Burt Automotive Completes the Sale of Two Auto Dealerships and Auto Brokerage Business to Groove Automotive Group

February 15, 2010

W.G. Nielsen & Co., a leading investment banking firm headquartered in Denver, announced that it acted as financial advisor to Burt Automotive Network in the sale of two of its Centennial, CO automotive dealerships, Burt Ford and Burt Mazda, and its automobile brokerage business, H.M. Brown & Associates, to Colorado-based Groove Automotive Group.

Burt Automotive Network was at one time the largest automobile dealer in Colorado. The automobile chain was purchased by Lloyd G. Chavez in 1987 from Nate Burt. Prior to buying the automobile chain, Mr. Chavez had started his career in the automobile industry as a salesman with Burt in1951. Burt Automotive was ranked as the largest Hispanic-owned business in the United States in 1993, 1995 and 1996 by Hispanic Business Magazine.

Wayne Nielsen, President of W. G. Nielsen & Co., was pleased to assist Burt in this complex transaction. "Burt has been an innovator and a leader in our community. This strategic sale allows the Company to pursue a dual strategy that marries the future -- fuel-efficient and alternative-energy vehicles -- with Burt’s existing strength as a nationwide fleet vehicle provider. It is proof positive that the Chavez family continues to be progressive and forward-thinking."

Groove Ford and Mazda join a group of 32 other automobile dealerships across the nation owned and operated under the parent company name Summit Automotive Partners. Twelve of its automobile dealerships are now based in Colorado: Groove Ford and Mazda in Centennial, Groove Toyota, Scion and Subaru in Englewood; Vista Subaru and Jeep Chrysler Dodge located in Silverthorne, and Vista Chevrolet, Honda and Subaru in Glenwood Springs. The group also owns dealerships in New England and Nashville. Groove’s President and CEO, Rod Buscher, praised the Burt legacy and will focus on leveraging Burt’s reputation for great customer experiences with Groove’s enhanced network of dealerships.

Burt’s executive team made the decision to have W.G. Nielsen & Co. represent Burt because of the Investment Bank’s experience with complex transactional structures and its reputation for finding advantageous solutions for its clients. "Wayne and Bill Nash were immensely helpful and their experience in this arena proved to be invaluable," stated Hank Held, Senior Vice President at Burt.

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