Murgado Automotive Group has broadened its portfolio with the acquisition of Mercedes-benz Of Midlothian, located in the Richmond, Virginia region. This acquisition, which also included Mercedes-Benz of Richmond, marks a significant expansion for Murgado and signifies continued evolution in the automotive retail landscape. The transaction follows the recent sale of McGeorge Toyota, further highlighting changes within the McGeorge family of dealerships. Haig Partners LLC served as the exclusive advisor to the seller in this noteworthy deal.
For over six decades, the McGeorge family dealerships have been a cornerstone of the Richmond automotive community. Starting from The David R. McGeorge Car Company, a used car venture, the family’s journey into luxury automotive retail began with the acquisition of Mercedes-Benz of Richmond in 1955. Mercedes-Benz of Midlothian was later added to their holdings in 2003, building upon a legacy of automotive excellence and customer service. Under the leadership of Rod McGeorge, the McGeorge dealerships grew to employ over 300 individuals, becoming a substantial operation in the Virginia market.
Reflecting on the dealerships’ history, Rod McGeorge, the former owner, shared his sentiments: “My grandfather initiated our involvement in franchised auto retail with Mercedes-Benz of Richmond, driven by a vision for growth. My father continued to build upon this, and as I transition away, I am filled with immense pride in our collective accomplishments over these many years. I am eager to dedicate time to personal pursuits after years of hard work and commitment. It has been an exceptional journey, and I am confident that Murgado Automotive Group will uphold the tradition of excellence we have cultivated.”
Kevin Nill, Managing Director of Haig Partners, who advised McGeorge on the sale, commented on the high demand for Mercedes-Benz franchises: “Similar to Toyota, Mercedes-Benz is a highly sought-after franchise, and the appeal of the Richmond, VA, market amplified interest from numerous prominent buyers.”
Nill further elaborated on the advisory role, stating, “Advising clients to maximize the value of their life’s work is a privilege. In automotive dealership sales, the process extends beyond mere financial figures. It involves nurturing strong buyer relationships and possessing in-depth knowledge of complex OEM requirements and approval procedures.”
Mario Murgado, CEO of Murgado Automotive Group, expressed enthusiasm for the acquisition: “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have consistently demonstrated outstanding performance in Central Virginia for many years. I extend my gratitude to the McGeorge family for collaborating with us on this opportunity and to Mercedes-Benz for entrusting our group to further develop the legacy of these dealerships, representing one of the world’s most prestigious brands.” This acquisition signals a promising new chapter for Mercedes-Benz of Midlothian and its continued service to the Richmond community under Murgado Automotive Group’s stewardship.
