Fresno, Calif. – In a significant move within the automotive retail sector, Mercedes-Benz of Fresno has been acquired by Alpha Auto Group (AAG), a prominent and rapidly growing consolidator of auto dealerships across North America. This acquisition, advised exclusively by The Presidio Group LLC, an independent merchant banking firm specializing in automotive retail, marks AAG’s first venture into the California market and also the first Mercedes-Benz dealership to join their expanding portfolio.
For Scott Biehl, the former dealer principal of Mercedes-Benz of Fresno, finding the right buyer was paramount. “It was essential for us to find an outstanding buyer, someone we were comfortable with, especially for our team in Fresno,” Biehl stated. He emphasized the trust placed in The Presidio Group to manage the transaction, adding, “Knowing The Presidio Group would lead this effort put everyone at ease. They accomplished all of our goals. Their experience and professionalism is second to none.” Biehl expressed confidence in the transition, noting, “Working with The Presidio Group gave me a great deal of confidence that this transaction would be seamless. The commitment we’ve made to the employees, and the greater Fresno community, will continue under the leadership of AAG.”
Alpha Auto Group’s acquisition of Mercedes-Benz of Fresno signals a strategic expansion. AAG already boasts a diverse collection of 13 dealerships across North America, featuring brands such as Acura, BMW, Honda, Hyundai, Mini, Subaru, and Toyota. The addition of Mercedes-Benz, particularly in the robust California market, is a significant step for the group. According to the California New Car Dealers Association, Mercedes-Benz market share in California has seen growth, reaching 4.2 percent through June 2022, up from 3.9 percent in the previous year.
AAG conveyed their enthusiasm for this new acquisition and their entry into California. “We are thrilled to welcome our new Fresno teammates to the AAG family,” AAG announced in a statement. “Adding Mercedes-Benz to our lineup has long been a goal of ours. We are excited to add the dynamic California market to our portfolio. It is a strategic addition and building block for our growth. We pledge to uphold the high standard that Scott and his colleagues set in Fresno.”
The Presidio Group played a crucial role in facilitating this deal, leveraging their deep industry expertise and understanding of client objectives. George Karolis, President and Partner at Presidio, commented, “Presidio’s clients return to us because we understand their goals. We have a longstanding relationship with Scott Biehl, so when we matched him and AAG, we knew both parties would emerge as winners.” Brodie Cobb, Founder and CEO of The Presidio Group, highlighted the firm’s client-centric approach, stating, “We treat people like we want to be treated. With Scott, like all others, we want clients for a lifetime. That’s our mindset and we feel we have achieved those goals here.”
Legal counsel for the seller, Scott Biehl, was provided by Richard Rasmussen of Lagerlof, LLP, while J. Gregory Humphries of Shutts & Bowen, LLP, served as legal counsel to Alpha Auto Group. The Presidio Group’s advisory services were delivered through its investment bank, Presidio Merchant Partners LLC.
About The Presidio Group LLC
Founded in 1998, The Presidio Group LLC is dedicated to prioritizing client interests. This commitment has fostered trust with clients throughout the United States. Presidio professionals have collectively managed over 210 transactions valued at more than $14 billion. The firm is also known for publishing Where the Rubber Meets the Road, a respected source of insights into the automotive retail landscape and M&A activity. Headquartered in Denver and Atlanta, Presidio Merchant Partners LLC, a subsidiary of The Presidio Group LLC, is a member of FINRA and SIPC. For further information, please visit www.thepresidiogroup.com.
Contacts:
Brodie Cobb (720) 844-3151 [email protected]
George Karolis (678) 831-5520 [email protected]
