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The Presidio Group LLC (“Presidio”), an independent merchant banking firm
focused on mergers and acquisitions, capital raising, and investments in the
automotive retail and consumer mobility sectors, exclusively advised Mark
Tysinger on the sale of Tysinger Motor Company, Incorporated’s five
dealership franchises to Mills Automotive Group.
“The team at Presidio understood that we were selling a dealership group
that has been in our family for nearly 100 years and we wanted a buyer that
would not just protect but enhance our legacy”
The Tysinger Motor Company, Incorporated dealerships include Audi, Hyundai,
Genesis, and Mercedes-Benz dealership franchises as well as a Mercedes-Benz
Sprinter commercial van franchise. All are located in the Hampton Roads
region of Virginia.
“The team at Presidio understood that we were selling a dealership group
that has been in our family for nearly 100 years and we wanted a buyer that
would not just protect but enhance our legacy,” said Mark Tysinger,
president of Tysinger Motor Company, Incorporated. “With their extensive
industry knowledge, they were able to accurately value my dealerships and
find the perfect buyer.”
“These franchises complement our growing dealership group,” said Damian
Mills, CEO of Mills Automotive Group. “His stellar mix of franchises in the
diverse and growing Hampton Roads region is a perfect fit for our continued
geographic and brand expansion. I was especially impressed with the
professionalism of the Presidio Group throughout the course of this
significant acquisition for our company.”
“We look forward to building upon the strong culture and tradition of
community involvement established by Mark Tysinger and his family and
welcome the amazing team members of the Tysinger dealerships to our family,”
he added.
The Hampton Roads region is home to the headquarters of three Fortune 500
companies. It is the 8th largest metro region in the Southeast U.S., with a
fast-growing population.
“We were privileged to work with Mark Tysinger and his family on this
transaction,” said George Karolis, president of The Presidio Group.
“Tysinger has been an iconic brand in the region for nearly a century, with
deep roots in fostering a thriving culture for its employees and the local
community at large. It was of the utmost importance to find the right buyer
in Mills Automotive Group to continue building upon this culture and
legacy.”
He added: “Presidio has now closed five transactions in 2021 representing 76
dealership franchises, with combined revenues in excess of $3 Billion. We
expect 2021 to continue to be one of our most active years to date.”
“We have worked on many transactions involving the sale of a dealership
group that has been in a family for multiple generations before the family
decides to strategically diversify,” said Brodie Cobb, founder and CEO of
The Presidio Group. “We bring considerable expertise to the table for these
transactions and were honored to have assisted the Tysinger family in
achieving its goals.”
John Lloyd Tysinger, the great grandfather of the current owner, entered the
retail automotive business in 1926 when he opened a General Motors
dealership. He opened a Mercedes-Benz dealership in 1964 in an area that was
not considered demographically suited for the premium brand. The Tysinger
family proved that assumption to be incorrect. It was also farsighted in its
early investment in a distinct digital retailing process that has greatly
enhanced the bottom line.
South T. Patterson of Patten, Wornom, Hatten & Diamonstein, LLC served as
legal counsel to the Tysinger Motor Company, Incorporated. J. Gregory
Humphries of Shutts & Bowen LLP served as legal counsel to the Mills
Automotive Group.
The Presidio Group provided exclusive M&A advisory services to the Tysinger
Motor Company, Incorporated through its wholly owned investment bank,
Presidio Merchant Partners LLC.
The Presidio Group LLC 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 done over 200 transactions for over $13.5 billion. It also
publishes Presidio’s Where the Rubber Meets the Road, a leading source of
information about the automotive retail landscape and the automotive retail
M&A environment. The Presidio Group is based in Denver, CO and Atlanta, GA.
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.
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