The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

OVERVIEW Through the first six months of 2014, 125 dealerships changed ownership, up from 89 through the same period in 2013 according to data compiled by The Banks Report. Eighty-three different buyers accounted for the 125 acquisitions. Note: The 125 does not include the 27 stores Lithia Motors will gain when it closes on its…

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Cliff Banks - The Banks Report

GM Brands Lead Buy/Sells First 5 Months of the Year

June 24, 2014 General Motors branded dealerships are proving to be the most popular on the acquisition front in 2014 with GMC leading with 11 franchises sold and Chevrolet and Buick in second with 10. Meanwhile, five Cadillac dealerships were sold. Honda also has seen several of its dealerships find new owners with eight buy-sells…

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Cliff Banks - The Banks Report

KKR Acquires Internet Brands and CarsDirect

Internet Brands, the parent company to CarsDirect.com and AutoData Solutions, was acquired today by the private equity group KKR for $1.1 billion. JMI Equity and Hellman & Friedman have owned Internet Brands since 2010 when they paid $640 million to take the company private. CEO Bob Brisco, who has run the company since the fall…

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Cliff Banks - The Banks Report

Vista’s Interesting Play with DealerSocket

The story regarding DealerSocket and Vista Equity Partners’ investment in the CRM firm is a bit clearer today but still raises several questions. TBR first broke the story while at the Digital Dealer conference in Atlantic City on May 6th on Twitter reporting that Vista Equity had acquired a majority interest in DealerSocket. A private…

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Cliff Banks - The Banks Report

Vista Equity Acquires Majority Stake in DealerSocket

The story regarding DealerSocket and Vista Equity Partners’ investment in the CRM firm is a bit clearer today but still raises several questions. TBR first broke the story while at the Digital Dealer conference in Atlantic City on May 6th on Twitter reporting that Vista Equity had acquired a majority interest in DealerSocket. A private…

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Cliff Banks - The Banks Report

Buyer Beware – Right of First Refusal on the Rise

A couple of days ago, on April 30, Southern Motors Chevrolet filed a lawsuit against General Motors for blocking its purchase of Fuller Chevrolet, located in Rincon, GA. According to dealers and individuals who broker dealership acquisitions one of the more under-reported dynamics of the dealership buy-sell field is the growing willingness on the part…

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