Haig Partners LLC served as the exclusive sell-side advisor to Penske Automotive Group, Inc. (NYSE: PAG) on the sale of its Marin Honda dealership located in San Rafael, CA.
Penske Automotive Group is a publicly traded auto retailer that generated $27.8B in revenue and retailed almost 467,000 new and used vehicles in 2022.
Alan Haig, President of Haig Partners, commented, “It was an honor to represent Penske Automotive Group on the sale of Marin Honda in San Rafael, California. We are proud to be the advisor of choice to the largest automotive retail groups looking to divest dealerships for various reasons.”
Haig Partners is the leading buy-sell advisory firm to auto, truck and RV dealers in the U.S. The firm has represented 25 clients who qualify for the Automotive News list of the Top 150 Dealership Groups, more than any other advisory firm. With the sale of Marin Honda, the team at Haig Partners has been involved in the purchase or sale of 70 dealerships in California, more than any other advisory firm.
Haig continued, “The transaction demonstrates that there continues to be a robust appetite for dealerships despite concerns regarding inflation and changing market conditions. Many buyers remain confident that profits will be elevated for some time to come, so dealership values remain near record-high levels. It’s still an excellent time for dealers looking to sell. Also, California very much remains a state where dealers want to invest. The state has a huge population that depends upon cars to get around, so dealerships can be highly profitable.”