Car Pros Automotive Group Expands with Luxury Dealership Acquisition
Car Pros Automotive Group Expands with Luxury Dealership Acquisition
Washington state’s Car Pros Automotive Group recently acquired its first luxury dealership by purchasing two Los Angeles stores on August 21.
The group, led by CEO Matthew Phillips, bought Nick Alexander BMW and Nick Alexander Mini from the Alexander family.
“We’ve always wanted the opportunity to expand into the luxury market, particularly with a Tier 1 luxury brand like BMW,” said Phillips in an interview with Automotive News. “However, we didn’t want to enter the luxury segment solely for the sake of luxury.”
The acquired dealerships have been rebranded as BMW of Downtown Los Angeles and Mini of Downtown Los Angeles. Car Pros also added Mini as a new brand to their portfolio. Additionally, the acquisition included a large collision center, marking the group’s first venture into that area.
Strategic Growth and Expansion
This is not the first dealership acquisition for Car Pros Automotive Group. In November 2019, they purchased a Honda store in Southern California as part of their growth strategy.
“We wanted to be very strategic with our next acquisition,” explained Phillips. “We carefully evaluated numerous deals and considered factors such as the OEM, location, and store size. All of our dealerships are high-volume operations, and that’s where our expertise lies. We sought a dealership that was already high-volume or had the potential to become one.”
Car Pros also recently sold a Volkswagen dealership in Southern California. The Alexander family’s transaction in Los Angeles was facilitated by Kerrigan Advisors, a sell-side firm based in Incline Village, Nevada.
Based in Renton, Washington, Car Pros Automotive Group ranks 45th on Automotive News’ list of the top 150 dealership groups in the United States. In 2022, the group retailed 17,936 new vehicles.
