A Locke Lord team provided counsel to Allen Samuels Auto Group in the sale to AutoNation of 12 dealerships owned by the automotive retailer in various Texas markets. The dealerships, including 31 franchises, represent approximately $800 million in annual revenue. The franchises to be acquired include Chrysler, Dodge, Jeep, Ram, Chevrolet, Hyundai, Mercedes-Benz and Sprinter. This transaction complements other recent transactions in the automotive industry that Billie, Matt and the rest of the Locke Lord team have provided counsel on, including recent representation of investors and owners on the buy-side of automotive dealership transactions, as well as recent representation of one of the leading investment banks in the automotive industry. The Allen Samuels/AutoNation transaction is subject to customary terms and conditions and is expected to close in the first quarter of 2016. Other members of the Locke Lord team that assisted on this transaction and the other recent automotive transactions include Partners Tai Tran (Real Estate), Susan Rainey (Environmental), Van Jolas (HSR), Ed Razim (Benefits), Steve Peterson (Corporate) and Karl Fryzel (Tax).
Posted October 30, 2015