Presidio Group Advises Asbury Automotive on Kia of Owings Mills Sale to Stivers
The Presidio Group LLC, an independent merchant banking firm specializing in mergers and acquisitions, capital raising and investments across automotive retail and consumer mobility, has exclusively advised Asbury Automotive Group Inc. on the sale of Kia of Owings Mills and its related real estate to Stivers Automotive Group. The dealership is located in Owings Mills, Maryland, and the transaction officially closed on October 19, 2026.
The transaction represents another step in Asbury Automotive Group’s ongoing portfolio management strategy. The company regularly evaluates its dealership operations to determine where its resources can generate the greatest value for shareholders, employees and customers. Through this approach, Asbury aims to concentrate its investments on its core business operations and pursue expansion opportunities that align with its long-term objectives.
The sale also creates a new opportunity for Stivers Automotive Group, which gains its first Kia dealership and establishes a presence in the Mid-Atlantic region. For Stivers, the acquisition provides an established entry point into a new geographic market while expanding its brand portfolio beyond its traditional automotive franchises.
Presidio played a central role in advising Asbury throughout the transaction, helping identify a buyer whose operational experience, interest in the Kia brand and regional expansion plans aligned with the dealership’s business potential.
Asbury Automotive Continues to Optimize Its Dealership Portfolio
Asbury Automotive Group is a major automotive retail company that operates dealerships and related automotive businesses. Its portfolio management strategy involves assessing individual dealerships and determining how each operation contributes to the company’s broader financial and operational goals.
The sale of Kia of Owings Mills reflects this ongoing evaluation process. While dealerships can provide revenue and support relationships with manufacturers and customers, automotive retail groups must continually assess their investments, market positions and opportunities for future growth.
By divesting selected dealerships, companies such as Asbury can redirect resources toward operations and markets that better support their strategic priorities. Such decisions may involve reviewing individual dealership performance, market conditions, brand representation and the potential to generate long-term shareholder value.
Daniel Clara, president and chief executive officer of Asbury Automotive Group, said the transaction was consistent with the company’s long-term value creation strategy.
According to Clara, Asbury continually evaluates its portfolio to ensure that investments are directed toward areas where the company can best serve shareholders, team members and guests. He also emphasized that decisions to sell dealerships are made carefully rather than as routine business changes.
Clara expressed appreciation for Presidio’s assistance in identifying an appropriate buyer for Kia of Owings Mills. He also conveyed confidence that Stivers Automotive Group would provide strong leadership for the dealership and its employees under the new ownership.
The transition allows Asbury to continue refining its dealership portfolio while giving the Owings Mills operation an opportunity to develop under a buyer seeking to expand its geographic presence and manufacturer relationships.
Stivers Automotive Group Expands Into the Kia Brand
For Stivers Automotive Group, the acquisition marks an important development in its expansion strategy. Kia of Owings Mills becomes the group’s first dealership representing the Kia brand, broadening its selection of automotive franchises and creating a new position in the Mid-Atlantic market.
Automotive dealership groups often pursue acquisitions to diversify their brand portfolios, increase their geographic reach and establish relationships with additional vehicle manufacturers. Adding a new franchise can provide access to different customer segments, vehicle categories and sales opportunities.
Kia has developed a broad product lineup that includes passenger cars, sport utility vehicles and electrified models. Its growing presence in the automotive marketplace makes the brand an attractive option for dealership operators seeking opportunities beyond their existing franchises.
Eddie Stivers, vice president of Stivers Automotive Group, highlighted Kia’s product portfolio and its continued appeal among consumers when discussing the acquisition.
He explained that the dealership provides an established foothold in a new market as Stivers expands beyond its traditional brands and geographic territory. Rather than entering the region without an existing retail operation, the group can build on the foundation already established by Kia of Owings Mills.
Stivers also thanked Asbury and Presidio for their confidence in the organization. He praised Presidio’s professionalism and expertise in managing the transaction, noting the advisory firm’s role in facilitating the dealership sale.
The acquisition creates a platform for Stivers to develop its presence in the Mid-Atlantic region and explore additional opportunities associated with the Kia brand. Its long-term performance will depend on factors such as local demand, dealership operations, customer relationships and the company’s ability to integrate the business into its existing organization.
Owings Mills Dealership Provides an Entry Into a New Market
The location of Kia of Owings Mills is an important element of the transaction. Owings Mills, situated in Maryland, provides Stivers with an entry into the Mid-Atlantic automotive retail market.
For a dealership group expanding into a new region, acquiring an established store can offer advantages compared with building a new dealership from the ground up. An existing operation may already have customer relationships, a local market presence, employees familiar with the business and an established connection with its manufacturer.
The acquisition of Kia of Owings Mills gives Stivers a foundation on which to build its regional operations. It also allows the company to extend its business into a different market while adding a manufacturer that was not previously represented in its portfolio.
The inclusion of the related real estate is another important aspect of the transaction. Dealership acquisitions frequently involve both operating businesses and property assets, making real estate considerations an essential part of the transaction structure.
Ownership or control of dealership property can influence the long-term operating arrangement, financial planning and flexibility available to a buyer. In this case, the sale covered both Kia of Owings Mills and its related real estate, with legal advisers supporting the parties on their respective business and property matters.
Although the acquisition establishes a new position for Stivers, the transaction also reflects the continuing movement of dealership assets among established automotive retail groups. These transactions help companies adjust their market exposure, respond to changing strategic priorities and pursue opportunities that better fit their operating models.
