Murgado Automotive Group has broadened its portfolio with the acquisition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian, prominent dealerships located in the Richmond, Virginia metropolitan area. The acquisition from Rod McGeorge marks a significant expansion for Murgado and adds two high-performing Mercedes-Benz franchises to their growing automotive network. This follows the recent sale of McGeorge Toyota, signaling a major shift in the Richmond automotive landscape. Haig Partners LLC served as the exclusive advisor to the seller in this key transaction.
For over six decades, the McGeorge family dealerships have been a cornerstone of the Richmond automotive community. What began as The David R. McGeorge Car Company, a used car venture, evolved significantly with the acquisition of Mercedes-Benz of Richmond back in 1955. The family further expanded their reach with McGeorge Toyota in 1968, recently acquired by Graham Ourisman Automotive, and Mercedes-Benz of Midlothian, established in 2003. Under Rod McGeorge’s leadership, the McGeorge dealerships grew into a substantial operation employing over 300 individuals, cementing their legacy in the region. Now, Mercedes-Benz of Richmond transitions to new ownership, poised for its next chapter.
Reflecting on the transition, Rod McGeorge, the former owner, shared, “My grandfather’s entry into the franchised auto retail business began with Mercedes-Benz of Richmond, fueled by a vision for growth. My father continued to build upon this foundation, and as I now step away, I am filled with immense pride in our collective achievements over the 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 at Mercedes-Benz of Richmond and Midlothian.”
Kevin Nill, Managing Director at Haig Partners and advisor to McGeorge, highlighted the desirability of the Mercedes-Benz franchise, stating, “Mercedes-Benz, particularly in an attractive market like Richmond, VA, is a highly sought-after franchise. This acquisition generated significant interest from numerous leading buyers.” He further added, “Advising clients in these transactions is a privilege, allowing us to help them realize the full value of their life’s work. The sale of automotive dealerships involves more than just financials; it requires cultivating strong buyer relationships and possessing in-depth knowledge of OEM requirements and approval processes.”
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 entrusting us with this opportunity and to Mercedes-Benz for their confidence in our company to build upon the strong legacy of these dealerships, representing one of the most prestigious brands worldwide.” This acquisition signals Murgado Automotive Group’s commitment to expanding its presence in key markets and further strengthening its representation of luxury automotive brands like Mercedes-Benz of Richmond.
