving the news: The freshly formed ZT Automotive Collection acquired McLaren Charlotte and Rolls-Royce Motor Cars Charlotte, both in that North Carolina city, from Daniel Desantis, Ryan Moreno and Ryan Wildrick. The deal closed July 16.
For context: ZT Automotive Collection will be managed under the ZT Automotive portfolio, owned by the Badar Family Office.
The store names will remain the same.
ZT Automotive plans future showroom upgrades and a new dedicated service facility for the Charlotte stores, according to a press release.
Moreno and Wildrick will stay on, according to the news release. It was not immediately clear if they retained financial stakes in the stores.
The sellers were represented by Dealer Solutions Mergers & Acquisitions.
What they're saying: Taseer Badar, founder and CEO of the Badar Family Office, is dealer principal of ZT Automotive.
“This is an exciting new chapter for the Badar Family Office and the continued evolution of our automotive portfolio," Badar said in a release. "We are honored to become stewards of these iconic brands and look forward to delivering an ownership experience that is every bit as distinctive as the vehicles themselves."
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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