Haig Partners served as the exclusive sell-side advisor on the sale of the #2 highest-volume Kia dealership in the nation, Hollywood Kia, on its sale to Morgan Auto Group. Hollywood Kia is located in Hollywood, FL and was owned by Joe Levy and Steve Gutstein. The sale of Hollywood Kia sets a record for the most blue sky value ever paid for a Kia dealership, according to Kia executives.
Joe Levy, the former owner, shared, “It was a pleasure for our family to own Hollywood Kia for the past 16 years, but we have decided to focus our efforts on real estate development. The auto industry is becoming a more complex business where companies like Morgan Auto Group will thrive in the future. Larry “Captain” Morgan and I became friends during this process, and I know they will take good care of our people. My partner, Steve Gutstein, will be staying on to continue to run the dealership, and together, they will be a dream team for Kia.
“I’m also grateful to my buy-sell advisors and lawyer who helped make this deal come together. Alan Haig, Derek Garber and Matt DeSantis of Haig Partners lived up to their impressive reputation. They have relationships with leading buyers around the country and they delivered in terms of price, confidentiality and speed. I’d also like to thank our attorney, Alex Kurkin of Kurkin Forehand Brandes LLP. Alex has been a trusted advisor to us for many years and he helped to make this transaction go very smoothly for us.”
