Haig Partners served as the exclusive sell-side advisor to the owners of Toyota of North Charlotte on its sale to Hudson Automotive Group. Toyota of North Charlotte was owned by siblings Joe Siviglia and Bob Siviglia.
Joe Siviglia shared, “Toyota of North Charlotte is a highly profitable dealership and we have enjoyed serving the Charlotte area for over 20 years. It wasn’t an easy decision to sell, but my sons and I have decided we want to expand our operations in Florida to complement our other two Toyota stores in the Orlando area. Selling Toyota of North Charlotte provides us with greater resources and an increased focus on growth in Florida. We congratulate David Hudson on this transaction. He is adding an outstanding dealership operated by highly talented folks who do an excellent job servicing customers. And I’d like to thank Alan Haig, Derek Garber, and Markus Haig from Haig Partners who know the buy-sell world backwards and forwards, including all the leading buyers. I trusted them, and they helped me to achieve my objectives. They are true professionals.”
Alan Haig, President of Haig Partners, shared, “We had all the ingredients for a successful transaction here. Excellent performance, Toyota, and the Southeast. The result was a desirable outcome for all involved. We congratulate the Siviglia family who can now focus their efforts to further build their dealership group near their other stores in Florida, and we tip our hat to the Hudson Automotive Group, which is adding another excellent dealership to their growing company. This transaction is similar to some others that we are involved in today, in which leading dealers are choosing to divest dealerships that are in outlying areas and focus on growth in their core markets. Concentration enhances performance for many dealers.
“This transaction also demonstrates that the demand for auto dealerships remains strong even as profits have begun to tick down. We’ve had the pleasure of representing owners of 23 dealerships so far in 2024 and the values have been impressive, including what we believe are record-setting prices for BMW and Honda franchises. Buyers expect that dealerships will continue to provide an attractive return on investment and have confidence in the diversified business model, which brings healthy profits in almost all economic environments.”
The team at Haig Partners has been involved in the purchase or sale of 34 Toyota stores nationwide, and the sale of Toyota of North Charlotte also represents the 19th dealership the team has bought or sold in the Carolinas.
