Hacman Financial Advises Matt Bowers Automotive Group on Strategic Indiana Expansion with Brownsburg CDJR Acquisition
Hacman Financial, a leading automotive advisory firm specializing in dealership mergers and acquisitions, has served as the exclusive buy-side advisor to the Matt Bowers Automotive Group in its acquisition of Bill Estes Chrysler Dodge Jeep Ram in Brownsburg, Indiana. The dealership was acquired from Asbury Automotive Group , one of the largest publicly traded automotive retailers in the United States. The transaction officially closed on February 2, 2026, marking a significant milestone for all parties involved.
Following the completion of the acquisition, the dealership will operate under the name Indy Chrysler Dodge Jeep Ram, signaling a new chapter for the location while maintaining continuity within the Stellantis brand network. For the Matt Bowers Automotive Group, the deal represents a strategic entry into the Indianapolis metropolitan statistical area (MSA), the company’s first dealership in Indiana, and its third Chrysler Dodge Jeep Ram franchise overall. With this acquisition, the group now operates dealerships across five states, further strengthening its regional footprint and long-term growth strategy.
A Strategic Expansion into the Midwest
The acquisition underscores the Matt Bowers Automotive Group’s disciplined approach to expansion, prioritizing strong markets, high-performing brands, and scalable operations. The Indianapolis MSA represents one of the Midwest’s most attractive automotive markets, supported by population growth, economic diversification, and sustained demand for full-line domestic brands—particularly within the Chrysler, Dodge, Jeep, and Ram portfolio.
By adding Indy Chrysler Dodge Jeep Ram to its network, the Matt Bowers Automotive Group gains immediate access to a well-established customer base, a prime retail location, and a franchise aligned with its operational strengths. The Stellantis brand mix, known for its breadth across trucks, SUVs, and performance-oriented vehicles, continues to play a central role in the group’s expansion strategy.
“This transaction allows us to enter a highly desirable market while adding another Stellantis dealership to our portfolio,” said Matt Bowers, Owner of the Matt Bowers Automotive Group. “With the completion of this acquisition, our organization is proud to establish a presence in the Indianapolis MSA and continue building a geographically diverse platform.”
Hacman Financial’s Role in the Transaction
Hacman Financial acted as the exclusive buy-side advisor, guiding the Matt Bowers Automotive Group through every phase of the transaction—from initial market evaluation and target identification to valuation analysis, negotiations, and closing execution. Known for its deep expertise in dealership M&A and its hands-on advisory approach, Hacman Financial played a critical role in aligning strategic objectives with transaction execution.
“I am always grateful when a client chooses us to assist with their portfolio growth initiatives,” said David Hacman, President of Hacman Financial. “Matt is one of the most operationally driven and highly disciplined dealer principals I have represented. It was an honor to work with him and assist in the successful completion of this transaction.”
Hacman Financial’s involvement reflects its ongoing focus on representing growth-oriented dealer groups seeking disciplined, value-driven acquisitions in competitive markets. The firm’s ability to navigate complex transactions involving public automotive retailers further highlights its position as a trusted advisor within the industry.
Transition from Asbury Automotive Group
For Asbury Automotive Group, the transaction represents a strategic divestiture aligned with its broader portfolio management objectives. Asbury, a Fortune 500 company with a nationwide dealership network, continues to refine its footprint by reallocating capital toward priority markets, growth initiatives, and operational optimization.
The Brownsburg CDJR dealership, which operated as Bill Estes Chrysler Dodge Jeep Ram under Asbury’s ownership, had established a strong reputation in the local market, supported by experienced leadership and a loyal customer base.
“It was a pleasure working with Matt and his team,” said Dan Clara, Chief Operating Officer of Asbury Automotive Group. “I am tremendously proud of the business and reputation we built at Bill Estes CDJR. I also appreciated the opportunity to work again with David Hacman. I congratulate Matt and the entire Bowers organization, and I look forward to seeing the continued growth of the Chrysler Dodge Jeep Ram brand.”
Clara’s comments reflect the collaborative nature of the transaction, emphasizing continuity, professionalism, and mutual respect between buyer and seller—an increasingly important dynamic in large-scale dealership M&A.
Strengthening a Multi-State Platform
With the addition of Indy Chrysler Dodge Jeep Ram, the Matt Bowers Automotive Group now operates dealerships across five states, reinforcing its position as a growing regional automotive retailer. The acquisition aligns with the group’s long-term strategy of building a balanced portfolio that spans multiple geographies while maintaining operational consistency and brand excellence.
The group’s expansion into Indiana also provides strategic diversification, reducing market concentration risk and opening new opportunities for shared services, talent development, and best-practice implementation across locations.
Industry observers note that disciplined expansion into stable, mid-sized metropolitan markets—such as Indianapolis—has become a defining strategy for high-performing dealer groups. These markets offer attractive demographics, manageable competition, and strong demand across new and used vehicle segments.
Legal and Transaction Advisory Support
The transaction was supported by experienced legal counsel on both sides, ensuring a smooth and efficient closing process.
Jeremy Hebert of Becker & Hebert, LLC served as legal counsel to the Matt Bowers Automotive Group, advising on transaction structure, regulatory matters, and closing documentation.
Asbury Automotive Group was represented by Daniel Johns, Kevin Sutton, Jill Bell, and Katherine Frazier of Hill Ward Henderson, a firm with extensive experience advising public automotive retailers on complex dealership transactions.
The involvement of seasoned legal teams further contributed to the successful execution of the deal, reflecting the increasing sophistication and scale of dealership M&A activity in today’s automotive retail landscape.
A Broader View of Dealership M&A Trends
This transaction comes amid continued consolidation across the U.S. automotive retail industry, driven by factors such as succession planning, capital requirements, technology investments, and evolving OEM expectations. Dealer groups with strong balance sheets and disciplined growth strategies—like the Matt Bowers Automotive Group—are increasingly well positioned to capitalize on acquisition opportunities.
At the same time, advisory firms such as Hacman Financial play a crucial role in facilitating these transactions, offering specialized market insight, valuation expertise, and negotiation support that help buyers and sellers achieve mutually beneficial outcomes.
As dealership transactions grow more complex—often involving public companies, multi-store platforms, and brand-specific considerations—the importance of experienced M&A advisors continues to rise.
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