Friday, Sep. 16, 2022, 03:33 PM
J&M Chevrolet, which is located in the Raleigh, N.C., area, has been sold to Dan Miller and Mark Zurales, according to a news release from Haig Partners, which served as the exclusive advisor on the sale.
Carlos Wheeler, a second-generation dealer, is the dealer principal of the store.
“We are blessed to have had the opportunity to provide a well-respected brand to our customers and communities. Our family has been serving the greater Raleigh-Durham area for decades, and it has been fun to watch the area grow. We will miss our customers and serving the community but know that it will continue with Dan and his team,” Wheeler said.
“I am extremely grateful to John Davis and the team at Haig Partners. We could not have done this without them. They are experts in auto retail, run an exceptional process, and their depth of industry relationships was critical in finding the absolute right buyer,” Wheeler said. “We have a smaller dealership and thought the best buyer might be local. But Haig Partners knew this market has been growing rapidly, which made our store more desirable and brought a buyer from out of state who paid a higher value. In addition, they set themselves apart by understanding that this was not just a business transaction for my family and me, but an emotional journey, too.”
Wheeler’s business partner, David Stepp, will remain with the store as general manager. The store will be renamed MZ Chevrolet.
John Davis in managing director with Haig Partners. In the release, he said: “It was an honor to advise Carlos on the sale of his family’s dealership, and I congratulate him on his retirement! It was important to find a buyer who would appreciate what they have built and who would provide the same focus on the customers and communities they have served for so many years. J&M Chevrolet is in the suburbs of Raleigh, which has been growing rapidly. This transaction highlights the tremendous opportunity for smaller dealers in high-growth markets who may not recognize the desirability of their location.”
Source : AutoFinanceNews