Murgado Automotive Group has broadened its portfolio with the acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian. These dealerships, formerly owned by Rod McGeorge, are strategically located in the thriving greater Richmond, Virginia area. This acquisition follows the recent sale of McGeorge Toyota, marking a significant shift in the Richmond automotive landscape. Haig Partners LLC played a crucial role as the exclusive sell-side advisor in this transaction, facilitating a smooth transition.
The McGeorge family’s legacy in the Richmond automotive market spans over six decades. Their journey began with The David R. McGeorge Car Company, a used car dealership, before they acquired Mercedes-Benz of Richmond in 1955. The family further expanded their footprint with McGeorge Toyota in 1968, and in 2003, they were awarded Mercedes-Benz of Midlothian, solidifying their commitment to the luxury automotive sector and to serving customers in Midlothian and the wider region. Under Rod McGeorge’s leadership, the McGeorge dealerships grew to employ over 300 individuals, becoming a cornerstone of the local economy.
Reflecting on this transition, Rod McGeorge, the former owner, shared, “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 now step away, I am filled with immense pride in our collective achievements over these many years. I am eager to dedicate time to personal pursuits, enjoying the rewards of our hard work and dedication. It has been an exceptional journey, and I am confident that Murgado Automotive Group will uphold the tradition of excellence we have established.”
Kevin Nill, Managing Director of Haig Partners and advisor to McGeorge, highlighted the desirability of the Mercedes-Benz franchise, stating, “Mercedes-Benz, particularly in a market as attractive as Richmond, VA, generates significant interest from leading dealership groups.” He further added, “Advising clients in these transactions is a privilege, enabling them to realize the full value of their life’s work. Selling automotive dealerships involves more than just financial aspects; it requires cultivating strong buyer relationships and possessing in-depth knowledge of 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 outstanding 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 distinguished legacy of these dealerships and one of the world’s most recognized brands.” This acquisition signals Murgado Automotive Group’s commitment to expanding its presence in the luxury car market and providing exceptional service to Mercedes-Benz customers, including those seeking a premier Midlothian Mercedes-Benz dealer.
