FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Haig Companions LLC, the main buy-sell advisory agency to auto, heavy truck and RV sellers within the U.S., served because the unique sell-side advisor on the sale of La Crosse Truck Middle Ford and La Crosse Truck Middle Mack-Isuzu. La Crosse Truck Middle Ford was offered to Dahl Automotive, which has 13 franchised auto dealerships all through Minnesota and Wisconsin, and La Crosse Truck Middle Mack-Isuzu was offered to Kriete Truck Facilities, which has 11 Volvo (OTC:) and Mack places all through Wisconsin.
La Crosse Truck Middle Ford and Mack-Isuzu have been beforehand a part of River States Truck and Trailer. Final month, in a separate transaction, Haig Companions suggested on the sale of its three Freightliner-Western Star dealerships to Premier Truck Group, a subsidiary of Penske Automotive Group (NYSE: NYSE:). The La Crosse Truck Middle Ford dealership is among the Ford’s final remaining medium-duty-only dealerships, and the Mack-Isuzu dealership sells and providers each medium and heavy-duty vehicles.
Joe Laux, the previous proprietor and CEO of River States, shared, “When we decided to sell our business, the team at Haig Partners provided unparalleled expertise and guidance. Their knowledge of the medium and heavy-duty truck market was invaluable. They were instrumental in navigating the complexities of selling to multiple parties, ensuring that each dealership found the right home. I’d like to thank Derek Garber and Erik Haig for handling these most recent sales of the Ford and Mack-Isuzu dealerships. They did an impressive job and I’m very happy with the outcome.”
Andrew Dahl, President of Dahl Automotive, added, “We’re excited to develop our partnership with Ford Motor Firm (NYSE:), which dates again to 1911, with the acquisition of La Crosse Truck Middle Ford. This Ford Professional location will enable us to additional scale our business automobile operations within the area. We look ahead to persevering with the legacy constructed by Joe and grateful for Haig Companions’ expertise which enabled a clean transaction.
David Kriete, CEO of Kriete Truck Facilities, expressed, “Acquiring La Crosse Truck Center Mack-Isuzu aligns perfectly with our growth strategy. We appreciate the professionalism and thoroughness that Haig Partners demonstrated throughout the process.”
Derek Garber, Vice President at Haig Companions, acknowledged, It was a privilege to work with Joe Laux on these transactions. Throughout his profession, Joe constructed an empire that included Freightliner, Western Star, Mack, Isuzu and Ford franchises. When Joe determined it was time to promote, he trusted our crew at Haig Companions to search out him the very best end result for every of his three companies (categorized right here as: River States Truck and Trailer, La Crosse Truck Middle Ford and La Crosse Truck Middle Mack-Isuzu).
Drawing from our previous expertise with heavy truck buy-sells, we didn’t consider that one single purchaser would obtain OEM approval to accumulate all of Joe’s franchises. So, to get Joe an optimum end result, we needed to break up up his empire. We then recognized and approached the very best patrons for every of the three companies. Whereas it was difficult to run three concurrent transactions, every with a special counterparty, we have been nonetheless in a position to overcome OEM restrictions, navigate two closings with CDK nonetheless shut down, and finally ship a profitable end result for our shopper. Congratulations to Joe Laux and his household, in addition to to Andrew Dahl and David Kriete on their latest acquisitions.
Stephen Dietrich and Brooke Sizer of Holland & Knight, LLP, served as authorized counsel. Troy Parsons (NYSE:), CFO Auto Dealership Consulting at CliftonLarsonAllen, LLP served because the closing marketing consultant.
The crew at Haig Companions has now been concerned within the sale of medium and heavy-duty truck dealerships throughout Texas, Oklahoma, Tennessee, Indiana and Wisconsin. To this point, in 2024, Haig Companions has represented shoppers within the sale of 34 dealerships in AL, FL, MD, MN, NC, NH, PA, and WI. Please contact any member of our crew to debate right now’s market and the way we would give you the option that can assist you Maximize the Worth of Your Life’s Work ®.
About Haig Companions
Haig Companions is a number one buy-sell advisory agency that helps house owners of higher-value auto, truck, RV and powersports dealerships maximize the worth of their companies when they’re able to promote. The crew at Haig Companions has suggested on the acquisition or sale of greater than 585 dealerships with a complete worth of over $11 billion. It has represented 28 dealership teams that qualify for the Prime 150 Dealership Teams record revealed by Automotive Information, greater than some other agency. Purchasers of Haig Companions profit from the group’s collective expertise as earlier executives with main corporations reminiscent of Ally Monetary (NYSE:), AutoNation (NYSE:), Financial institution of America, Credit score Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Corporations and Toyota (NYSE:) Monetary Companies. Leveraging its unmatched experience and in depth relationships, Haig Companions guides shoppers to profitable outcomes by way of a confidential and customised gross sales course of. The agency authors The Haig Report ®, the main business quarterly report that tracks traits in auto retail and their influence on dealership values, and co-authors NADA’s Information, Shopping for and Promoting a Dealership. Haig Companions crew members are frequent audio system at business conferences and are frequently quoted in respected media retailers, together with Reuters, Forbes, The Wall Road Journal, The New York Instances, CNBC, BBC, Automotive Information, Wards, CarDealershipGuy and CBT Information. For extra data, go to https://www.haigpartners.com.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20240717222108/en/
Transaction Contact:
Derek Garber
Vice President
Haig Companions
derek@haigpartners.com
(407) 949-2549
Media Contact:
Aimee Allen
Chief Progress Officer
Haig Companions
aimee@haigpartners.com
(603) 933-2194
Supply: Haig Companions LLC
