Presidio Group advises on sale of Terry Lee Hyundai and Genesis of Noblesville to Penske Automotive Group

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The Presidio Group LLC (“Presidio”), an independent merchant bank focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility industries, advised exclusively Terry Lee in connection with the sale of Terry Lee Hyundai and Genesis of Noblesville to Penske Automotive Group (NYSE:PAG).

“It’s bittersweet to leave an industry I’ve worked in all my life, but I know that Penske Automotive will continue to serve the community and customers with the same high standards that my team and I have strived for.” , said Terry Lee, President of Terry Lee. Hyundai and Genesis of Noblesville. “I’m particularly proud of the dealerships’ innovative design, which allows them to leverage synergies while maintaining distinct brand identities.”

He added: “I again turned to the accomplished professionals at Presidio Group to manage this transaction as they understood my priorities. I knew they would find the best buyer and the whole process would be timely and confidential.

Commenting on the acquisition, President and CEO Roger Penske said, “We are excited to add the Hyundai and Genesis brands to our existing Honda and Chevrolet presence in the Indianapolis metro market and to welcome their employees in our team. We seek to build on the strong heritage of these dealerships while creating additional scale in this important market for Penske Automotive Group. »

“The world of automotive retail is changing as dealerships exit the industry. Knowing how franchises fit into potential buyers’ strategic growth plans is critical to providing our customers with the best possible outcome. “Said Brodie Cobb, Founder and CEO of The Presidio Group. “We were honored to help Terry Lee achieve his financial and personal goals by bringing him together with Penske Automotive Group.”

“Dealership demand continues to be strong, particularly for the Hyundai and Genesis franchises,” said George Karolis, President of Presidio Group. “We had the privilege of working again with Terry Lee and the Penske Group on this transaction. Dealer M&A transactions continue at their record pace and we expect increased activity in 2022.

In 2014, Terry Lee launched Terry Lee Crossing, a 72-acre commercial real estate development on Highway 37, just ten minutes north of Indianapolis in Noblesville. In 2015, he built new dealerships for the Genesis and Hyundai franchises with room for five other manufacturers or other commercial properties, creating the commercial area known as Terry Lee Crossing. The dealerships have won numerous accolades, including CarGuru’s Top Dealer Rating 2020 award, the 2020 Automotive News Best Dealership to Work For award, and the 2020 IndyStar Top Workplaces award.

Geoffrey M. Grodner and Dustin L. Plummer of Mallor Grodner LLP acted as legal advisors to Terry Lee. Penske Automotive Group was advised by its in-house counsel.

The Presidio Group provided proprietary M&A advisory services to Terry Lee through its wholly owned investment bank, Presidio Merchant Partners LLC.

About Terry Lee:

Terry Lee’s story in the automotive industry began when he was 21 years old. His first job opportunity came with a large group of dealerships in Indianapolis, where he started as CFO and rose through the ranks in various management positions. In 1995 he opened Terry Lee Chevrolet in Cincinnati, Ohio, building a highly successful franchise which he sold in 2008 to make way for another exciting business opportunity. Never forgetting his favorite song, “Back Home Again in Indiana”, he returned to the Indianapolis area to prepare for Terry Lee Honda’s opening in Avon. Spring 2015 saw the opening of Terry Lee Hyundai-Genesis in Noblesville.

About Penske Automotive Group:

Penske Automotive Group, Inc., (NYSE:PAG), headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world’s leading automotive and commercial truck retailers. PAG operates dealerships primarily in the United States, United Kingdom, Germany, Italy and Japan and is the largest commercial truck retailer in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gasoline engines, fuel systems and related parts and services, primarily in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a company that manages a fleet of more than 373,000 vehicles providing innovative transportation, supply chain and technology solutions to North American fleets. PAG is a member of the Fortune 500, Russell 1000 and Russell 3000 indexes and is ranked among the world’s most admired companies by Fortune magazine. For more information, visit the company’s website at www.penskeautomotive.com.

The Presidio Group LLC was founded in 1998 with the simple mission of relentlessly putting the interests of our clients first. By firmly adhering to this philosophy, the company has earned the trust of customers across the United States. Over their careers, Presidio professionals have collectively completed over 210 transactions for over $14 billion. He also publishes Presidio’s Where the rubber meets the road, a leading source of information on the automotive retail landscape and the M&A environment in automotive retail. The Presidio Group is based in Denver and Atlanta. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information about Presidio, visit www.thepresidiogroup.com.

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