The automotive landscape in Central Virginia is undergoing an exciting shift as Murgado Automotive Group proudly announces its acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian. These esteemed dealerships, formerly under the ownership of Rod McGeorge, mark a significant expansion for Murgado Automotive Group and reinforce its commitment to delivering exceptional automotive experiences. This acquisition follows the recent sale of McGeorge Toyota, signaling a notable transition in the Richmond automotive market. Haig Partners LLC played a crucial role as the exclusive sell-side advisor in this significant transaction.
The McGeorge family’s legacy in the Richmond area’s automotive sector spans over six decades, beginning with The David R. McGeorge Car Company, a used car dealership. Their journey with the Mercedes-Benz brand commenced in 1955 with the acquisition of Mercedes-Benz of Richmond. The family’s portfolio expanded in 1968 with the addition of McGeorge Toyota, recently acquired by Graham Ourisman Automotive, and further solidified their presence with Mercedes-Benz of Midlothian in 2003. Under Rod McGeorge’s guidance, the McGeorge dealerships grew to employ over 300 individuals, becoming a cornerstone of the local business community.
Rod McGeorge, reflecting on the transition, shared, “My grandfather initiated our family’s involvement in franchised auto retail with Mercedes-Benz of Richmond, driven by a vision for growth. My father continued to build upon this foundation, and as I transition to a new chapter, I am filled with immense pride in our collective accomplishments over the years. I am eager to dedicate time to personal pursuits and am confident that Murgado Automotive Group will uphold the tradition of excellence we have cultivated.”
Kevin Nill, Managing Director at Haig Partners and advisor to McGeorge, highlighted the desirability of the Mercedes-Benz franchise and the Richmond, Virginia market. “Mercedes-Benz, much like Toyota, represents a highly sought-after franchise, and when combined with the appeal of the Richmond, VA, region, we witnessed considerable interest from numerous leading automotive groups.”
Nill further emphasized the advisory role’s significance, stating, “Advising clients in maximizing the value of their life’s work is a privilege. Transactions involving automotive dealerships extend beyond mere financial figures. They encompass nurturing robust buyer relationships and possessing comprehensive knowledge of the complex OEM requirements and approval procedures.”
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 this opportunity and to Mercedes-Benz for entrusting us to build upon the dealerships’ legacy and represent one of the world’s most prestigious brands.” This acquisition signals a promising future for Mercedes-Benz in Midlothian, Virginia, as Murgado Automotive Group looks to continue the tradition of outstanding service and customer satisfaction established by the McGeorge family.
