The Presidio Group Advises on the Sale of Terry Lee Hyundai & Genesis of Noblesville to Penske Automotive Group

The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising, and investments in the automotive retail and consumer mobility sectors, exclusively advised Terry Lee on the sale of Terry Lee Hyundai & Genesis of Noblesville to Penske Automotive Group (NYSE: PAG).

“It is bittersweet to leave an industry I have worked in my entire life, but I know Penske Automotive will continue to serve the community and customers with the same high standards I and my team strove for,” said Terry Lee, President of Terry Lee Hyundai & Genesis of Noblesville. “I am especially proud of the dealerships’ innovative design, which allows them to take advantage of synergies while maintaining separate brand identities.”

He added: “I again turned to the consummate professionals at The Presidio Group to handle this transaction because they understood my priorities. I knew they would find the best buyer and that the entire process would be timely and confidential.”

Commenting on the acquisition, Chair and CEO Roger Penske said, “We are pleased to add the Hyundai and Genesis brands to our existing Honda and Chevrolet footprint in the Indianapolis metropolitan market and welcome their employees to our team. We look to enhance the strong legacy of these dealerships while building additional scale in this important market for Penske Automotive Group.”

“The retail automotive world is changing as dealers exit the industry. Knowing how franchises fit into potential buyers’ strategic growth plans is crucial to providing our clients with the best possible outcome,” said Brodie Cobb, founder and CEO of The Presidio Group. “We were honored to help Terry Lee achieve his financial and personal goals by bringing him and Penske Automotive Group together.”

“Demand for dealerships continues to be strong, in particular for Hyundai and Genesis franchises,” said George Karolis, President of The Presidio Group. “We were privileged to once again work with both Terry Lee and the Penske Group on this transaction. Dealership M&A transactions continue at their record pace and we expect heightened activity in 2022.”

In 2014, Terry Lee started Terry Lee Crossing, a 72-acre commercial real estate development on Highway 37, just ten minutes north of Indianapolis in Noblesville. In 2015, he built new dealerships for the Genesis and Hyundai franchises with room for five more manufacturers or other commercial properties, creating the commercial area known as Terry Lee Crossing. The dealerships have won numerous accolades including CarGuru’s Top Dealer Rating 2020, a 2020 Automotive News Best Dealership to Work For award, and the IndyStar Top Workplaces 2020 award.