Transaction Overview and Strategic Advisory Role of The Presidio Group LLC
The Presidio Group LLC, an independent merchant banking firm specializing in mergers and acquisitions, capital raising, and strategic investments within the automotive retail and consumer mobility sectors, served as exclusive advisor to Asbury Automotive Group in the sale of three Greenville, South Carolina dealerships to RBM of Atlanta, marking a significant portfolio optimization move for one of the nation’s leading publicly traded dealership groups. The transaction, which closed on February 23, included both the operating businesses and the associated real estate assets, underscoring the comprehensive nature of the deal and reflecting continued strength in dealership valuations, particularly within desirable regional markets and luxury brand segments. The stores involved in the transaction were Porsche of Greenville, Land Rover Greenville, and Crown Nissan of Greenville, while Asbury retained ownership of Toyota of Greenville along with its affiliated collision repair center, maintaining a continued presence in the Greenville market even as it recalibrates its broader retail footprint.
Asbury’s Disciplined Portfolio Management Strategy
For Asbury Automotive Group, the divestiture represents another deliberate step in a long-term portfolio management initiative designed to align its assets with evolving strategic priorities, capital allocation goals, and geographic optimization plans. Asbury President and Chief Executive Officer David Hult emphasized that the company continually evaluates where each dealership best fits within the organization’s national portfolio, balancing growth ambitions with operational efficiency and return on invested capital. He noted that while the sale of established stores is never undertaken lightly, the decision reflects a disciplined and thoughtful review process aimed at sharpening Asbury’s footprint and maximizing shareholder value. The company’s willingness to divest quality assets signals confidence in its broader growth roadmap and underscores a trend among major public dealer groups to concentrate resources in markets and brand combinations that deliver the strongest strategic alignment and long-term upside potential. Hult also highlighted the value brought by Presidio’s advisory team, pointing to the firm’s deep brand expertise and market insight as critical components in achieving optimal transaction value and execution certainty, reinforcing the ongoing advisory relationship between the two organizations.
Greenville Market Dynamics and Brand Strength
The Greenville, South Carolina automotive market has continued to demonstrate resilience and growth, benefiting from population expansion, economic diversification, and rising consumer demand for both luxury and mainstream automotive brands. The inclusion of Porsche and Land Rover franchises in the transaction reflects the premium appeal of the region, while the Nissan store adds a strong mass-market complement that broadens the brand mix under new ownership. Luxury dealerships in particular remain highly sought after nationwide, driven by favorable margins, affluent customer demographics, and limited availability of top-tier franchises entering the marketplace. The related real estate component of the transaction further enhances long-term investment value, offering operational control and real asset stability that many dealership operators view as a core strategic advantage. By retaining Toyota of Greenville and its collision center, Asbury maintains exposure to a high-volume import brand with strong customer loyalty while freeing capital and management focus for redeployment elsewhere within its expanding national network.
Strategic Expansion for RBM of Atlanta
For RBM of Atlanta, the acquisition represents a milestone moment, marking the company’s first geographic expansion beyond the metro-Atlanta area where it has built a respected reputation operating five dealerships representing Mercedes-Benz, Subaru, and Infiniti brands. The Greenville acquisition aligns closely with RBM’s long-term growth strategy by extending its operational reach into a proximate and economically vibrant market that complements its existing base while maintaining manageable logistical and cultural continuity. President David Ellis described the Greenville stores as an excellent strategic match, noting that their brand mix and market positioning dovetail naturally with RBM’s established strengths in customer service, operational excellence, and premium retail experience. He credited Presidio’s structured and professional transaction process for enabling a smooth and manageable expansion, particularly significant given the scale of the acquisition and its role as the company’s first major out-of-market investment.
