Foundation Automotive Corp Sells Jones Chevrolet, CDJR, GMC, & Nissan
Foundation Automotive Corp has sold four Tennessee dealerships to Jones Motor Company in a transaction facilitated by Performance Brokerage Services. The dealerships include Jones Chevrolet Humboldt, Jones Nissan of Savannah, Jones GMC of Savannah, and Jones Chrysler Dodge Jeep Ram of Savannah. The transaction is a strategic move for Foundation Automotive to refocus on its core group of stores in Colorado and Texas. The sale enables Jones Motor Company, a family-owned dealership group that’s operated since 1960, to expand its presence with brands like Chevrolet, Nissan, GMC, and Chrysler.
Performance Brokerage Services described the sale as complex but successful, indicating the importance of collaboration between both parties. For Foundation Automotive, the deal allows for sharper operational focus, while Jones Motor Company reinforces its footprint in Tennessee, continuing to serve local communities with trusted service. The dealerships will continue to operate at their current locations.
North Olmsted Chrysler Jeep Dodge Ram Sold to Serpentini Auto Group
Serpentini Auto Group has purchased North Olmsted Chrysler Jeep Dodge Ram in Ohio in a sale facilitated by the Tim Lamb Group. Formerly owned by Paul Hrnchar, Jr., the dealership has been rebranded as Serpentini Chrysler Dodge Jeep Ram North Olmsted and will continue operations at its current location. They also plan to update the showroom to tailor it specifically to the Jeep Brand. The 4.3-acre facility currently includes a showroom, service, and parts center, along with a separate body shop. The Hrnchar family will retain ownership of Alfa Romeo & FIAT of Strongsville.
“Paul Hrnchar Jr. and the Hrnchar family have been outstanding ambassadors for Chrysler, Dodge, Jeep, and Ram, delivering exceptional sales and service while fostering strong loyalty among customers and employees,” said Steve Corle, Director at Tim Lamb Group. “I’m confident the dealership will be in good hands with the Serpentini family.”
For Serpentini Auto Group, led by Bob Serpentini, the acquisition strengthens its presence in Northeast Ohio, adding to its portfolio of seven existing dealerships in Ohio and Florida. Known for exceptional customer service and community engagement, the family-owned business plans a seamless transition for customers and employees at the North Olmsted location.
Salt Lake Valley Auto Group Acquires Larry H. Miller Ford, Chevrolet and CDJR Dealerships in Provo, Utah
Asbury Automotive Group has sold three Larry H. Miller dealerships in Provo, Utah, to Salt Lake Valley Auto Group in a sale facilitated by Kerrigan Advisors. The transaction includes Ford, Chevrolet, and Chrysler Dodge Jeep Ram (CDJR) franchises. This move allows Salt Lake Valley Auto Group, owned by the Keyvani family, to expand its Utah operations. For Asbury Automotive Group, the sale aligns with their broader strategy to refine their portfolio, focusing on other growth opportunities.
“Asbury’s approach to portfolio management is a great example of how the buy/sell market continues to evolve, with well-capitalized groups thoughtfully rebalancing their assets to align with long-term growth goals,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “We’re proud to support our clients in executing transactions that advance both their financial and operational objectives. Transactions like this one highlight the continued strength of the buy/sell market, particularly in high growth markets like Utah.”
The dealerships, known for their longstanding presence in Provo, further bolster Salt Lake Valley Auto Group’s capacity to deliver a diverse range of vehicles and services to local consumers. Both parties have expressed optimism about the sale’s potential to drive future success.
“Buyers are increasingly focused on high-growth markets, and Utah stands out as one of the most attractive states for automotive retail investment,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “With strong population growth, a resilient economy and rising vehicle demand, it is no surprise that opportunities like this are in high demand.”
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