Transaction includes Hyundai of New Port Richey, the highest volume Hyundai dealership in the world
TAMPA, Fla.–(BUSINESS WIRE)–The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Scott Fink, President of Fink Automotive Group, on the sale of seven new vehicle dealership franchises in the greater Tampa market to Lithia Motors, Inc. (“Lithia”) [NYSE: LAD].
“The buy sell market is especially strong right now and we knew that joining efforts with a larger group was the best way to ensure that our dealerships will continue to be market leaders in today’s fast-changing auto retail environment,” said Scott Fink, President of Fink Automotive Group. “Lithia has the resources to elevate our dealerships to the next level of sophistication.”
“We chose to work with The Presidio Group because they are consummate professionals with extensive experience in advising on multi-dealership transactions and, just as importantly, a strong track record of identifying the right buyer for each business,” Fink added.
“We were very pleased to once again work with The Presidio Group on an important strategic acquisition,” said Bryan DeBoer, President and CEO of Lithia Motors and Driveway. “The addition of Fink Automotive Group gives us a greatly expanded foothold in the key Southeast region. We are excited to welcome Fink Auto Group’s employees to the Lithia family, especially Scott Fink, who will work with Lithia to continue our expansion in the Southeast.”
The acquisition of Fink Automotive Group more than doubles Lithia’s footprint in the Southeast.
Fink Automotive Group’s dealerships include Hyundai of New Port Richey, Genesis of New Port Richey, Volkswagen of New Port Richey, Hyundai of Wesley Chapel, Genesis of Wesley Chapel, Mazda of Wesley Chapel, and Chevrolet of Wesley Chapel. Hyundai of New Port Richey has been the highest volume Hyundai dealership in the United States for eight consecutive years. Dave Frazier, general manager of Hyundai New Port Richey, will continue to oversee dealership operations.
“Scott is a long-time friend and I was especially pleased to work with him to find the right buyer for his stellar collection of dealerships,” said George Karolis, President of The Presidio Group. “He is one of the best dealers in the country and Tampa is one of the hottest markets, as evidenced by the success of his ‘Giant’ Hyundai store in New Port Richey. We knew these franchises would complement Lithia’s portfolio perfectly.”
“We were honored to assist Scott in the sale of his award-winning franchises,” said Brodie Cobb, founder and CEO of The Presidio Group. “This move allows him to continue to utilize his knowledge and experience in the dealership world through working with Lithia.”
Scott Fink and his wife Kathy are well-known in philanthropy circles for their work with the St. Joseph’s Hospital Foundation, the Metropolitan Ministries, and with the Hyundai Hope on Wheels non-profit, which helps children fight cancer. In 2020, Hope on Wheels donated $200,000 to St. Joseph’s, and Scott and Kathy Fink followed that with a $1 million donation of their own. Scott Fink has served as a St. Joseph’s board member for more than a decade and also serves as the Board Chair of Hyundai Hope on Wheels.
The Presidio Group provided exclusive M&A advisory services to Fink Automotive Group 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 nearly 200 transactions for over $12 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 San Francisco, CA. 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.
Contacts
Brodie Cobb
(415) 449-2525
bcobb@thepresidiogroup.com
George Karolis
(678) 831-5520
gkarolis@thepresidiogroup.com
