Penske adds Honda store in Texas, plus other dealer group expansions

Penske Automotive Group has expanded its presence in the Austin/Round Rock market in Texas with the grand opening of Honda Leander.
The new dealership, located in Leander, Texas, is the retailer’s 14th Honda store overall and is its ninth dealership in the market.
The store has more than 46,000 square feet of facilities, located on more than nine acres. It includes 27 service bays.
“We are pleased to add Honda Leander to Penske Automotive Group,” Penske president Rob Kurnick said in a news release.
“The new Honda dealership adds to the company's existing dealership presence in the Austin/Round Rock, Texas market where we currently operate eight other dealerships and two collision centers,” Kurnick added.
In other expansion moves among dealer groups, Keeler Motor Car Co. teamed up with Bain Capital-backed Open Road Capital to purchase BMW Ridgefield in Connecticut, according to a December news release from seller-side advisor Haig Partners, LLC.
Haig Partners founding partner Nathan Klebacha was the seller’s advisor.
“As we were evaluating our strategic options with Nate it became clear that market conditions were very attractive and the BMW brand was in high demand,” BMW of Ridgefield dealer principal Ed McGill said in a news release.
“It was the right time and the right buyer for us. I am extremely proud of the reputation we built at BMW of Ridgefield and congratulate the team at Keeler. We look forward to seeing the continued growth of BMW of Ridgefield, and additional opportunities for all our talented associates.”
Keeler Motor Car Co. chief executive officer Jesse Hord added: “We are thrilled to welcome the team at BMW of Ridgefield to Keeler and excited about expanding our footprint into the state of Connecticut. Ed McGill and his team developed a special business at BMW of Ridgefield and we want to maintain that legacy.”
Elsewhere, Dobbs Equity Partners has acquired Papa’s Dodge in New Britain, Conn., according to a news release from M&A advisor Generational Equity, which advised the seller in the transaction.
Dobbs Family Automotive, which is a holding of Dobbs Equity Partners, is a Memphis, Tenn.-based dealer group with nine stores.
“At Generational Equity we are a strong believer of preserving the legacy of our clients. Dobbs' Family has a proven history of successful auto dealership ownership for an almost 100 years,” said Ahmad Behjati, who is managing director of M&A at Generational Equity, in a news release.
“I had a pleasure of meeting John Hull Dobbs, Jr. CEO and working with Rick Greene the COO of Dobbs Equity Partners to bring this transaction to a successful closing,” said Behjati.
“I am confident the Dobbs’ Family will be great steward of Papa's Dodge, and its generational legacy.”