Murgado Automotive Group has broadened its footprint in Virginia by acquiring Mercedes-Benz of Midlothian and Mercedes-Benz of Richmond. This strategic acquisition from Rod McGeorge marks a significant expansion for Murgado and adds two well-established dealerships to their portfolio, including the highly regarded Mercedes-Benz of Midlothian. The sale follows the recent transaction of McGeorge Toyota, signaling a major shift in the Richmond automotive landscape. Haig Partners LLC acted as the exclusive advisor to the seller in both transactions.
The McGeorge family’s legacy in the Richmond automotive market spans over six decades, beginning with The David R. McGeorge Car Company, a used car dealership. Their foray into luxury vehicles began in 1955 with the acquisition of Mercedes-Benz of Richmond. The family further expanded their holdings with McGeorge Toyota in 1968, and in 2003, were awarded Mercedes-Benz of Midlothian. Under Rod McGeorge’s leadership, the McGeorge dealerships grew to employ over 300 individuals, becoming a cornerstone of the local business community.
Reflecting on the transition, Rod McGeorge expressed pride in the family’s accomplishments. “My grandfather’s vision started with Mercedes-Benz of Richmond, and it grew through generations,” he stated. “As I step away, I am incredibly proud of what we have built and am eager to enjoy the rewards of our hard work. I am confident that Murgado Automotive Group will continue the tradition of excellence at Mercedes-Benz of Midlothian and Richmond.”
Kevin Nill, Managing Director of Haig Partners, highlighted the strong market interest in the acquisition. “Mercedes-Benz franchises, especially in attractive markets like Richmond, VA, are highly sought after,” Nill commented. “The opportunity to acquire both Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian generated significant interest from leading dealership groups.” He further emphasized the importance of understanding OEM requirements and fostering strong relationships in facilitating successful dealership transactions.
Mario Murgado, CEO of Murgado Automotive Group, conveyed his enthusiasm for the acquisition. “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian are recognized for their outstanding performance in Central Virginia,” Murgado stated. “We are grateful to the McGeorge family for this opportunity and to Mercedes-Benz for entrusting us to build upon the strong foundation of these dealerships and represent one of the world’s most prestigious brands.” Murgado’s statement underscores his commitment to maintaining the high standards and customer service that customers have come to expect from Mercedes-Benz of Midlothian and Richmond.
