MONROE, N.C.--(BUSINESS WIRE)--Mar 6, 2025--
The Presidio Group LLC ("Presidio"), an independent merchant banking firm focused on mergers and acquisitions in the automotive retail and consumer mobility sectors, exclusively advised the Walters family on the sale of Bob Mayberry Hyundai in Monroe, N.C., to Pablo River Partners, a Jacksonville, Fla.-based investment firm.
The transaction, which was finalized March 5, marks the close of Missy and Ingram Walters’ long history in retail automotive as they pass the torch on to new owners. Pablo River Partners is led by Chairman and CEO Charlie Tomm, who is re-entering the retail automotive space with the acquisition.
"After dedicating much of our lives to building this dealership and serving the Monroe community, Missy and I felt it was the right time to transition the business to new leadership," Ingram Walters said. "With the help of Presidio and its deep industry connections, we found the perfect buyer in Pablo River Partners, which shares our commitment to the Hyundai brand and the local area. We know Charlie will be a terrific steward of the business we've built and will continue the dealership's legacy of excellence."
For Tomm, the transaction marks a return to dealerships. He previously held executive roles as CEO of Ford of Clermont, which was sold in 2022; CEO of Brumos Automotive, a Florida luxury-brand dealership group that was sold in 2016; CEO of Asbury Automotive Group, Inc. subsidiary Coggin/Courtesy AutoGroup until 2008; and CEO of Coggin Automotive Group until its merger with Asbury in 1998.
"Ingram and I immediately hit it off, and I was impressed by the Walters family's deep roots in Monroe and their dedication to giving back to the community," said Tomm. "We plan to build upon the strong foundation they have established by investing in the facility and keeping the dealership’s talented team in place."
The dealership’s real estate, consisting of approximately 28,000 square feet of facilities on 10 acres, was included in the sale.
"The Presidio team has built deep expertise in facilitating smooth ownership transitions for family-owned dealerships,” said Alex Watterson, managing director at Presidio. “The Walters family has built an exceptional business and strong community ties over decades, and we were honored to help them find the right buyer to carry on that legacy.”
"It was important for the Walters family to find a buyer who shared their commitment to the Hyundai brand and the community," said George Karolis, president of Presidio. "We believe Pablo River Partners provides just that match and that Presidio’s expertise helped maximize the value of the deal for both parties. With the dealership M&A market still booming and Presidio’s deal pipeline more robust than ever before, the industry’s transaction outlook for 2025 is exceptionally strong.”
Jeff Roberts and Emily Dillow of Underwood & Roberts PLLC served as outside legal counsel to the Walters family. Stephen Dietrich and Kyle Gaughan of Holland & Knight LLP represented Pablo River Partners.
The Presidio Group provided exclusive M&A advisory services to the Walters family through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Bob Mayberry Hyundai:
Bob Mayberry Hyundai is a full-service Hyundai dealership serving the Monroe, N.C., community under the direction of longtime owners Missy and Ingram Walters. Ingram Walters is a Union County native with more than 25 years of experience in the real estate and automotive industries. The Walters have been enthusiastic supporters of the Monroe and greater Union County community and have sponsored many local charitable events. For more information, visit www.bobmayberryhyundai.com.
About The Presidio Group LLC
The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed more than 280 transactions totaling almost $19 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250306417517/en/
CONTACT: Brodie Cobb
(720) 844-3151
bcobb@thepresidiogroup.comGeorge Karolis
(678) 831-5520
gkarolis@thepresidiogroup.com
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA NORTH CAROLINA
