Murgado Automotive Group has broadened its reach in the luxury automotive market by acquiring Mercedes-Benz of Richmond. This strategic acquisition from Rod McGeorge also includes Mercedes-Benz of Midlothian, further solidifying Murgado’s presence in the greater Richmond, Virginia area. The move follows the recent sale of McGeorge Toyota and marks a significant shift in dealership ownership within the region. Haig Partners LLC served as the exclusive advisor for Rod McGeorge in both transactions.
For over six decades, the McGeorge family has been a cornerstone of the Richmond automotive scene. Their journey began with The David R. McGeorge Car Company, a used car dealership, before they acquired Mercedes-Benz of Richmond back in 1955. The family’s commitment to the area expanded with the addition of McGeorge Toyota in 1968, and later, Mercedes-Benz of Midlothian in 2003. Under Rod McGeorge’s leadership, the McGeorge dealerships grew to employ over 300 individuals, becoming a major contributor to the local economy.
Reflecting on the legacy, Rod McGeorge shared, “My grandfather initiated our venture into franchised auto retail with Mercedes-Benz of Richmond, driven by a vision for growth. My father continued this trajectory, and as I transition, I am filled with immense pride in our collective achievements over these years. I am eager to dedicate time to personal pursuits, enjoying the rewards of our hard work and dedication. It has been an extraordinary journey, and I am confident that Murgado Automotive Group will uphold the high standards of excellence we have established.”
Kevin Nill, Managing Director of Haig Partners, who advised McGeorge on the sale, commented on the desirability of the Mercedes-Benz franchise, stating, “Similar to Toyota, Mercedes-Benz is a highly sought-after franchise, and combined with the appeal of Richmond, VA, this opportunity attracted considerable interest from numerous leading buyers.”
Nill further emphasized the holistic approach to dealership transactions, “Advising clients and helping them realize the full value of their life’s work is a privilege. Selling automotive dealerships extends beyond mere financial figures. It involves nurturing strong buyer relationships and possessing a comprehensive understanding of the complex OEM requirements and approval processes.”
Mario Murgado, CEO of Murgado Automotive Group, expressed his enthusiasm for the acquisition, “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have consistently demonstrated exceptional performance in Central Virginia for many years. We extend our gratitude to the McGeorge family for collaborating with us on this acquisition and to Mercedes-Benz for entrusting our group to build upon the esteemed legacy of these dealerships and one of the world’s most recognized brands.” This acquisition signals an exciting new chapter for Mercedes-Benz of Richmond and its commitment to serving the Richmond community under new leadership.
