Flow Automotive Cos. further added to its presence in Charlottesville, Va., with the Monday purchase of five auto stores representing eight brands, in one of the largest dealership acquisitions of the year, as tracked by Automotive News.
Flow Automotive bought Mercedes-Benz of Charlottesville, Umansky Toyota of Charlottesville, Umansky Chrysler-Dodge-Jeep-Ram of Charlottesville, Umansky Honda of Charlottesville and Umansky Subaru of Charlottesville from Umansky Automotive Group, according to George Karolis. He's president of Presidio Group, an investment banking and dealership advisory company in Denver and Atlanta. Presidio Group represented Flow Automotive in the transaction.
The name of the Mercedes-Benz dealership stays the same, while the others were renamed Flow Toyota of Charlottesville, Flow Chrysler-Dodge-Jeep-Ram of Charlottesville, Flow Honda of Charlottesville and Flow Subaru of Charlottesville.
Mercedes-Benz and Stellantis are new brands for Flow Automotive, according to Eric Flow, president of management services for the group.
On its website, Flow Automotive described the deal as its largest acquisition to date.
"They're brands that fit really well with our portfolio that we have here and give us a higher level of scale from a platform perspective in this community," Flow told Automotive News.