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The Presidio Group Exclusively Advised Penske Automotive Group on Sale of Hyundai of Noblesville to Gurley Leep Automotive Family

via Business Wire

The Presidio Group, an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Penske Automotive Group on the sale of Hyundai of Noblesville to Gurley Leep Automotive Family.

The transaction closed Nov. 24 and included the dealership’s real estate.

“When we decided to pursue a new direction for Hyundai of Noblesville, it was an easy choice to reach out to the Presidio team,” stated George Brochick, executive vice president of Penske Automotive Group. “Their assistance in our interactions with Gurley Leep Automotive Family helped ensure a great result for all parties involved.”

For Gurley Leep, the transaction bolsters its already significant presence in Indiana and extends its reach into the metro Indianapolis market.

“We are excited to welcome the team members of Hyundai of Noblesville to the Gurley Leep family. Expanding our Indiana presence has always been a priority for us, and this store is an ideal complement to our group,” said Mike Leep Jr., president of Gurley Leep Automotive Family. “We look forward to serving our new customers and supporting the local community. We appreciate Presidio’s expert hand in guiding this transaction to the finish line.”

The Hyundai of Noblesville sale marks the 16th transaction facilitated by The Presidio Group this year.

“This transaction reflects how thoughtful portfolio management and trusted industry relationships can drive successful outcomes,” said George Karolis, president of The Presidio Group. “It is truly an honor to represent an organization like Penske Automotive Group, one of the largest and most respected dealership groups in the country. Our long-standing connection to Penske’s leadership and our relationships throughout the industry were key to the deal’s success. Transactions like this are fueling an exceptionally active period in dealership M&A, with interest from both buyers and sellers as robust as I’ve ever experienced.”

“Representing Penske Automotive Group in this transaction was a privilege,” said Alex Watterson, managing director of The Presidio Group. “A high percentage of transactions in today’s market are coming from dealers looking to realign their portfolios or expand into adjacent markets, just as Gurley Leep has done here. Our team has developed deep expertise in helping clients navigate such moves.”

Buyer legal counsel was provided by Brian Nolen of Nolen PLLC.

The Presidio Group provided exclusive advisory services to Penske Automotive Group through its wholly owned investment bank, Presidio Merchant Partners.

About Penske Automotive Group

Penske Automotive Group, headquartered in Bloomfield Hills, Mich., is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. Penske Automotive Group operates dealerships in the U.S., the United Kingdom, Canada, Germany, Italy, Japan and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. Penske also distributes and retails commercial vehicles, diesel and gas engines, power systems and related parts and services principally in Australia and New Zealand. In addition, Penske Automotive Group owns 28.9 percent of Penske Transportation Solutions, which manages one of the largest trucking fleets in North America with more than 405,000 trucks, tractors and trailers under lease, rental and maintenance contracts and provides innovative transportation, supply chain and technology solutions to its customers. For more information, visit www.penskeautomotive.com.

About Gurley Leep Automotive Family

Founded in 1973 by Mike Leep Sr. and Van Gurley with a single Dodge dealership in Highland, Ind., Gurley Leep Automotive Family has steadily grown to include 36 franchises across 23 dealership locations in five states. Today the company remains family owned and is led by Mike Leep Jr. and James Leep. Gurley Leep is committed to bettering the lives of its guests, team members and communities. For more information, visit gurleyleep.com.

About The Presidio Group

The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of 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 295 transactions for nearly $20 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 is a subsidiary of The Presidio Group and is a member of FINRA and SIPC. For more information, visit www.thepresidiogroup.com.

"Transactions like this are fueling an exceptionally active period in dealership M&A, with interest from both buyers and sellers as robust as I’ve ever experienced." — George Karolis, president of The Presidio Group.

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