SAN FRANCISCO, Aug. 25, 2020 /PRNewswire/ — Haig Partners LLC was the exclusive financial advisor to Holman Automotive (“Holman”) in the sale of Audi Palo Alto to Swickard Auto Group (“Swickard”).
“The Holman Automotive team would like to congratulate Jeff Swickard on the purchase of Audi Palo Alto. After much consideration, we decided the sale of the dealership to the Swickard Auto Group would be best for both Holman and the Audi Palo Alto employees,” said Brian Bates, President and CEO of Holman Consumer Services. Holman is one of the largest privately held auto groups in the US with 32 dealerships that generated approximately $3.3B in annual revenue in 2019. “We are grateful to have had the opportunity to serve Audi customers in the Bay Area and to have worked with so many special associates at Audi Palo Alto. I’d like to thank Alan Haig at Haig Partners for his professionalism and assistance throughout the sale process.”
“We’re very excited to expand our group into Palo Alto,” said Jeff Swickard, the CEO at Swickard Auto Group. “This dealership will allow us to serve Audi customers and is an excellent fit with the other dealerships we recently purchased in the area.” Swickard recently purchased Lexus of Fremont, Jaguar – Land Rover San Francisco, and Land Rover of Redwood City. Swickard owns 16 dealerships in California, Georgia, Oregon and Washington.
Alan Haig, President of Haig Partners, stated, “It was a pleasure to advise the Holman team on the sale of Audi Palo Alto. They wanted to find a buyer that had an excellent reputation who would be well received by Audi and the Palo Alto community. We knew Jeff Swickard would be the right partner for them in this capital-intensive transaction that required absolute confidentiality and certainty of approval. We wish him well as he continues to build one of the leading dealership groups in the country.”
Haig Partners LLC is a boutique investment banking firm that focuses on auto/heavy truck/RV dealers and the companies that serve them. It is the leading buy-sell advisory firm to owners of higher value dealerships and dealership groups. Since 1996, the principals at Haig Partners have completed 187 dealership transactions totaling over $5.4 billion, more than any other team in the industry. They also publish the widely followed Haig Report that tracks trends in the auto industry and how they impact dealership valuations. The latest Haig Report is available here. Alan Haig is a frequent speaker at leading industry events. For more information, visit www.haig partners.com.
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SOURCE Haig Partners