SAN FRANCISCO -

Aided by guidance from the Presidio Group, Rene Isip and John Eagle completed the sale of their dealership, Toyota of Lewisville in Lewisville, Texas, to RLJ-McLarty-Landers Automotive Holdings, a Little Rock, Ark.-based dealer group.

Officials indicated that terms of the transaction were not disclosed

“It was a rewarding experience to build Toyota of Lewisville into one of the premier Toyota dealerships in Texas,” Isip said. “But with the current market, this was an opportune time to sell to a strong buyer and invest our capital in franchises that suit our group’s abilities to grow revenues and earnings from the ground up.

“John and I were impressed that Presidio was able to find a buyer who recognizes the value our team at Toyota of Lewisville has created,” Isip continued.

None of the other nine dealerships owned by Isip and Eagle is for sale. Presidio mentioned they plan on adding to their auto holdings in future years. The John Eagle Automotive Group, for example, will open Honda of Rockwall, Texas in September.

Meanwhile, Franklin McLarty, chief executive officer of RLJ-McLarty-Landers, shared his reaction to the acquisition.

“We are pleased to expand our presence in the Dallas-Fort Worth market and become part of the Lewisville community,” McLarty said. “We look forward to serving the people there with the same level of care as we do in our other locations across the United States.

“We are excited to expand our relationship with Toyota in one of the strongest car markets in the country,” he went on to say.

While the publicly traded dealer groups have discussed acquisition during recent quarterly conference calls, Alan Haig, managing director at Presidio and head of the firm’s automotive practice, gave his assessment to why acquisitions like the one made by RLJ-McLarty-Landers are now happening.

“The sale of Toyota of Lewisville shows that the market for auto dealerships is very healthy and that private groups are often the leading buyers,” Haig said. “They have the capital, the expertise, and the confidence to tackle very large opportunities.

“The appetite for Texas dealerships is especially strong: this is the second company we’ve sold there this year and both were performing remarkably well,” Haig went on to say. “It’s good to be a dealer in Texas.” 

Shackleford Melton & McKinley served as legal counsel for Toyota of Lewisville while Arent Fox represented RLJ-McLarty-Landers. Accounting services were provided by Crowe Horwath to RLJ-McLarty-Landers and Dixon Hughes Goodman to Toyota of Lewisville.

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