Another busy week of dealership activities unfolded with an acquisition involving seven franchises, a dealer association rolling out its annual effort to help college students as well as another large dealer group raising $100,000 for two dozen charities.
Let’s begin with the latest M&A move involving Haig Partners, which was the exclusive sell-side advisor to Cincinnati-based Superior Automotive Group on the sale of its seven Ohio dealerships to Jeff Wyler Automotive Family.
According to a news release from Haig, the transaction includes Superior Acura, Superior Honda, Superior Kia, Superior Hyundai North, and Superior Hyundai South in greater Cincinnati and Superior Acura of Dayton and Superior Hyundai of Beavercreek in greater Dayton.
Haig recapped that Superior Automotive Group was established in 1924 and is one of Ohio’s oldest dealership groups. With roots based in Cincinnati, the business expanded over the years to serve all of Ohio and northern Kentucky.
“I am happy the Wylers are buying the stores as I know they will continue to build on the legacy our family has created,” Superior Automotive Group president John Betagole said in the news release.
Haig mentioned the Jeff Wyler Automotive Family now owns 23 dealerships located in Ohio, Kentucky and Indiana.
“We are excited to bring these seven Superior dealerships into the Jeff Wyler Automotive Family. We know one direction — forward — as we continue to grow and lead the market not only in Cincinnati, but nationwide,” David Wyler of the Jeff Wyler Automotive Family said.
“Our focus is to not only grow but to also become more consumer facing every year, and the addition of these dealerships means an even larger selection of inventory for our shoppers locally and across the U.S,” Wyler added.
The team at Haig Partners has been involved in the purchase or sale of 54 dealerships in the Midwest Region.
“Some dealers who may not have previously considered selling are reevaluating their options. Dealership profits are soaring, and the demand for stores continues to hit record levels,” said Kevin Nill, a partner with Haig Partners. “It was an honor to work with the Betagole family to help them navigate the decision to sell the family business. We appreciate their trust in the team at Haig Partners to help them maximize the value of their lives’ work.”
CDK Global, NAMAD launches sixth annual Fueling Careers Scholarship
Future automotive leaders again can get some assistance through a program orchestrated by CDK Global and the National Association of Minority Automobile Dealers (NAMAD),
This week, CDK and NAMAD opened the application process for the sixth annual Fueling Careers Scholarship Program. According to a news release the program supports ethnic minority high school students of dealership employees who demonstrate financial need in their pursuit of a college education.
The program is funded by CDK and will award up to five $10,000 scholarships per year to high school seniors entering an accredited college or university.
Since 2017, CDK and NAMAD have awarded $250,000 in scholarships.
Kathy Gilbert is senior director of minority dealers and women retail at CDK Global.
“We are passionate about continuing to support ambitious young men and women who are committed to pursuing educational goals that prepare them for meaningful, productive and fulfilling careers,” said Gilbert, who also was among the Women in Retail honorees highlighted during Used Car Week 2019.
“NAMAD has been an ideal partner for making this program a reality for six consecutive years, as we continue working toward enhancing the lives of these students and their families and empowering them to make significant contributions to society,” Gilbert continued in the news release
Candidates can submit applications through May 6 on the Fueling Careers Scholarship Program website. Recipients will be announced at the NAMAD Annual Meeting.
The scholarship application and award process are managed by International Scholarship and Tuition Services, Inc. (ISTS).
The news release indicated dealership employees of a NAMAD member with high school students will need to complete an online application and satisfy all eligibility requirements.
NAMAD president Damon Lester said, “We have a unique opportunity and important responsibility to help shape the future talent for the automotive industry.
“Supporting our minority dealer community has been a critical platform for both CDK and NAMAD. Through this scholarship program, we are paving the way for remarkable students within our minority dealer body to succeed,” Lester added.
The news release also highlighted the impact the program can make. Sebastian Watler, a mechanical engineering major at Lamar University, was a 2021 Fueling Careers Scholarship winner.
“I am incredibly grateful to CDK and NAMAD for this blessing,” Watler said. “Ever since I was young, I have always been interested in the idea of building something of my own creation and imagination. Thus, I took a major interest in science and technology.
“The world needs better advances in technology, and the automobile industry is one of the areas I could help. No matter where you are in the world, cars are around you,” Watler went on to say.
Philanthropy at Park Place Dealerships
The American International Automobile Dealers Association used its weekly philanthropy to point out the achievements by Park Place Dealerships, which became part of Asbury Automotive Group in August 2020.
According to a blog post on the group’s website, Park Place Dealerships gave $100,000 to 24 local non-profits through the SEASON OF GIVING campaign, which celebrated its 35th year in north Texas.
Park Place said selected the organizations for its SEASON OF GIVING campaign because of their commitment to serving the Dallas/Fort Worth community.
The group highlighted that a committee comprised of Park Place members from different dealerships across north Texas selected the non-profits out of more than 350 applications received.
Under Park Place Cares, the company’s philanthropic arm, the company donated $100,000 to 24 charities that met the following criteria:
—A 501(c)(3) non-profit organization
—Supports one of Park Place Cares’ Pillars of Giving, which include education, medical, advocacy, or the arts
—Serves at least one of the following counties: Dallas, Tarrant, Collin, Denton, Ellis, Rockwall, Kaufman, Hunt, or Johnson
—The charity cannot have received donations or in-kind support from Park Place in 2021
“Selecting these non-profits was very challenging,” said Tony Carimi, managing director of Park Place Dealerships. “There are so many worthy non-profits doing admirable work in the areas we would like to impact. Our team had the difficult task of narrowing down the charities from 350 to 24 across North Texas to make the greatest impact during our Season of Giving.”
The charities receiving a grant included:
Denton Co. Friends of the Family
Journey to Dream Foundation
For Oak Cliff
Rainbow Room of Rockwall
A Wish with Wings
Don’t Forget to Feed Me Pet Food Bank
Tara Sawyer Foundation
Defenders of Freedom
Dwell with Dignity
Cara Mîa Theatre
Texas Winds Musical Outreach
Sixty & Better
The Jordan Elizabeth Harris Foundation
Bettie Gonzalez Foundation of Hope
Computers for the Blind
Heavenly Hooves Therapeutic & Recreational Riding Center
Heroes for Children
“We are humbled to have received such an incredible response to the SEASON OF GIVING campaign with the opportunity to reach so many people across our community through these outstanding non-profits,” said Anam Ali Hashambhai, marketing director for Park Place Dealerships. “Over the past 35 years, we’ve donated millions of dollars and countless volunteer hours to support great causes across north Texas, but this is the first time we have implemented this type of giveaway.
“The SEASON OF GIVING campaign expands our benevolence giving this holiday season to organizations we haven’t worked with previously. We look forward to developing these new relationships in the year to come,” Ali Hashambhai went on to say.