Mike Rosvold, owner of Michael Automotive Group in Fresno, California, decided it was time to sell his dealerships and retire. This month, four rooftops owned by the group were purchased by Steve Cornelius and they are now Blackstone Toyota, Blackstone Chevrolet, Blackstone Cadillac, and Blackstone Volkswagen.
Assisting Mike with the transaction was Bill Scrivner, CEO of Pinnacle Mergers & Acquisitions, a nationwide automotive dealership brokerage firm out of Frisco, Texas. Bill was able to connect with Mike through a recommendation from Larry Van Tuyl, who had originally helped Mike get into the business decades ago. Bill said, "When Mike decided to sell his dealerships and retire, he hired The Presidio Group to assist him in finding a buyer. After several months without any offers, Mike called Larry Van Tuyl to ask him who he uses to buy and sell dealerships. Larry advised Mike to call Pinnacle M&A for help. Once Mike listed with Pinnacle Mergers and Acquisitions, he had a full-price offer in less than one week." The transaction closed June 1, 2022, and Mike Rosvold will be staying on as a consultant for a while before he retires.
About Pinnacle Mergers & Acquisitions
Pinnacle Mergers & Acquisitions has decades of experience facilitating successful sell-side and buy-side auto dealership brokerage transactions. The experience we have gained over the last 29 years and 700-plus transactions as intermediaries, for those who want to buy a car dealership or place a new car dealership for sale, is unparalleled in the industry. Learn more at PinnacleMergers.com
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Original Source: Pinnacle Mergers and Acquisitions Assists With the Sale of Four Dealerships in the Fresno Area