![]() Group 1 owns and operates 188 automotive dealerships, 242 franchises, and 48 collision centers in the United States, the United Kingdom and Brazil that offer 32 brands of automobiles. Jefferies LLC acted as financial advisor and Skadden, Arps, Slate, Meagher and Flom LLP acted as legal advisor to Highline Management Inc.įor additional information about this transaction, please see the Form 8-K that will be filed in connection with this transaction. acted as legal advisor to Group 1 Automotive, Inc. Lazard acted as financial advisor and Vinson & Elkins L.L.P. dealership count would increase to 147, which includes 46 locations in the Northeast, and 218 locations globally. With the addition of the Prime dealerships, Group 1's total U.S. Year to date 2021, Group 1 has completed $420 million of acquired revenues, and with this proposed acquisition, total acquired revenues are expected to be at least $2.25 billion at the anticipated closing date in late November. This gives us the flexibility to continue shareholder-focused capital allocation, which includes accretive acquisitions, share repurchases, dividends, and return-driven capital expenditures." credit facility pro-forma leverage ratio will be approximately 2.0x after taking into account the financing of this transaction with debt and cash on hand, and liquidity remains comfortably within our targets. Group 1's Senior Vice President and Chief Financial Officer Daniel McHenry added, "While this transaction provides a transformation in scale for our company, our U.S. and Brazilian Operations for Group 1 Automotive. The addition of Prime Automotive enables us to extend our reach of AcceleRide ®, Group 1's industry leading digital retailing process, to even more customers," said Daryl Kenningham, President of U.S. ![]() We are also proud to welcome Prime Automotive's 1,800 employees as new teammates to the Group 1 family. "We know Prime's markets well and the opportunities they represent. Once the acquisition is completed, Group 1's consolidated brand mix is expected to be approximately 43% luxury, 36% non-luxury import, and 21% non-luxury domestic. With 30 dealership locations and three collision centers in the Mid-Atlantic and New England markets, Prime's brand portfolio includes Acura, Airstream, Audi, BMW, Buick, Chrysler, Dodge, Ford, GMC, Honda, Jeep, Land Rover, Mazda, Mercedes-Benz, MINI, Porsche, RAM, Subaru, Toyota, Volkswagen, and Volvo. Hesterberg, Group 1's President and Chief Executive Officer. We are pleased to have this opportunity to leverage our existing cost structure and to further diversify our U.S. "Group 1 has successfully operated in the Northeastern U.S. In 2020, the corresponding Prime dealerships generated $1.8 billion in annual revenues and retailed over 52,000 new and used vehicles. (NYSE: GPI), ("Group 1" or the "Company" or the "Buyer"), an international, Fortune 500 automotive retailer with 188 dealerships located in the U.S., U.K., and Brazil, today announced it has entered into a definitive agreement to purchase substantially all the assets, including real estate, of Prime Automotive Group (the "Seller"), headquartered in Westwood, Massachusetts. 13, 2021 /PRNewswire/ - Group 1 Automotive, Inc. You don’t need to download an individual bus app or train app, Moovit is your all-in-one transit app that helps you find the best bus time or train time available.įor information on prices of Bus, costs and ride fares to Seacoast Automotive, please check the Moovit app.HOUSTON, Sept. We make riding to Seacoast Automotive easy, which is why over 930 million users, including users in Saco, trust Moovit as the best app for public transit. Get directions from and directions to Seacoast Automotive easily from the Moovit App or Website. Want to see if there’s another route that gets you there at an earlier time? Moovit helps you find alternative routes or times. ![]() These are the lines and routes that have stops nearby. You can get to Seacoast Automotive by Bus. Looking for the nearest stop or station to Seacoast Automotive? Check out this list of stops closest to your destination: View schedules, routes, timetables, and find out how long does it take to get to Seacoast Automotive in real time. Moovit provides free maps and live directions to help you navigate through your city. Wondering how to get to Seacoast Automotive in Saco, United States? Moovit helps you find the best way to get to Seacoast Automotive with step-by-step directions from the nearest public transit station. Public Transit to Seacoast Automotive in Saco
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