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Announced

Completed

Lithia & Driveway completed the acquisition of Sterling Luxury Group for $210m.

Financials

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Transaction Value£159m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales0.9x
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

United States

Private

Single Bidder

car rental

Friendly

Acquisition

Majority

Completed

Rental Services: Consumer

Synopsis

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Lithia & Driveway, which retails, finances, and services new and used vehicles, completed the acquisition of Sterling Luxury Group, a provider of a platform to the retail sale of new and used automobiles, for $210m. “Entering our seventh top 10 market in the country further enables LAD to conveniently and affordably serve our customers throughout their complete ownership lifecycle. This acquisition accelerates our unique omni-channel strategy and takes us one large step closer to achieving the year one network growth aspiration of our five-year 50/50 plan,” Bryan DeBoer, Lithia & Driveway President and CEO.

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