Pinnacle Mergers & Acquisitions, a nationwide auto dealership brokerage firm, has recently completed another successful transaction for Sonic Automotive. Enchanted Mazda, located in Santa Fe, New Mexico, was purchased by 2AutoGroup and now operates as Santa Fe Mazda.
Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States. The company was founded by Bruton Smith and completed its initial public offering on the NYSE in 1997. Sonic Automotive operates in 24 states with over 100 dealerships representing over 25 different brands of automobiles.
This isn’t the first time Pinnacle Mergers & Acquisitions and Bill Scrivner, founder and CEO, have worked with Sonic Automotive. Pinnacle’s long-standing relationship with Sonic Automotive has led to more than 50 transactions dating back to 1997, representing them both as buyers and sellers. A few of the more notable transactions include Mercedes Benz of Nashville, Tenn., Mercedes Benz of Walnut Creek, Calif., and W.I. Simonson Mercedes Benz in Santa Monica, Calif., Auto-Strauss Mercedes Benz and BMW in Ann Arbor, Mich., Williams Mercedes Benz, Porsche, and BMW in Lansing, Mich., Toyota of Fort Worth, Texas, Massey Cadillac in Dallas, Texas, Honda of Fort Myers, Fla., Park Place Audi in Dallas, Texas and Nevada Dodge in Las Vegas, Nev.
“Pinnacle’s understanding and knowledge of the Sonic brand, coupled with our three decades of industry experience, continues to help Sonic and other clients achieve their goals,” said Scrivner, CEO of Pinnacle Mergers & Acquisitions. Our team’s track record of closing over 750 transactions has put billions of dollars into our client’s pockets! That has made the Pinnacle team a standout in the automotive brokerage industry for the last thirty years.”
2AutoGroup, established in January 2018 with the acquisition of its inaugural store in Colorado, has steadily expanded to encompass six stores representing nine brands strategically located across the state of Colorado. This latest acquisition marks their first store outside of Colorado and into the vibrant automotive market of Santa Fe, New Mexico, a move eagerly anticipated by the entire team.
“We are delighted to embark on this exciting journey with the acquisition of Enchanted Mazda,” remarked Paul Tew, president of 2AutoGroup. “Santa Fe’s unique blend of culture and economic dynamism aligns seamlessly with our vision for expansion and growth.”
Jordan Peterson, co-owner of 2AutoGroup, echoed these sentiments: “We are eager to establish a strong presence in Santa Fe and contribute to the community’s automotive landscape. With Enchanted Mazda joining our esteemed portfolio, we look forward to delivering unparalleled service and enhancing the automotive experience for our valued customers.”
This was 2AutoGroup’s first transaction with Pinnacle, and they commented, “We are grateful for the assistance of Wes Hamilton and Pinnacle Mergers and Acquisitions for bringing us the opportunity and assisting us during the transaction process. Their expertise and guidance made for a smooth transaction. We look forward to acquiring more stores with Pinnacle and highly recommend them if you are considering buying or selling your store.”
With more than 60 years of combined experience as intermediaries on both the buy-side and sell-side of transactions, Pinnacle conducts business with the same commitment to integrity and customer success that has guided them for the last three decades. Continuing to utilize their unparalleled industry knowledge to serve as intermediaries for their clients, Pinnacle always looks forward to helping their clients achieve their goals as buyers or sellers.
To learn more about the services offered by Pinnacle Mergers & Acquisitions or to receive a confidential consultation, visit www.pinnaclemergers.com.
