Patriot Automotive Group Sells Patriot Nissan in Salem, N.H.
Patriot Automotive Group has sold its Nissan dealership in Salem, New Hampshire, to James and Erik Kirste in a deal advised by The Presidio Group. This transaction, closed on June 2, was a strategic decision by Patriot owner Adam Arens to streamline his operations, while continuing to manage Subaru and Acura dealerships in Maine and Massachusetts.
For the Kirste brothers, who previously operated a Ford dealership, this acquisition represents a move to expand their footprint in the automotive market.
“The acquisition of the Nissan store in Salem is a strategic investment for my family, and we greatly appreciate the professionalism and efficiency that Patriot Automotive and The Presidio Group brought to the table,” James Kirste said. “We look forward to serving the Salem community and working with the talented staff at the dealership.”
The transaction is part of The Presidio Group’s active involvement in multiple dealership mergers and acquisitions, as the number of deals continues to increase over the summer months.
“We were honored to represent Patriot Automotive Group in the sale of its Nissan store,” said Alex Watterson, managing director of The Presidio Group. “Closing five transactions in June alone shows that deal pace in the market is picking up.”
Trust Auto Group Acquires Palmdale Kia
Trust Auto Group has acquired Palmdale Kia in Palmdale, CA from the Nouri/Shaver Automotive Group, a significant deal for both organizations. The transaction was facilitated by Performance Brokerage Services, with co-founder Jason Stopnitzky spearheading the deal. Trust Auto Group, known for its strong local presence across California, expanded its portfolio with this acquisition, adding to its existing locations in Costa Mesa, Lancaster, and Palmdale and its representation of brands like Honda, Subaru, and Lotus.
For Nouri/Shaver Automotive Group, one of the nation’s top dealership groups with 16 locations and over $2 billion in revenue, this marks the group’s fifth collaboration with Performance Brokerage Services. The Palmdale Kia dealership was even sold without ever officially being for sale on the market. Renamed Trust Kia of Palmdale, the dealership will continue operating at its current location, with Trust Auto Group emphasizing its commitment to maintaining customer and community relationships.
“I’m also grateful to Edgar Castellanos and Trust Auto Group for their trust and partnership in acquiring Palmdale Kia,” said Stopnitzky. “It’s been a pleasure to witness how both parties worked together seamlessly throughout the process, and I’m confident that the legacy of Palmdale Kia will continue under Trust Auto Group’s stewardship. The collaboration between both sides was a testament to what can be achieved when great people come together to achieve a common goal.”
Hodges Family Sells Mazda Dealerships in Record-Setting Deal
Hodges Mazda of the Avenues and Hodges Mazda of St. Augustine have been sold to the Morgan Automotive Group, Florida’s largest dealership group, in a sale facilitated by Haig Partners. This record-breaking transaction set a new benchmark for the blue-sky value paid for a Mazda dealership and marked the Hodges family’s exit from the auto retail industry. David and Dan Hodges, respected figures in the automotive community, plan to refocus on their non-automotive business ventures, including professional sports franchises and other entrepreneurial efforts.
“It has been an honor and a privilege to steward our two Mazda franchises over the last decade,” said David Hodges. “After much prayer and consideration, over the past year, it became evident that I was being led to move to the next chapter and exit the automotive business after 35 years. This was not a decision I took lightly as I am so bullish on the Mazda brand. However, it was clear and evident to me that God was moving me in a different direction.”
Morgan Automotive Group expressed its commitment to building on the foundation established by the Hodges family, emphasizing their dedication to customers and local communities in Jacksonville and St. Augustine. The deal underscores Morgan Automotive’s strategy to expand its presence across Florida,
“We’re honored to continue the legacy that David and Dan Hodges have built at Hodges Mazda,” said Larry Morgan, Chairman of Morgan Automotive Group. “I’ve known David for many years, and throughout this process, he demonstrated the same integrity and professionalism that have defined his career. We’re grateful that he and Dan are entrusting us with their business, and we look forward to building on their success while continuing to serve the Jacksonville and St. Augustine communities.”
Related Stories:
