Driving the News:
Walser Automotive Group announced its acquisition of three Minnesota dealerships from Metropolitan Corp., with the deal closing on September 3, as reported by Haig Partners, who acted on behalf of the sellers.
For Context:
The Bloomington-based group revealed in its press release that this transaction marks a significant milestone for Walser, stating it is their largest acquisition to date, adding nearly 300 employees to their workforce.
Details of the Purchase:
- The acquired dealerships include Metropolitan Ford of Eden Prairie, Suburban Chevrolet in Eden Prairie, and Freeway Ford in Bloomington, both located within the Minneapolis and St. Paul metro area.
- Two of the dealerships have been renamed to Walser Metropolitan Ford and Walser Chevrolet Eden Prairie, while Freeway Ford is yet to be rebranded.
- Notably, this acquisition signifies the return of Ford to the Walser lineup after a 20-year hiatus.
Additional Advisors:
Key advisors for the deal included David Ezrilov from Stinson LLP and Jen Moylan from Withum Inc. for the sellers, and Moore & Van Allen provided legal services to Walser.
What They’re Saying:
Andrew Walser, CEO of Walser Automotive Group, emphasized the rarity of finding such alignment with established dealerships, highlighting the meaningful investment in the Twin Cities and the company’s future.
Alan Haig, president of Haig Partners, noted that meaningful advisory relationships with clients are crucial, and praised the profitability of the dealerships being acquired.
Strategic Note:
Haig mentioned that the dealership buy-sell market is strong, with favorable conditions due to high demand and more sellers looking to divest, making for an active market for dealership transactions.
For more information: Visit the CDG Buy/Sell tracker at CDGbuysell.com, provided by Presidio.
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