Fort Lauderdale, FL – Haig Partners LLC, a leading buy-sell advisory firm to higher-value auto dealers, served as the exclusive sell-side advisor to Vic Bailey III and his family on the sale of Vic Bailey Automotive, located in Spartanburg, SC, to Hudson Automotive Group. The sale included all five of Vic Bailey Automotive’s dealerships, including Vic Bailey Honda, Subaru, Ford-Lincoln, Mazda, and Volkswagen.
Vic Bailey Automotive, a second-generation, family-owned-and-operated business, has served the greater Spartanburg and Greenville, SC region for over 54 years. Vic Bailey Jr. opened his first dealership, Vic Bailey Lincoln Mercury, in 1969. Vic Bailey Jr. and later his son, Vic Bailey III, have played pivotal roles in establishing and growing the business into one of the leading automotive groups in South Carolina. Their commitment to customer satisfaction and business integrity has been a driving force behind the group's success. Vic Bailey III won the prestigious TIME Dealer of the Year award in 2012. He has operated the stores alongside his brother-in-law Chip Foster, with support from many third-generation members of the Bailey family who actively contributed to the expansion of their grandfather’s dealership legacy.
John Davis, Managing Director at Haig Partners, said, “It has been such a pleasure working with Vic, Chip, and the Bailey family. Their reputation is beyond reproach, and their dedication and commitment to their employees, customers, and community is remarkable. I have spent my 35+ year career serving automotive dealers as a trusted advisor, as both a CPA and a buy-sell advisor, and the most satisfaction comes when I am able to help a family accomplish a successful goal, such as selling their business. The Haig process, developed by years of auto retail experience, presents a clear picture of the investment opportunity, providing reliable information and telling a compelling story to potential investors, ultimately producing the most motivated buyer. Hudson Automotive was clearly the right group to continue serving the Spartanburg community, and I look forward to following David and his team’s success.
“This sale continues to exemplify the demand for acquisitions in growing markets, particularly in the Southeast. The I-85 corridor through upstate South Carolina is a rapidly growing market. The expansion over the last decade and the potential for further economic development in the future are “off the charts,” as this area will continue to be one of the fastest-growing markets in the country. Dealerships in this region will continue to command high prices thanks to the rapidly increasing population and economy.”
Read the full press release here.
