Haig Partners Advises German Motors On The Sale Of BMW San Francisco To Lithia Motors, Inc.
SAN FRANCISCO, Aug. 6, 2020 /PRNewswire/ -- Haig Partners LLC was the exclusive financial advisor to German Motors in the sale of BMW San Francisco to Lithia Motors, Inc. ("Lithia").
"We congratulate Lithia on the purchase of BMW San Francisco which has been in our family for 56 years," said Henry Schmitt, owner. "We are grateful to have had the opportunity to serve BMW and MINI customers in the Bay Area and to have worked with so many special associates at the dealership. I'd also like to thank Alan Haig and Nate Klebacha at Haig Partners who assisted us by conducting a thorough and professional sale process. They were patient and creative and brought the best possible buyer for our business."
Bruce Bercovich of Arent Fox LLP served as legal counsel to German Motors.
"We're very excited to welcome the talented team of BMW of San Francisco to the Lithia family," said Bryan DeBoer, Lithia Motors President and CEO. "Their passion for BMW and their enthusiasm for technology is geared perfectly for this region." The store is expected to generate $210M in revenue for Lithia.
Alan Haig, President of Haig Partners, stated, "It was an honor to assist Henry Schmitt and his family in the sale of their large and successful dealership. This transaction demonstrates that buyers are eager to acquire leading franchises in leading markets, despite the impact of COVID-19. We wish Lithia much success as they continue their rapid growth strategy."
Haig Partners LLC is a boutique investment banking firm that focuses on auto/heavy truck/RV dealers and the companies that serve them. It is the leading buy-sell advisory firm to owners of higher value dealerships and dealership groups. Since 1996, the principals at Haig Partners have completed over 180 dealership transactions totaling over $5.3 billion, more than any other team in the industry. They also publish the widely followed Haig Report that tracks trends in the auto industry and how they impact dealership valuations. The latest Haig Report is available here. Alan Haig is a frequent speaker at leading industry events. For more information, visit www.haigpartners.com.
Contact:
Alan Haig
(954) 646-8921
alan@haigpartners.com
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SOURCE Haig Partners LLC
