Fort Lauderdale, FL – September 15, 2022 – Haig Partners LLC, the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive advisor on the sale of J&M Chevrolet, located outside Raleigh, North Carolina to Dan Miller and Mark Zurales.
J&M Chevrolet was incorporated in the late 1920s, making it one of the oldest dealerships serving Wake County and the greater Raleigh-Durham market. Carlos Wheeler, a second-generation dealer, alongside long-time business partner David Stepp and the team at J&M Chevrolet has built a reputation for providing exceptional customer service.
“We are blessed to have had the opportunity to provide a well-respected brand to our customers and communities. Our family has been serving the greater Raleigh-Durham area for decades, and it has been fun to watch the area grow. We will miss our customers and serving the community but know that it will continue with Dan and his team,” shared Carlos Wheeler, Dealer Principal. “I am extremely grateful to John Davis and the team at Haig Partners. We could not have done this without them. They are experts in auto retail, run an exceptional process, and their depth of industry relationships was critical in finding the absolute right buyer. We have a smaller dealership and thought the best buyer might be local. But Haig Partners knew this market has been growing rapidly, which made our store more desirable and brought a buyer from out of state who paid a higher value. In addition, they set themselves apart by understanding that this was not just a business transaction for my family and me, but an emotional journey, too.”
John Davis, Managing Director with Haig Partners, shared, “It was an honor to advise Carlos on the sale of his family’s dealership, and I congratulate him on his retirement! It was important to find a buyer who would appreciate what they have built and who would provide the same focus on the customers and communities they have served for so many years. J&M Chevrolet is in the suburbs of Raleigh, which has been growing rapidly. This transaction highlights the tremendous opportunity for smaller dealers in high-growth markets who may not recognize the desirability of their location.”
Dan Miller shared, “We are excited to add this store to our group. Carlos, David, and the J&M team have built an exceptional reputation with an excellent brand. I am grateful for their trust in us and am excited that David Stepp is remaining as General Manager to work alongside my partner and dealer principal, Mark Zurales under the new name, MZ Chevrolet.”
The team at Haig Partners has been involved in the purchase or sale of 32 dealerships nationwide so far in 2022.
Eric Pridgen of Underwood & Roberts, PLLC and Thurston Debnam of Smith Debnam Narron Drake Saintsing & Myers, LLP provided legal counsel to J&M Chevrolet, and Michael Charapp of Mahdavi Bacon Halfhill & Young, PLLC provided legal counsel to Dan Miller.
Download the complete press release here.
About Haig Partners
Haig Partners LLC helps dealers to maximize the value of their businesses when they are ready to sell. The team at Haig Partners has unmatched experience with executives from leading retail dealer groups and financial institutions. They have advised on the purchase or sale of more than 575 dealerships for over $9.0 billion, including 24 of the Top 150 Dealership Groups, more than any other firm. Haig Partners leverages its expertise and relationships to lead clients through a confidential and customizable sales process that also maximizes the value of their businesses. They author the Haig Report, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and are co-author of NADA’s Guide, “Buying and Selling a Dealership.” For more information, visit www.haigpartners.com.
Transaction Contact:
John Davis, Managing Director
Haig Partners
john@haigpartners.com
(404) 406-7110
Media Contact:
Aimee Allen, Director of Marketing and Business Development
Haig Partners
aimee@haigpartners.com
(603) 933-2194
