NEW YORK, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, advised both buyer and seller in the successful sale of seven franchised auto dealerships and one used vehicle store from Lawley Automotive Group to Ed Morse Automotive Group. By rooftop count, this is the largest acquisition made by Morse, which ranked 53rd on the 2024 Automotive News Top 150 Dealership Group list released earlier this year.
The deal closed on Aug. 26 and brings the total franchised dealership count for Ed Morse to 56. To date, DCG has represented the group in the acquisition of nine new car dealerships and Daytona Harley Davidson. In total, DCG has advised Ed Morse on $267 million in total acquisition value and has been a critical advisor in the group’s ascent toward being a top 50 group in the United States.
“We are incredibly proud to be trusted by the Ed Morse Automotive Group as a strategic advisor supporting its long-term growth objectives,” said DCG President and CEO Dave Cantin. “This was our fourth time working together with Ed Morse, this time on an acquisition of their first stores in red-hot Arizona. The four geographically diverse states (Florida, Texas, Missouri and Arizona) where we have advised Morse on deals highlight our national footprint, which is critical to advising larger automotive groups.”
Ed Morse Automotive Group is an automotive and motorcycle dealership group with locations in Florida, Illinois, Iowa, Texas, Missouri, Oklahoma, Texas, and now Arizona. The Morse family bought into its first dealership in 1961 and has since continued to add dozens of additional dealerships, bringing its national total to 56. Ed Morse is one of the largest family-owned automotive dealer groups in the country. This acquisition marks a significant milestone as the group expands its footprint into Arizona.
Lawley Automotive Group was founded by Sean Lawley in 1995.
DCG Managing Director Robert Turbyfill represented Ed Morse Automotive Group. DCG Managing Director of the Western region Alex Covino represented Lawley Automotive Group.
Testimonial
Buyer: Ed Morse Automotive Group
Randy Hoffman, Chief Operating Officer
Working with the Dave Cantin Group was a very professional and efficient experience. Our goal was to find a dealership platform that would meet our financial goals but just as importantly fit into our growth strategy. With DCG's help, we achieved both objectives.
There were many moving parts along the way, and it is a complicated process moving through the due diligence and legal issues. The infrastructure DCG provided was superlative with each of the DCG team members being highly skilled, knowledgeable and effective. The intricate process was navigated in a way that allowed us to successfully conclude the process and complete the purchase of Lawley Motors.
On a personal level, Robert Turbyfill and Alex Covino acted as advisors with both the buyer’s and seller’s best interests in mind.
We appreciate all you have helped us achieve.
Seller: Lawley Automotive Group
W. Sean Lawley, Owner, Lawley Automotive Group
When Alex first approached me about the possibilities of selling my dealership group, I was hesitant to talk to him because I didn’t think I was ready to sell the stores yet.
After several conversations, Alex asked if he could give me a proposal based on our last few years’ financials. I explained to Alex that if I were to sell, I would only sell to a group that would keep my current employees at the dealerships. This is a tall order because most larger groups want to put in their own General Managers, CFO, controller, etc. After a couple of months, Alex brought me the perfect fit for my dealership group and an offer that sped up my retirement plans.
We have 11 new car franchises, a used car lot and 8 locations. Alex helped me navigate through the process the entire way. His expertise, professionalism and patience helped make the entire transaction easy. Alex would pick up the phone even if it was on weekends, holidays or after hours. When he told me he was “committed” to get this deal done, he really meant it.
It is my pleasure to recommend Alex Covino from the Dave Cantin Group!
About The Dave Cantin Group
Headquartered in New York, NY, The Dave Cantin Group (DCG) is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups. Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide as well as other worthy charitable initiatives its clients are passionate about. For more information, please visit davecantingroup.com.
Media contact:
Katie Merx
kmerx@lambert.com
313.510.5090
