Murgado Automotive Group has significantly expanded its footprint in the Virginia automotive market with the acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian. These dealerships, formerly owned by Rod McGeorge, represent a strategic addition to Murgado’s growing portfolio and underscore the continued desirability of the Mercedes-Benz brand in key markets like Midlothian, Virginia. This acquisition follows the recent sale of McGeorge Toyota, signaling a significant shift in the Richmond area’s automotive retail landscape. Haig Partners LLC played a crucial role as the exclusive sell-side advisor in this important transaction.
The McGeorge family’s legacy in the Richmond automotive scene spans over six decades, beginning with The David R. McGeorge Car Company, a used car dealership. Their journey with Mercedes-Benz began in 1955 with the acquisition of Mercedes-Benz of Richmond. The family further expanded their holdings with McGeorge Toyota in 1968, and in 2003, were awarded Mercedes-Benz of Midlothian. Under Rod McGeorge’s leadership, the McGeorge dealerships became a cornerstone of the community, employing over 300 individuals and building a reputation for quality service and customer satisfaction across Richmond and areas like Midlothian, Virginia.
Reflecting on the transition, Rod McGeorge expressed pride in the family’s achievements, stating, “My grandfather initiated our venture into franchised auto retail with Mercedes-Benz of Richmond, driven by a vision for growth. My father continued this legacy, and as I now step aside, I am filled with immense pride in what we have collectively built over these many years. I am eager to enjoy the rewards of our hard work and dedication. It has been an incredible journey, and I am confident that Murgado Automotive Group will uphold the tradition of excellence we have established.” This sentiment highlights the strong foundation and reputation that Mercedes-Benz dealerships in both Richmond and Midlothian, Virginia have cultivated over the years.
Kevin Nill, Managing Director of Haig Partners and advisor to McGeorge, emphasized the high demand for Mercedes-Benz franchises, particularly in attractive markets such as Richmond, VA. “Similar to Toyota, Mercedes-Benz is a highly sought-after franchise. The appeal of Richmond, Virginia, further amplified the already significant interest from numerous leading buyers,” Nill commented. He further added, “Advising clients in maximizing the value of their life’s work is a privilege. The sale of automotive dealerships extends beyond mere financial transactions; it involves nurturing robust buyer relationships and possessing in-depth knowledge of the complex OEM requirements and approval procedures.”
Mario Murgado, CEO of Murgado Automotive Group, conveyed his enthusiasm for the acquisition and the opportunity to build upon the McGeorge family’s success. “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have consistently been top performers in Central Virginia for many decades. I extend my gratitude to the McGeorge family for their collaboration on this opportunity and to Mercedes-Benz for their trust in our company to continue building upon the legacy of these dealerships and one of the most prestigious brands globally.” This acquisition signals Murgado Automotive Group’s commitment to strengthening its presence in the luxury automotive market and serving customers in the Richmond and Midlothian, Virginia region with exceptional Mercedes-Benz vehicles and services.
