FORT LAUDERDALE, Fla., Oct. 18, 2022 /PRNewswire/ — Haig Partners LLC, the leading buy-sell advisory firm to higher value dealerships and dealership groups, was the exclusive sell-side advisor to Canton, Ohio-based Waikem Auto Family on the sale of its six dealerships to Diehl Automotive Group. The transaction includes Honda, Ford, Kia, Subaru, Hyundai and Mitsubishi dealerships plus a collision center and Quick Lane facility.
Waikem Auto Family is a third-generation business that has been a mainstay in the Canton, Ohio area for more than 70 years. It was established in 1957 by George Waikem Sr., with a single Ford dealership. Sons Chip, Doug, and David have grown the group to six locations, and third-generation family members, Craig Waikem, George “Deuce” Waikem II and Chris Waikem are members of the management team.
Haig Partners has been involved in the purchase or sale of 38 dealerships nationwide so far in 2022.
“We are extremely happy to have found another family looking to continue selling and servicing cars in Stark County, Ohio the right way. We are thankful to our associates and customers over the last 65+ years,” said David Waikem, President.
“Automotive retail continues to evolve rapidly. Consumers are demanding a more efficient, technology-driven buying experience and broad inventory selection. As a result, dealers are having to adapt quickly to a shifting environment and the need for scale to compete effectively. Dealership values continue to be very strong and buyer demand is as robust as ever. This has many dealers analyzing their current situation and making the decision to exit while they can get a premium for their stores,” shared Kevin Nill, Partner with Haig Partners. “I am grateful to the Waikem family for their trust in me and my firm to run a competitive process and uncover the best possible buyer for their family business.”
Diehl Automotive Group, based in Butler, PA is led by Corina Diehl and her son, Matt Diehl. As reported by Automotive News, this expands their footprint into Ohio.
“We are looking forward to serving Massillon, greater Canton, and the surrounding areas for many years to come. We are honored to carry the legacy the Waikem family has built with the incredible team they have assembled,” shared Matt Diehl, Vice President.
Charles E. Ringer, Esquire, and Robert Poklar of Weston Hurd, LLP served as legal counsel to Waikem Auto Family.
The team at Haig Partners has been involved in the purchase or sale of 60 dealerships in the Midwest Region and a total of 38 dealerships nationwide so far in 2022.
About Haig PartnersHaig Partners LLC helps dealers to maximize the value of their businesses when they are ready to sell. The team at Haig Partners has unmatched experience with executives from leading retail dealer groups and financial institutions. They have advised on the purchase or sale of more than 580 dealerships for over $9.0 billion, including 24 of the Top 150 Dealership Groups, more than any other firm. Haig Partners leverages its expertise and relationships to lead clients through a confidential and customizable sales process that also maximizes the value of their businesses. They author the Haig Report, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and are co-author of NADA’s Guide, “Buying and Selling a Dealership.” For more information, visit www.haigpartners.com.
Transaction Contact:Kevin Nill, Partner
Haig Partners
e: [email protected]
p: (904) 234-0008
Press Contact:Aimee Allen, Director of Marketing and Business Development
Haig Partners
e: [email protected]
p: (603) 933-2194
SOURCE Haig Partners