FORT LAUDERDALE, Fla., Nov. 23, 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 Albany, NY-based Capital Luxury Cars on its sale to McGovern Automotive Group. The transaction included Capital Volvo Cars of Albany and Jaguar Land Rover Albany.
Capital Volvo, acquired in 2006, was Eric Kahn’s first dealership. He added on Jaguar and Land Rover in 2010. Under Kahn’s leadership, the dealerships reinvested in the business and the community, including the construction of an all-new Volvo dealership facility completed in July of 2021.
Kahn said, “The sale of the stores is bittersweet. Capital Volvo was my first store. I was proud of the team we built and the success we had both there and at Jaguar Land Rover Albany. However, I decided it was the right time to focus my energies and resources on the Friendly brand and stores that I own in the mid-Hudson Valley and Syracuse.
We want to thank Nate Klebacha for his expertise and good judgment in identifying Matt McGovern as the right buyer for our dealerships. He’s a great operator and in recent years has grown faster than perhaps any dealer in the northeast. I feel confident that Matt and the Capital Luxury Cars team can continue to grow the dealerships and take them to the next level.”
Klebacha said, “This transaction matches a pattern we are seeing of local dealership groups being sold to larger groups. The added scale and brands allow the larger consolidators to invest even more in the technology, processes, and people necessary to grow into the next decade.
I believed Matt McGovern would be a great fit for the dealerships because of his growing platform and ability to successfully integrate dealerships into his Northeast group. The introduction resulted in a perfect combination of a dealer who sought to add new brands and a dealer looking to focus on his core mid-Hudson Valley locations. I’d like to thank Eric for the opportunity to represent his well-respected automotive group throughout this transaction.”
McGovern Automotive Group, based in Boston, MA is led by Matt McGovern. These are the 21st and 22nd dealerships of the rapidly expanding McGovern Automotive Group.
“Our focus has been to acquire premium brands in top retail locations. Our current brand lineup represents about 75% of total industry sales across our 23 dealerships. JLR & Volvo are core franchises that we covet, yet rarely come available. We are excited to welcome the dealerships’ employees into our organization and to serve the Albany community,” said Matt McGovern. “I want to thank Nate Klebacha for bringing us this unique opportunity.”
The team at Haig Partners has been involved in the purchase or sale of 64 dealerships in the Northeast and a total of 40 dealerships nationwide so far in 2022.
About Haig Partners
Haig 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 590 dealerships for over $9.3 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:
Nathan Klebacha, Partner
Haig Partners
e: [email protected]
p: (917) 288-5414
Press Contact:
Aimee Allen, Director of Marketing and Business Development
Haig Partners
e: [email protected]
p: (603) 933-2194
SOURCE Haig Partners
