Oregon-based dealer group increases foothold in Southern California market
THOUSAND OAKS, Calif.–(BUSINESS WIRE)–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 Anderson Autos of Thousand Oaks on the sale of five dealerships comprised of seven franchises to the Swickard Auto Group of Gladstone, Ore.
The sale to Swickard Auto Group, which operates eight stores in the San Francisco region, nearly doubles Swickard’s California presence. The transaction includes Acura, Honda, Jaguar, Land Rover, Lexus, Mercedes-Benz and Commercial Van dealerships. Three additional Anderson Autos dealerships in Thousand Oaks, representing Buick, GMC, Cadillac and Chevrolet, will be purchased by Swickard in the first part of 2023.
“We were determined to find alignment with a buyer who represented the same values and interests as our own,” said William S. Anderson, executive chairman and CEO of Anderson Holdings, and son of Anderson Autos founder John E. Anderson. “We are extremely pleased with the outcome that The Presidio Group helped us obtain. Their process and relationships made the transaction seamless and fruitful for both sides, and after getting to know the executive team at Swickard Auto Group, we are confident that our employees will continue to thrive under their leadership.”
The Thousand Oaks acquisitions by Swickard Auto Group add several of the top-selling vehicle segment leaders to the group’s portfolio, according to the California New Car Dealers Association, and increases its national footprint. Swickard Auto Group also operates dealerships in Alaska, Oregon, Texas and Washington state.
“Swickard Auto is grateful for the opportunity to serve our new colleagues and community partners in Thousand Oaks,” said Swickard Auto Group CEO Jeff Swickard. “As our business grows across the west coast, our commitment to hospitality, employee development, and community causes will enhance the great foundation built by Anderson Autos. Our expansion in California is one example of where we see Swickard heading directionally.”
“We’re grateful to Anderson Autos for laying such a great foundation and are excited to build upon that opportunity,” Swickard said.
Said Presidio President and Partner George Karolis: “Presidio was grateful to have the opportunity to sell our client’s platform, combining complicated, multi-store operations and expertise, especially in the luxury space. This represents another opportunity for Presidio to demonstrate our strong ability to pair great relationships with great brands and complete a sophisticated transaction.”
Karolis continued: “It was a pleasure to assist in the mutual benefit of Anderson Autos and Swickard Auto in order to achieve their goals in this transaction. Matching buyers and sellers can be both an art and a science. I’m proud of the hard work the Presidio team did to ensure that chemistry came together for the acquisition.”
Said Presidio Group CEO Brodie Cobb: “The buy-sell market shows continued strength as we end a very ambitious year for both sides of transactions. This period has proven particularly fascinating and requires increased speed and attention. During this unique time, Presidio strives for world-class service with individualized attention. We’ll continue to help our future customers navigate the opportunities and meet their short- or long-term goals with great care and attention.”
Aaron Jacoby and David Meyer, partners with Arentfox Schiff, LLP, served as legal counsel to the seller.
Michael Fletcher, a partner with Tonkon Torp, LLP, served as legal counsel to the buyer.
The Presidio Group provided exclusive M&A advisory services to Anderson Autos through its wholly owned investment bank, Presidio Merchant Partners LLC.
The Presidio Group LLC was founded in 1998 with the simple mission to relentlessly put the interests of our 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 done 215 transactions for more than $14 billion. It also publishes Presidio’s Where the Rubber Meets the Road, a leading source of information about the automotive retail landscape and the automotive retail M&A environment. The Presidio Group is based in Denver and Atlanta. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.