Keating Auto Group Expands in Texas; A growing group buying agents in Ohio and New Jersey
The Keating Auto Group has acquired three more stores in Texas, while a growing agent group has purchased two import stores over the past month, and a family-owned agency has purchased its second store in Iowa.
Here’s a look at deals that include import and local stores. One deal includes a set sorted by Car News In the list of the 150 best agencies.
The Keating Auto Group expanded its presence in the Houston market earlier this month with the acquisition of three rooftops.
Keating Auto, of Victoria, Texas, on November 9, purchased Hub Hyundai Houston, Hub Hyundai Katy-Genesis West Houston and Hub Mitsubishi Katy, all in Houston, of retired dealerships Bob Cox and Jackie Cox, said Ben Keating, owner of Keating Auto.
The dealership’s name was changed to Northwest Hyundai, West Houston Hyundai-Genesis of West Houston, and West Houston Mitsubishi.
He said Keating plans to build separate facilities for the West Houston Hyundai and Genesis brands.
Keating said he acquired his first Hyundai dealership in 2015 in College Station, Texas, and later built a new facility. He said he previously had a Genesis franchise in College Station but got a buyout deal from the automaker about three years ago.
“I’ve invested heavily in Hyundai with a new facility several years ago,” Keating said. Car News. “We have seen tremendous growth and huge profitability in this store since we built the new facility. It has been a great relationship. I love what Hyundai does, the cars they make, and the way they approach their business. I am excited to represent them.”
It’s the group’s first Mitsubishi store, which now has 23 decks – all in Texas.
Bill Scrivener and Mike Sims of Pinnacle Mergers and Acquisitions, a buying and selling company of Frisco, Texas, represented the sellers in the transaction.
Keating Auto ranks 39th in Car NewsList of the 150 largest US-based dealership groups, with 21,480 new retail vehicles sold in 2020.