Merger Links

Asbury Automotive to acquire Koons Automotive Companies.

Announced

Transaction Tags

  • Motor Vehicle Manufacturing
  • Automobiles
  • United States
  • Acquisition
  • Domestic
  • Majority
  • Private
  • Pending
  • Friendly
  • Single Bidder

Synopsis

Asbury Automotive, an automotive retailer, agreed to acquire Koons Automotive Companies, a private auto dealership group. Financial terms were not disclosed. “This acquisition is transformative for our company, enabling Asbury to further expand into one of the country’s top economies in one of its fastest growing regions, with some of the US’ best performing dealerships. Koons has an impressive history of achievement in sales, CSI and revenue across its 20 dealerships, and is legendary for its emphasis on people – employees and community – and for giving back. These are values that we at Asbury share, along with the disciplined work ethic that has enabled Koons to achieve so much success. We are proud to continue what Jim Koons and his exceptional management team expanded upon: an unwavering dedication to excellence in automotive retailing. We expect the Koons dealerships’ profitability to be generally in line with the profitability of Asbury’s dealerships,” David Hult, Asbury President and CEO.

Sources

Press Release

Asbury Automotive

Transaction Value

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Consideration Type

Cash

Capital Owned

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Capital bid for

100%

EV/Sales

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EV/EBITDA

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Share Price Premium

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Service Providers (6)Dealmakers
Kerrigan Advisors

financial advisors

Kerrigan Advisors

Holland & Knight

legal advisors

Holland & Knight

Baker Tilly

accounting advisors

Baker Tilly

Jones Day

legal advisors

Jones Day

Hill Ward Henderson

legal advisors

Hill Ward Henderson

Forvis Capital Advisors

financial advisors

Forvis Capital Advisors

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