June 9, 2016
W.G. Nielsen & Co., a leading investment banking firm headquartered in Denver, CO, announced that Moreland Auto Group has sold three of its dealerships in Denver, Colorado: Colorado Chrysler Jeep, Fiat of Denver and Cherry Creek Dodge. The dealerships were co-owned by Doug Moreland and Carl Ventsam.
"Larry H. Miller Dealerships was an ideal buyer to continue the legacy we built and represents the second transaction we have done with them, the first having sold six dealerships in Arizona in 2013," said Doug Moreland, head of the Moreland Auto Group. "All of our personnel are staying with the Miller Group, which has a terrific reputation for taking care of their employees. Their focus on customer service, community and giving back assures me that these stores and our customers will be in good hands."
Dean Fitzpatrick, President at Larry H. Miller Dealerships commented, "Denver is a strong market for us and these brands are a great fit with our business model. With the acquisition of these dealerships, we are able to employ more Denver residents and deepen our connection and commitment to the community."
Wayne Nielsen, who led the deal for W.G. Nielsen & Co., believes that this is indicative of increasing opportunities within the retail automotive sector. "We continue to build strong relationships within automotive retailing, and this transaction is another example of the increasing merger and acquisition activity. We expect to see more transactions done in this sector in 2016 and 2017."
About Dealin' Doug, Moreland Auto Group
Founded in 1980, Moreland Dealerships have become a staple in Colorado's automotive world. Well known for his creative and colorful "Dealin Doug" advertisements, Doug Moreland is an acknowledged leader in Colorado's automotive industry. The Company's remaining platform is comprised of 12 automotive dealerships representing 8 manufacturers
About Larry H. Miller Dealerships
Larry H. Miller Dealerships operates 58 dealership locations under 20 different automotive brands in seven western states. The group employs more than 1,000 individuals at 11 Colorado locations. Since 1996, more than $400,000 has been donated to qualified nonprofits throughout Colorado. Funds are generated, in large part, through LHM companies and employee contributions, as well as donations from the general public. For more information on Larry H. Miller Dealerships, please visit www.lhmauto.com.
About W.G. Nielsen & Co.
W.G. Nielsen & Co. is a Denver-based investment banking firm that specializes in mergers and acquisitions (sell side and buy side advisory services) and structered and leveraged financing transactions. W.G. Nielsen & Co., an independently owned, FINRA investment banking firm, offers clients innovative financing solutions. The firm enables select mid-sized clients to achieve their goals through strategic alliances, industry experience, and proven methodologies. Since the firm's inception in 1996, W.G. Nielsen & Co. professionals have completed transactions valued in excess of $4 billion.