Pinnacle Brokers Three Deals in Texas
Pinnacle Mergers & Acquisitions recently completed multiple transactions in the Texas automotive market. South Austin Nissan and Baytown Nissan, both owned by Central Automotive Group and Hyundai of Silsbee owned by Dale Early.
South Austin Nissan was acquired by Julie Herrera, expanding IDEA Auto Group in her solo venture, and will now operate under City Limits Nissan. Herrera started IDEA Auto Group in 2022, spinning off from the Cavender Auto Family and naming her company using the letters representing her vision of inclusion, diversity, and equity in automotive.
Bravo Auto Group, owned by Raymond Palacios, purchased Baytown Nissan, which will operate under the same name. Palacios is originally from Houston, and this marks Bravo’s first store in the Houston market. Bravo has five other stores in Victoria, El Paso, and Las Cruces, New Mexico. Mike Sims, president of Pinnacle Mergers and Acquisitions, brokered the transaction.
Mike Terry and Jarryd Carver acquired Hyundai of Silsbee through their new partnership E1T1 Auto Group. This marks Terry’s fifth Texas store and third brand since becoming a dealer in 2019. The store will operate as Mike Terry Hyundai and is the first newly formed partnership store. Carver currently operates three stores in Virginia.
Open Road Capital Acquires Luxury Dealership
Edgar Castellanos and partners Open Road Capital acquired the automotive dealerships EuroCar and Lotus of Orange County from Z NAFE.
EuroCar is recognized as the West Coast’s largest luxury and exotic car boutique, where it holds an inventory of more than 150 of the world’s most distinctive automobiles in a 55,000-square-foot climate-controlled facility. Lotus of Orange County stands as the exclusive Lotus dealer in the region and is renowned as the premier Lotus dealership on the West Coast. The acquisition of the two dealerships by Castellanos and Open Road Capital (ORC) marks a significant milestone in expanding their footprint in the luxury and exotic car market.
“With EuroCar’s inventory, sales performance and an upcoming service expansion, along with Lotus of Orange County’s exclusive status, Castellanos and Open Road Capital are well-positioned to capitalize on opportunities in the region’s luxury and exotic vehicle market,” said Dave Cantin, CEO of Dave Cantin Group.
New Ford Dealership in Texas
PRIM Construction has broken ground on a new Ford dealership in Gordon, TX for the Holiday Auto Group.
Set for completion by April 2025, the dealership will feature an exterior sales building constructed entirely of brick, a nod to the famous Thurber brick plant near Gordon that supplied the bricks for Fort Worth’s Camp Bowie Boulevard and the historic Stockyards.
The 26,000 square foot dealership will house 17 service bays and boast a interior designed to enhance the customer experience. With its fireplace, deep leather chairs, and ranch-inspired ambiance, the new dealership aims to be not just a place to buy cars but a destination for car and truck buyers. PRIM Construction has a successful history of building automotive dealerships and says it is proud to bring this innovative project to life in Gordon.
“Projects like this one are what gets our team excited to go to work every day,” said Trent Prim. “The detail, the brick, the interior design, the history, everything about it puts a smile on our faces.”
“We look forward to growing Holiday Gordon Ford into a flagship location in a beautiful new facility built by PRIM,” said Matt Johnson of Holiday Auto Group. “We are proud of the legacy our dealership holds as one of the oldest Ford dealerships in the nation, and we look forward to continuing our service to the rural Texas community.”
BMW of Humboldt Bay Sold
Victory Automotive Group has purchased BMW of Humboldt Bay in McKinleyville, CA from Reza Lankarani in a deal brokered by Performance Brokerage Services.
Founded in 1997, Victory Automotive Group operates over 50 locations across 10 states and represents over a dozen franchises. BMW of Humboldt Bay is the only location offering BMW. Based on new vehicle retail sales, Victory Automotive Group is among the top-15 dealership groups nationwide. Founder and President, Jeffrey Cappo, works alongside his sons, Eric and Michael Cappo, who are heavily involved in the day-to-day operations.
BMW of Humboldt Bay will remain at its current location 1795 Central Avenue in McKinleyville.
