Marubeni Corporation and Lithia & Driveway Make a Strategic Investment in Wheels, Partnering with Apollo FundsDES PLAINES, Ill. and TOKYO and MEDFORD, Ore. and NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Wheels, a leading fleet management company in North America, announced that it received a significant minority investment from Marubeni Corporation (“Marubeni”) and Lithia & Driveway (“Lithia”). The strategic investment aligns Wheels with notable players in the mobility space as it continues to innovate, building upon its best-in-class product offerings to corporate clients. As the pioneer in fleet leasing and services, Wheels recognizes that the automotive industry is constantly evolving and welcomes the deep industry knowledge that Marubeni and Lithia collectively contribute to our business.
Lithia Motors Inc. (NYSE: LAD) is a Leading Gainer in 8/11 Morning TradingLithia Motors, Inc. (
NYSELAD) is one of today’s top gainers. The company’s shares are currently up 3.35% on the day to $317.47.
The Presidio Group Advises on the Sale of Two Qvale Audi Dealerships in South Florida to Lithia Motors
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 Qvale Auto Group on the strategic sale of two Audi dealerships located in Coral Springs and Ft. Lauderdale Florida to Lithia Motors (
NYSELAD).
The Presidio Group Advises on Sale of The Suburban Collection: Largest Number of Franchises Sold to Date in a Strategic Transaction
The Presidio Group LLC (“Presidio”), the leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised The Suburban Collection on the sale of its 56 dealership franchises to Lithia Motors Inc. (
NYSELAD). The Suburban Collection is the 12th largest privately-owned dealership group in the U.S. based on revenue.
