Haig Partners LLC is pleased to have represented Gallery Automotive Group ("Gallery") in its sale to Prime Motor Group ("Prime"). Gallery consists of BMW Gallery Norwood, Honda Gallery, South Shore BMW, South Shore MINI, VW Gallery and Mazda Gallery.
The former owner said, "While this is a strategic exit, we have enjoyed serving our many customers in the Boston area, and we thank all of our associates and our OEM partners for their contributions to our shared success. Also, we are grateful to the team at Haig Partners who gave us expert advice along the way and helped us to navigate a complex transaction. Their experience in the auto industry was critical to getting this transaction closed."
Alan Haig and Nate Klebacha of Haig Partners LLC were the financial advisors to Gallery.
"We were very pleased to be involved in this transaction," said Alan Haig. "Gallery is one of the leading dealership groups in New England and we wish David Rosenberg and the Prime organization much success in the future. This transaction is another example of the ongoing strength of the buy-sell market for auto dealerships in many markets around the country." The sale of Gallery to Prime ranks as one of the highest value auto dealership transactions that has occurred in New England.
David Rosenberg, CEO at Prime Automotive, said, "It was a rare opportunity for us to be able to purchase such an attractive group of franchises. We are excited to offer these additional products to our customers, and we want to welcome all of the hard-working associates at Gallery." Prime Auto operates 63 dealerships in MA, ME, NH, VT, NY, NJ, PA and TX, making it one of the leading groups in the US. For more information, please visit www.driveprime.com.
About Haig Partners. Haig Partners LLC is the leading advisory firm for higher value dealerships and dealership groups. Since 1996, its founders have completed more than 170 dealership transactions for over 300 dealerships totaling over $4.2 billion, more than any other team in the industry. The value of transactions the founders have closed in all industries is over $7 billion. They also publish the widely followed Haig Report that tracks trends in the auto industry and how they impact dealership valuations. The latest Haig Report is available here. Alan Haig is a frequent speaker at leading industry events. For more information, visit www.haigpartners.com.