Presidio Group Supports Automotive Retail M&A Activity
Presidio served as Asbury Automotive Group’s exclusive mergers and acquisitions adviser for the transaction through its wholly owned investment banking subsidiary, Presidio Merchant Partners LLC.
The firm focuses on mergers and acquisitions, capital raising and investments in automotive retail and consumer mobility. Its industry specialization allows it to advise dealership groups and other automotive businesses on transactions involving ownership changes, portfolio adjustments and strategic expansion.
In dealership sales, an M&A adviser can assist with evaluating the opportunity, identifying potential buyers, coordinating transaction discussions and helping guide the process toward closing. A suitable buyer must offer more than an interest in purchasing the business. Its operating capabilities, brand strategy, market objectives and ability to manage the dealership can also influence whether the transaction is a strong fit.
Alex Watterson, managing director at The Presidio Group, said the firm was pleased to help Asbury complete another transaction supporting its portfolio management objectives.
Watterson identified Stivers’ operating history, support for the Kia brand and interest in entering a new region as factors that made the group an appropriate buyer for Kia of Owings Mills.
These considerations demonstrate the importance of aligning the seller’s objectives with the buyer’s strategic plans. For Asbury, the priority was to find a buyer capable of taking over the dealership while supporting the company’s decision to concentrate resources on its core business. For Stivers, the opportunity offered a new franchise and a path into an additional geographic market.
Presidio’s advisory role connected these objectives and supported the transaction through completion.
Presidio Advises Asbury on Multiple 2026 Divestitures
The Kia of Owings Mills transaction is part of a broader series of dealership divestitures involving Asbury Automotive Group and Presidio during 2026.
With this latest deal, Presidio reported that it had advised Asbury on the sale of 10 dealerships and one collision center across three markets during the year.
The transactions illustrate the ongoing portfolio management activity taking place within the automotive retail industry. Large dealership groups periodically review their operations to determine whether particular assets remain aligned with their strategic plans. Depending on their priorities, these reviews can lead to acquisitions, sales, geographic realignment or changes in brand representation.
For companies operating numerous dealerships, portfolio management requires a balance between maintaining a broad retail network and directing capital toward the most attractive opportunities. Selling selected assets can help a group simplify its operations, adjust its geographic footprint or redirect management attention toward other businesses.
George Karolis, president of The Presidio Group, said the firm valued the continued confidence Asbury placed in its advisory services.
Karolis pointed to Presidio’s longstanding relationship with Dan Clara and the wider Asbury leadership team as an important advantage in understanding the company’s priorities. That familiarity, he explained, helps the advisory firm manage divestiture processes efficiently and enables Asbury’s leadership to remain focused on its core operations.
He added that Presidio seeks to maintain the relationship through thoughtful advice and disciplined transaction execution.
A longstanding advisory relationship can help reduce the time required to understand a client’s objectives, evaluate potential buyers and coordinate a transaction. However, each dealership sale still requires its own assessment of market conditions, buyer interest, financial considerations and legal requirements.
The latest transaction reinforces Presidio’s continuing involvement in Asbury’s portfolio decisions and highlights the role of specialized financial advisers in automotive retail M&A.
Legal Advisers Support the Transaction
Legal advisers represented both parties during the sale, including counsel for the related real estate transaction.
Asbury Automotive Group, as the seller, received legal representation from Daniel E. Johns, Kevin Sutton, S. Katherine Frazier and Jill K. Bell of Hill Ward Henderson.
Stivers Automotive Group, as the buyer, received legal representation from Rick McBride of McBride Law LLC. Rushton, Stakely, Johnston & Garrett, P.A., along with Bill Eskridge, provided counsel to the buyer on real estate matters.
The involvement of separate legal advisers reflects the different requirements associated with transferring a dealership business and its property assets. Business sale documentation, transaction terms, ownership transfers and real estate arrangements may each require specialized legal review.
Coordinating these matters helps the parties address their respective responsibilities and complete the transaction in accordance with the agreed terms.
Presidio Merchant Partners LLC provided the exclusive M&A advisory services to Asbury Automotive Group, while the legal advisers handled their respective business and real estate responsibilities.
What the Deal Means for Automotive Retail
The sale of Kia of Owings Mills highlights several trends shaping the automotive dealership industry: continued portfolio optimization by large retail groups, expansion by established operators and the strategic importance of brand representation.
For Asbury Automotive Group, the transaction supports its stated objective of directing resources toward its core business and key growth opportunities. The company can continue evaluating its portfolio and allocating capital according to its long-term priorities.
For Stivers Automotive Group, the purchase represents a new franchise relationship and an opportunity to expand into the Mid-Atlantic region. Its first Kia dealership provides a starting point for building a presence in the market and broadening its brand mix.
For Presidio, the transaction adds to its advisory work with Asbury during 2026 and demonstrates its role in facilitating dealership ownership changes.
The sale also illustrates how dealership transactions can serve different strategic purposes for buyers and sellers. A seller may decide to exit an operation to concentrate resources elsewhere, while a buyer may view that same business as an attractive opportunity for geographic expansion or brand diversification.
As automotive retail continues to evolve, dealership groups are likely to keep reviewing their portfolios and considering acquisitions or divestitures that support their business objectives. Transactions such as the Kia of Owings Mills sale demonstrate how established operators use M&A activity to adjust their market positions and pursue growth.
With the transaction closing on October 19, 2026, Stivers Automotive Group gains a new dealership and its first Kia franchise, while Asbury Automotive Group advances its portfolio management strategy with the assistance of Presidio Merchant Partners LLC.
The deal further underscores the importance of specialized advisory expertise, suitable buyer selection and coordinated legal support in completing automotive retail transactions.
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