Mills Automotive Team of Charlotte, N.C., has bought 3 dealerships in Hampton, Va., from Tysinger Motor Co., owned by Mark Tysinger.
The acquisition, which closed on Aug. 31, provided Mercedes-Benz of Hampton, Audi Hampton and Tysinger Hyundai-Genesis, furthermore a Mercedes-Benz Sprinter professional van franchise.
The Tysinger dealership enterprise began almost 100 decades back when John Tysinger, fantastic-grandfather of Mark Tysinger, opened a General Motors dealership in 1926. Tysinger, in a assertion, stated it desired to obtain a customer to increase its extended-standing legacy in the community.
“These franchises enhance our escalating dealership team,” Damian Mills, CEO of Mills Automotive, mentioned in a assertion. “His [Mark Tysinger’s] stellar combine of franchises in the assorted and expanding Hampton Roads region is a perfect suit for our ongoing geographic and brand name growth.”
The group of outlets will now operate as Vintage Hampton Automobile Shopping mall, in accordance to the Mills Automotive Group internet site.
Mills, an Automotive Information 40 Under 40 honoree in 2013, operates suppliers in Virginia, Kentucky, North Carolina, South Carolina and West Virginia. His team is the largest Black-owned dealership group in the U.S. owned by a single principal, in accordance to the Countrywide Association of Minority Automobile Dealers, of which he is a longtime board member.
The Presidio Team, a Denver- and Atlanta-primarily based investment decision banking and advisory agency, represented Tysinger in the sale of the dealerships.