M&A Deal Summary

Asbury Acquires Park Place Motorcars

On December 12, 2019, Asbury acquired automotive company Park Place Motorcars for 1.0B USD

Acquisition Highlights
  • This is Asbury’s 1st transaction in the Automotive sector.
  • This is Asbury’s largest (disclosed) transaction.
  • This is Asbury’s 2nd transaction in the United States.
  • This is Asbury’s 1st transaction in Utah.

M&A Deal Summary
Date 2019-12-12
Target Park Place Motorcars
Sector Automotive
Buyer(s) Asbury
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) The Presidio Group (Financial)
Locke Lord (Legal)

Target

Park Place Motorcars

Irving, Utah, United States
Park Place Motorcars Ltd. is a luxury car dealership group focused on providing luxury automobiles, parts, accessories and services in the Dallas/Fort Worth area, and throughout North Texas. In addition to Jaguar, Bentley, Porsche, Maserati, Bugatti, Rolls-Royce, Volvo and smart, the company also has three Mercedes-Benz locations in Dallas, Fort Worth and Grapevine, and two Lexus dealerships in Plano and Grapevine, serving those communities, as well as Southlake, Arlington, Colleyville, Coppell, Frisco, Irving, Lewisville among others in the Metroplex. Park Place was formed in 1987 and is based in Irving, Utah.

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Buyer(S) 1

Buyer

Asbury

Duluth, Georgia, United States
Category Company
Founded 1996
Sector Automotive
Employees15,000
Revenue 14.8B USD (2023)
DESCRIPTION

Asbury is a large automotive retailer serving the US market. Asbury owns and operates new vehicle franchises, representing a variety of brands of automobiles at dealership locations and collision centers across the US. In addition, Asbury owns and operates stand-alone used vehicle stores under the Q auto brand name in Florida. Asbury's stores offer an extensive range of automotive products and services, including new vehicles, used vehicles, parts and services, and finance and insurance. ASBURY was incorporated in 1996 and is based in Duluth, Georgia.

DEAL STATS #
Overall 2 of 4
Sector (Automotive) 1 of 3
Type (Add-on Acquisition) 2 of 4
State (Utah) 1 of 1
Country (United States) 2 of 4
Year (2019) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 Mike Shaw Subaru

Denver, Colorado, United States

Mike Shaw Subaru is a Subaru new and used car automotive dealership serving the Denver metro region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Stevinson Automotive

Lakewood, Colorado, United States

Stevinson Automotive is an automotive retail and service company. Stevinson Automotive is based in Lakewood, Colorado.

Buy -
Mergr

Product

Company

Legal