Murgado Automotive Group has officially broadened its reach into the Virginia market with the acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian. This significant move marks a new chapter for luxury car enthusiasts in the greater Richmond, Virginia area, as these dealerships transition from the McGeorge family to the Murgado Automotive Group, known for its commitment to excellence and customer satisfaction. The acquisition, finalized recently, includes both Mercedes-Benz locations and follows the sale of McGeorge Toyota, signaling a major shift in the Richmond automotive landscape. Haig Partners LLC served as the exclusive sell-side advisor, facilitating this important transaction.
For over six decades, the McGeorge family name has been synonymous with automotive excellence in Richmond, VA. Starting from The David R. McGeorge Car Company, a used car dealership, the family’s journey into luxury began with the acquisition of Mercedes-Benz of Richmond in 1955. Further solidifying their presence, McGeorge Toyota was established in 1968, and Mercedes-Benz of Midlothian joined the group in 2003. Under Rod McGeorge’s leadership, the McGeorge dealerships grew to employ over 300 individuals, becoming a cornerstone of the Richmond business community.
Reflecting on the legacy, Rod McGeorge, the former owner, shared his sentiments: “My grandfather’s vision for Mercedes-Benz of Richmond laid the foundation for growth and excellence. My father continued this legacy, and as I pass the torch, I am filled with pride for what we have accomplished over the years. I am excited to see Murgado Automotive Group build upon this foundation.” His words highlight the deep history and personal connection the McGeorge family has with Mercedes-Benz in Richmond, VA, and express optimism for the future under new ownership.
Kevin Nill, Managing Director of Haig Partners, who advised on the sale, noted the high demand for Mercedes-Benz franchises, particularly in attractive markets like Richmond, VA. “The Mercedes-Benz franchise, combined with the appeal of Richmond, VA, generated significant interest from numerous leading buyers,” Nill stated. He emphasized the importance of understanding OEM requirements and building strong relationships in dealership transactions, highlighting the complexities beyond just financial aspects.
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 top-tier performance in Central Virginia for many years. We are grateful to the McGeorge family for this opportunity and to Mercedes-Benz for entrusting us to carry forward the legacy of these exceptional dealerships and one of the world’s most prestigious brands.” Murgado’s statement underscores his group’s commitment to maintaining and enhancing the high standards already established at Mercedes-Benz of Richmond VA and Mercedes-Benz of Midlothian, promising a continued focus on delivering exceptional vehicles and service to the Richmond community. This acquisition signals a promising future for Mercedes-Benz in Richmond, VA, under the experienced leadership of Murgado Automotive Group.
