HAIG PARTNERS SERVES AS EXCLUSIVE ADVISOR ON THE SALE OF FOREST LAKE AUTO GROUP TO MORRIE'S AUTO GROUP

14 July 2022

Haig Partners LLC, the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to Minneapolis based Forest Lake Auto Group in its sale to Morrie's Auto Group. Forest Lake Auto Group consists of Forest Lake Chevrolet and Forest Lake Chrysler-Dodge-Jeep-RAM of Forest Lake, MN, outside Minneapolis.

Randy Wilcox, the owner of Forest Lake Auto Group, stated, "It's been my pleasure to work with a great staff at these two stores to serve many thousands of customers in the greater Minneapolis area. We built a terrific business and I expect Morrie's will provide even more opportunities for our people and our customers. I wish them all much success for the future. I'd like to thank Alan Haig and Nate Klebacha from Haig Partners for running a confidential sale process that brought me the outcome that I wanted. Also, I'd like to thank Chris Penwell and Scott Weaver at Siegel Brill for their astute legal advice to help get this transaction closed."

Mr. Wilcox has been a successful entrepreneur for over 40 years. Prior to investing in auto dealerships, he built BIX Produce into a leading specialty produce processing and distribution company serving the Upper Midwest. It was acquired by Northwest Equity Partners in 2015.

Morrie's Auto Group is one of the largest dealership groups in the upper Midwest. Including this transaction, Morrie's has acquired 14 additional locations since 2016 through seven transactions. They now represent 22 brands across Minnesota, Wisconsin, and Michigan. "We are excited to add these dealerships to the Morrie's platform and expand our presence in Minnesota," said Lance Iserman, CEO of Morrie's. "This acquisition will strengthen our offering across the Midwest as we continue to grow and acquire additional stores. The Forest Lake dealerships share a similar strategy and community approach to that of Morrie's, with a customer friendly, best-price sales process and a focus on customer experience. We look forward to working with the existing team to drive benefits for our collective customers, employees and brand partners."

Alan Haig, President of Haig Partners which represented the seller, said, "We congratulate Randy Wilcox on the sale of his dealerships to Morrie's. He grew his stores into two of the highest-performing domestic dealerships in the upper Midwest. Also, we applaud the Morrie's team with this acquisition that adds further strength to their position in Minneapolis. This transaction demonstrates that buyers remain confident about the future of auto retail and want to continue to grow."

The team at Haig Partners has been involved in the purchase or sale of 12 dealerships in Minnesota in recent years. Haig Partners has advised on the sale of 29 dealerships nationwide so far in 2022.

About Haig Partners
Haig Partners LLC helps dealers to maximize the value of their businesses when they are ready to sell. The team at Haig Partners has unmatched experience with executives from leading retail dealer groups and financial institutions. They have advised on the purchase or sale of more than 575 dealerships for over $9.0 billion, and have represented 22 groups that qualify for the annual Automotive News Top 150 Dealer Groups list, more than any other firm. Haig Partners leverages its expertise and relationships to lead clients through a confidential and customizable sales process that also maximizes the value of their businesses. They author the Haig Report, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and are co-author of NADA's Guide, "Buying and Selling a Dealership." For more information, visit www.haigpartners.com.

Transaction Contact:
Alan Haig, Founder and President
Haig Partners
[email protected]
(954) 646-8921

Media Contact:
Aimee Allen, Director of Marketing and Business Development
Haig Partners
[email protected]
(603) 933-2194

 

Source:prnewswire.com