Car & Automotive

Sheey Auto Stores, DCD Automotive among buyers in 4 dealership acquisitions

Four dealership groups added stores in the mid-Atlantic, Midwest and New England in four transactions late in the third quarter and early in the fourth quarter.

Here’s a look at the deals that involved import and domestic brands. One transaction involved a dealership group ranked on Automotive News‘ top 150 dealership groups based in the U.S.

Sheehy grows in Virginia
Sheehy Auto Stores
of Fairfax, Va., has purchased import- and domestic-brand stores in Fredericksburg, Va., about an hour’s drive south of its headquarters.

The Sheehy group, led by President Vince Sheehy, on Sept. 29 bought Ultimate Buick-GMC and Ultimate Subaru from Randy Harris, president of Ultimate Automotive. Sheehy already had a Toyota store in Fredericksburg.

“Sheehy Auto Stores is thrilled to be expanding in the Fredericksburg market,” Vince Sheehy said in a statement. “With the Toyota, Subaru and Buick-GMC brands, we will be in a great position to have exactly the new and used vehicles our customers want.”

Sheehy has renamed the acquired dealerships Sheehy Buick-GMC Fredericksburg and Sheehy Subaru Fredericksburg.

The transaction marks the third Subaru store and second Buick-GMC dealership for Sheehy, which has dealerships in Maryland and Virginia.

In January, Sheehy bought one of the last CarMax Inc. franchised dealerships: CarMax Laurel Toyota in Maryland. It also sold a Ford dealership in Marlow Heights, Md., in April.

Sheehy ranks No. 44 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 19,441 new vehicles in 2020.
Performance Brokerage Services, an Irvine, Calif., buy-sell firm, handled the Sheehy-Ultimate transaction.

DCD enters new state
Growing DCD Automotive Holdings Inc. has entered Rhode Island with the acquisition of two import dealerships.

DCD on Oct. 1 bought Tarbox Toyota and Tarbox Hyundai, both in North Kingstown, R.I., from Ed Tarbox. Tarbox acquired the Toyota dealership in 1996 and had owned the Hyundai store since 2004. North Kingstown is south of Warwick, R.I.

The stores have been renamed Nucar Tarbox Toyota and Nucar Tarbox Hyundai.

“The Tarbox dealerships have great histories, with even better teams, and we look forward to building upon their already solid foundations to provide consumers with a quality car-buying experience, quality customer service and a quality selection of vehicles — made even more expansive with our company’s shared resources and inventory,” DCD CEO Chris Dagesse said in a statement.

DCD, of Norwood, Mass., now has 18 dealerships throughout Delaware, Massachusetts, New Hampshire and Rhode Island. In March, DCD bought two Boston-area Chevrolet dealerships.

Woody Woodward and John Hyland of DCG Acquisitions, a Dave Cantin Group company, handled the DCD-Tarbox transaction.