4 dealerships change hands in South Carolina, Florida, Indiana and Virginia

Indiana Bentley dealership sold

The owners of a rare, boutique Bentley dealership in Indiana sold their British ultraluxury brand store in the fourth quarter.

Brothers Greg Albers and Mark Albers sold Bentley Zionsville to Yousef Barham on Oct. 1, according to Greg Albers. Zionsville is northwest of Indianapolis.

On Jan. 1, there were just 48 Bentley franchises in the U.S., according to Automotive News‘ annual dealership census.

Barham is the owner of Coast To Coast Imports, a high-end used-vehicle dealership that specializes in exotic and ultraluxury vehicles with two locations in suburban Indianapolis, according to its website.

The Bentley franchise moved to Indianapolis, and the store was renamed Bentley Indianapolis.

“We were able to sell … just the right to be the Bentley dealer basically, some parts and some equipment,” Greg Albers told Automotive News. “And in return, in our agreement, we were able to continue to service the older cars, older than 10 years old, [and] sell parts for them.”

He noted that the buyers had expressed interest in the Bentley franchise and “already had a facility that would meet the needs of Bentley as far as the size and everything.”

The two brothers now operate Albers Motorcars as an independent shop with a focus on parts and service for older Rolls-Royce and Bentley models, Greg Albers said.

The business was started in 1963 by their father, Hermann Albers, as a service and parts location for Rolls-Royce and Bentley vehicles. It later sold new vehicles of both ultraluxury brands until 2003, when it became Bentley-only for new-vehicle sales.

McMurray buys first franchised dealership

Jim Snead, dealer principal of Jim Snead Ford, on Jan. 26 sold his father’s former dealership in Waynesboro, Va., to first-time franchised dealership owner Matt McMurray.

The business, which includes an adjacent Quick Lane Tire & Auto Center building, is now called Campus Ford.

McMurray owns and operates Campus Automotive Inc., a used-vehicle sales and service dealership, and a Maaco body shop, both in Blacksburg, Va.

Jim Snead opted to exit the business for health reasons, said Hal Feder, managing partner of Murphy Business & Financial Corp. in Williamsburg, Va., who represented Snead in the sale. Frank O’Donnell of Biltmore Consultants in Hendersonville, N.C., represented McMurray.

All 34 employees were retained, Snead said.

Snead found McMurray’s service experience and business mindset attractive, he told Automotive News.

“I was trying to find somebody that would match up with my philosophy, where there would be a minimal amount of disruption to the other employees,” Snead said. “Most of my employees have been with me for 30 years. I felt like I owed it to them to select someone who would least disrupt their lives.”

Though consolidation remains rigorous in auto retail, Feder said the aging demographics of dealers is driving many of the transactions he has worked on lately.

“I used to help them grow, and now I help them exit,” Feder said.

https://www.autonews.com/dealers/4-dealerships-change-hands-south-carolina-florida-indiana-and-virginia