Driving the News:
Sean Veilani and Sam Saghbini from Lani Automotive Group have acquired a multi-brand store in Iowa from Coleman Automotive Group, with the deal officially closing on October 1.
For Context:
The acquisition involves Mt. Pleasant Chevrolet, GMC, Chrysler, Dodge, Jeep, Ram, located about two hours southeast of Des Moines.
- While the store’s website hasn’t been renamed yet, its Facebook page is now updated to Lani Chevrolet, GMC, Chrysler, Dodge, Jeep, Ram.
- This marks Lani Automotive’s first franchised dealership.
- Paul Kechnie and Matt Willis from Performance Brokerage Services represented the sellers.
Strategic Note:
Kyle Coleman founded the Coleman Automotive Group in 2024, with an ambitious plan to expand to 40 dealerships in the next decade.
- Recently, the group also acquired McGrath Nissan in Elgin, Illinois, on May 1. This acquisition increased their portfolio to seven stores across Indiana, Iowa, and Ohio.
- Coleman discussed his evolving strategy during a May 4 appearance on Daily Dealer Live, highlighting a shift from buying small rural stores to expanding into metropolitan areas.
“Originally, when I founded the group, we were buying small rural stores. Over the past 12 months, one of the biggest strategy changes has been moving into metros.”
For more deal announcements like this, visit the CDG Buy/Sell tracker at CDGbuysell.com, presented by Presidio.
