Murgado Automotive Group has broadened its presence in Virginia by acquiring Mercedes-Benz of Midlothian and Mercedes-Benz of Richmond. These dealerships, formerly owned by Rod McGeorge, are located in the thriving greater Richmond area. This acquisition follows the recent sale of McGeorge Toyota, marking a significant shift in the Richmond automotive landscape. Haig Partners LLC served as the exclusive sell-side advisor in both transactions.
For over six decades, the McGeorge family dealerships have been a cornerstone of the Richmond community. What began as The David R. McGeorge Car Company, a used car dealership, evolved to include Mercedes-Benz of Richmond in 1955. The family’s portfolio expanded further with the addition of McGeorge Toyota in 1968 and Mercedes-Benz of Midlothian in 2003. Under Rod McGeorge’s leadership, the McGeorge dealerships grew to employ over 300 individuals, becoming a significant employer and automotive leader in the region.
Rod McGeorge, reflecting on the legacy of his family’s business, stated, “My grandfather’s entry into the franchised auto retail business began with Mercedes-Benz of Richmond, fueled by a vision for growth. My father continued to build upon this foundation, and as I transition away, I am filled with immense pride in our collective accomplishments over these many years. I am eager to dedicate time to personal pursuits, enjoying the rewards of our hard work and commitment. It has been an extraordinary journey, and I am enthusiastic about Murgado Automotive Group carrying forward our tradition of excellence.”
Kevin Nill, Managing Director of Haig Partners and advisor to McGeorge, commented on the high demand for these dealerships, saying, “Mirroring the interest in Toyota, the Mercedes-Benz franchise is highly sought after. Coupled with the robust Richmond, VA market, we saw substantial interest from numerous prominent buyers.”
Nill further elaborated on the advisory role, “It is a privilege to guide clients in maximizing the value of their life’s work. The sale of automotive dealerships extends beyond mere financial transactions. It involves cultivating strong relationships with buyers and possessing a comprehensive understanding of the intricate requirements and approval processes set forth by OEMs.”
Mario Murgado, CEO of Murgado Automotive Group, expressed his enthusiasm for the acquisition: “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian Midlothian VA have consistently been top-performing dealerships in Central Virginia for many years. We extend our gratitude to the McGeorge family for this opportunity 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 luxury brands.”
This acquisition signals an exciting new chapter for Mercedes-Benz of Midlothian Midlothian VA, promising to uphold the high standards of customer service and automotive excellence that both the McGeorge family and Murgado Automotive Group are known for. Customers in the Midlothian and Richmond areas can look forward to continued exceptional service and a wide selection of luxury vehicles under the new ownership.
