Speedy-increasing Umansky Automotive Group of Memphis, Tenn., has entered California with the acquisition of 5 dealerships representing 6 brands in the San Francisco Bay place.
Umansky Automotive purchased Porsche Livermore, Jaguar-Land Rover Livermore, Audi Livermore, Livermore Honda and Livermore Subaru, all in Livermore, Calif., on Wednesday from Qvale Automotive Group. Livermore is southeast of San Francisco.
“This strategic acquisition of sturdy brands and significant quantity is the great way for us to enter the California market,” Dan Umansky, owner of Umansky Automotive Group, mentioned in a assertion.
Umansky Automotive was established in 2013 with just one dealership, Acura of Memphis. The team rapidly expanded to Mississippi, Tennessee, Wisconsin and Virginia. It now has one,three hundred staff at twenty five areas.
Its merchants also characterize the Alfa Romeo, BMW, Maserati, Mercedes-Benz, Lincoln, Chrysler, Dodge, Jeep, Ram, Toyota, Volkswagen, Hyundai and Genesis brands.
“We mature our expertise from within just,” Umansky informed Automotive News. “We have a whole lot of people on our bench. We are surely in the expansion manner.”
The team has lengthy sought dealerships in California, Umansky mentioned. The condition remains a put of fascination for acquisitions, he mentioned, while noting that Umansky Automotive will glimpse wherever in the place for expansion.
“We are on the lookout for premier brands, just kind of like this acquisition,” Umansky mentioned.
Even though Umansky Automotive has just entered California, Qvale Automotive has exited the Golden Point out.
“This transaction, while bittersweet, marks the sale of our family’s remaining dealerships in California as we consolidate and target our efforts on our Florida dealerships,” mentioned Bruce Qvale, president of Qvale Automotive, in a assertion.
In March, Qvale Automotive sold Jaguar-Land Rover Stevens Creek in San Jose, Calif., to US Car Believe in, a personal dealership team owned by Edward Glazer of the NFL’s Tampa Bay Buccaneers. Past yr, Qvale sold a few California dealerships to Swickard Car Group.
Qvale now has four dealerships in Florida: Audi Coral Springs, Audi Fort Lauderdale, Audi Lakeland and Volkswagen Brandon.
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