The automotive landscape in Central Virginia is undergoing an exciting shift as Murgado Automotive Group has announced its acquisition of Mercedes-Benz of Midlothian, along with Mercedes-Benz of Richmond. This significant purchase from Rod McGeorge marks a new chapter for these established dealerships and signals Murgado’s growing footprint in the luxury automotive market. This acquisition follows the recent sale of McGeorge Toyota, indicating a substantial realignment in the Richmond-area dealership network. Haig Partners LLC played a crucial role as the exclusive sell-side advisor in this pivotal transaction.
For over six decades, the McGeorge family name has been synonymous with automotive excellence in the Richmond region. Starting from humble beginnings as The David R. McGeorge Car Company, a used car venture, the family’s journey into luxury retail began with the acquisition of Mercedes-Benz of Richmond in 1955. The portfolio expanded in 1968 with the addition of McGeorge Toyota, and in 2003, Mercedes-Benz of Midlothian was entrusted to the McGeorge family, further solidifying their legacy in the Virginia automotive sector. Under Rod McGeorge’s leadership, the McGeorge dealerships flourished, growing to employ over 300 individuals and becoming pillars of the local business community.
Reflecting on this transition, Rod McGeorge shared, “My grandfather’s vision began with Mercedes-Benz of Richmond, and it has been an honor to build upon that foundation. As I step into a new phase, I am filled with pride for what our dedicated team has accomplished over the years. I am confident that Murgado Automotive Group will continue to uphold the high standards of excellence that our customers have come to expect.” His words convey a sense of accomplishment and optimism for the future stewardship of the dealerships.
Kevin Nill, Managing Director of Haig Partners, who advised McGeorge throughout the sale, highlighted the desirability of the Mercedes-Benz franchise, especially within the attractive Richmond market. “Mercedes-Benz dealerships are highly sought after, and the Richmond, VA, area further amplified buyer interest. We saw significant engagement from numerous leading automotive groups,” Nill stated. He further emphasized the role of Haig Partners in not just financial transactions but also in nurturing strong relationships and navigating the complexities of OEM requirements during dealership sales.
Mario Murgado, CEO of Murgado Automotive Group, expressed his enthusiasm for this acquisition, stating, “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have consistently demonstrated outstanding performance in Central Virginia. We are grateful to the McGeorge family for this opportunity and to Mercedes-Benz for their confidence in our group to build upon the strong legacy of these dealerships and represent one of the world’s most prestigious brands.” Murgado’s statement underscores his commitment to continuing the tradition of excellence and leveraging the established reputation of the Midlothian Mercedes-benz Dealer to further elevate customer experiences in the region.
