Murgado Automotive Group has officially announced its acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian, prominent dealerships located in the Richmond, Virginia metropolitan area. This strategic move marks a significant expansion for Murgado Automotive Group and signifies a new chapter for the Mercedes-Benz presence in Richmond, VA. The acquisition, finalized with seller Rod McGeorge, follows the recent sale of McGeorge Toyota, further reshaping the automotive landscape in the region. Haig Partners LLC served as the exclusive advisor for Rod McGeorge in this significant transaction.
The McGeorge family’s legacy in the Richmond automotive market spans over six decades, beginning with The David R. McGeorge Car Company, a used car dealership. Their journey with the luxury brand commenced with the acquisition of Mercedes-Benz of Richmond in 1955. The family further expanded their portfolio with McGeorge Toyota in 1968 and Mercedes-Benz of Midlothian in 2003. Under the leadership of Rod McGeorge, the McGeorge dealerships grew into a substantial operation employing over 300 individuals, becoming a cornerstone of the Richmond, VA automotive community.
Reflecting on the transition, Rod McGeorge shared, “My grandfather initiated our involvement in franchised auto retail with Mercedes-Benz of Richmond, driven by a vision for growth. My father continued this vision, and as I transition, I am filled with immense pride in our collective achievements over the years. I am eager to dedicate time to personal pursuits, enjoying the outcomes of our hard work and commitment. It has been an extraordinary journey, and I am enthusiastic about Murgado Automotive Group’s role in upholding the tradition of excellence we have cultivated at Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian.”
Kevin Nill, Managing Director of Haig Partners, highlighted the desirability of the Mercedes-Benz franchise and the appeal of the Richmond, VA market, stating, “Similar to Toyota, Mercedes-Benz is a highly sought-after franchise. Combined with the attractiveness of the Richmond, VA area, this opportunity generated considerable interest from numerous leading automotive groups.”
Nill further emphasized the advisory role of Haig Partners, “We are privileged to advise clients, assisting them in maximizing the value of their life’s work. In facilitating automotive dealership sales, it extends beyond mere financial figures. It involves nurturing robust relationships between buyers and sellers and possessing comprehensive knowledge of the intricate requirements and approval processes set forth by OEMs.”
Mario Murgado, CEO of Murgado Automotive Group, expressed his enthusiasm for the acquisition, stating, “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have consistently demonstrated exceptional performance in Central Virginia for many years. I extend my gratitude to the McGeorge family for their collaboration on this opportunity and to Mercedes-Benz for entrusting our group to build upon the esteemed legacy of these dealerships and one of the world’s most recognized brands.” This acquisition signals a promising future for Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian under the Murgado Automotive Group umbrella, ensuring continued service and excellence for customers in the Richmond, VA region.