Third-Generation Leadership and Long-Term Vision
The expansion also carries generational significance for RBM, as Ellis and his sister Casey Frames represent the third generation of family leadership guiding the dealership group. Their measured approach to growth reflects a long-term mindset centered on cultural alignment, brand conviction, and sustainable market entry rather than rapid or opportunistic expansion. Frames emphasized that patience played a defining role in identifying the right opportunity beyond Atlanta, with Greenville emerging as an ideal fit due to its demographic profile, proximity, and compatibility with RBM’s customer-focused philosophy. The addition of Porsche and Land Rover franchises introduces further luxury depth to RBM’s portfolio while Nissan broadens its mainstream footprint, collectively positioning the company for diversified revenue streams and balanced brand exposure. The move signals RBM’s transition into a broader regional player while maintaining the family-owned values and service orientation that have defined its reputation over decades of operation.
Continued Advisory Relationship and Transaction Momentum
The Greenville sale builds upon a longstanding advisory relationship between Presidio and Asbury, reinforcing the trust placed in Presidio’s investment banking platform to guide complex strategic decisions. Managing Director Alex Watterson noted that the transaction exemplifies disciplined portfolio management within a growing public dealership group and reflects a broader industry pattern in which operators reassess capital deployment across markets and brands. By enabling sellers to refine focus while creating compelling growth pathways for capable buyers, transactions of this nature serve dual strategic purposes within the evolving dealership landscape. The Greenville deal marks the second transaction in 2026 in which Presidio advised Asbury, following the sale of six St. Louis dealerships earlier in the year, and continues a multi-year sequence of advisory engagements that included divestitures of two Toyota stores in 2025 and a Lexus store in 2024, underscoring sustained transaction activity and strategic realignment initiatives.
Industry Trends and Luxury Dealership Demand
According to Presidio President George Karolis, the transaction reflects broader industry supply-demand dynamics, particularly within the luxury dealership segment where the number of high-quality stores entering the market remains limited relative to the depth of qualified buyers seeking expansion opportunities. This imbalance continues to drive competitive interest and robust valuations, especially when desirable franchises become available in attractive growth markets. Karolis observed that respected operators like RBM entering the acquisition arena highlight the competitive environment shaping today’s dealership M&A landscape, with both family-owned groups and public retailers actively positioning themselves for strategic advantage. Presidio anticipates a strong cadence of transactions throughout 2026 as dealership groups pursue expansion, consolidation, streamlining, or geographic realignment strategies, supported by healthy buyer appetite and disciplined capital markets.
Legal Counsel and Transaction Execution
The transaction was supported by experienced legal counsel on both sides, ensuring comprehensive due diligence and seamless execution. Hill Ward & Henderson, P.A. provided outside legal counsel to Asbury, with attorneys including Daniel E. Johns, Kevin Sutton, and Jill K. Bell advising on corporate aspects, while shareholder Katherine Frazier handled real estate matters related to the included property assets. RBM received legal representation from Gregory Law LLC, with attorney Eric Gregory guiding the buyer through the acquisition process. Presidio delivered exclusive M&A advisory services through its wholly owned investment banking subsidiary, Presidio Merchant Partners LLC, ensuring transaction structure, valuation strategy, and negotiation alignment consistent with Asbury’s strategic objectives.
Outlook for 2026 Automotive Retail M&A Activity
The Greenville transaction highlights the continued evolution of the U.S. automotive retail landscape, where disciplined portfolio management, family-led expansion strategies, and strong luxury brand demand intersect to shape deal flow. Public dealership groups such as Asbury are increasingly focused on capital efficiency and strategic market alignment, while established regional operators like RBM seek carefully selected growth avenues that preserve cultural integrity and operational excellence. Presidio’s expectation of sustained transaction volume in 2026 reflects favorable industry fundamentals, including healthy consumer demand, limited supply of premium franchises, and continued access to acquisition financing for qualified buyers. As dealership groups navigate technological transformation, electrification trends, and shifting consumer mobility preferences, strategic M&A activity remains a central lever for growth and competitive positioning, and transactions such as the Greenville sale illustrate how sellers and buyers alike are leveraging disciplined execution to advance long-term objectives within a dynamic and opportunity-rich marketplace.
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