The Presidio Group Advised Asbury Automotive Group on the Sale of Six Luxury Dealerships in St. Louis to MileOne Autogroup
The Presidio Group LLC ("Presidio"), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, advised Asbury Automotive Group, Inc. ("Asbury") on the sale of six Plaza Motors dealerships and a collision center in the St. Louis market to MileOne Autogroup ("MileOne").
The sale of the Plaza Motors businesses and their related real estate closed Feb. 23. The transaction involved Plaza Mercedes-Benz, Mercedes‑Benz of Chesterfield, Plaza BMW, Land Rover St. Louis, Audi Creve Coeur, Plaza Infiniti and Plaza Collision Center. MileOne will retain the well‑known Plaza name in the market.
For Asbury, the decision to sell the Plaza locations reflects a broader portfolio management initiative following a period of significant growth, including its 2025 acquisition of 33 dealerships from the Herb Chambers Companies.
"When we made the strategic decision to exit the St. Louis market, it was not a decision made lightly. We are confident that MileOne will be an outstanding steward of the Plaza platform for our team members, partners and guests," said David Hult, Asbury president and CEO. "The Presidio team has been a trusted advisor of ours over many years, and we appreciated their partnership and guidance on this transaction."
For MileOne, the acquisition provided an opportunity to enter a new region with immediate scale and a strong mix of luxury brands.
"Acquisitions with the kind of scale, brand mix and reputation that Plaza Motors offers are extremely rare," said Steve Fader, CEO of MileOne Autogroup. "This transaction aligns perfectly with MileOne's strategy of expanding our footprint with leading luxury brands in attractive markets, and we are honored to carry forward the Plaza name. Our relationships with both Asbury and The Presidio Group over the years give us great confidence in the success to come for MileOne in the St. Louis market."
The transaction is emblematic of broader trends happening in the U.S. dealership market.
"The sale of the Plaza Motors platform is a textbook example of portfolio management in action," said George Karolis, Presidio president. "Asbury has been a valued client of Presidio for many years, and this transaction highlights how leading groups are actively realigning their footprints to further their long-term objectives. We were honored to work alongside David Hult, Dan Clara and the entire Asbury team on this important transaction, and I'm thankful for our long-term relationship."
Jones Day, led by partner Ryan Drzemiecki, provided legal counsel to Asbury. Katherine Frazier, shareholder of Hill Ward & Henderson, P.A., provided legal counsel to Asbury on real estate matters. Underwood & Roberts, PLLC, led by Jeffery G. Roberts, provided legal counsel to MileOne.
The Presidio Group provided exclusive M&A advisory services to Asbury Automotive Group through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Asbury Automotive Group
Asbury Automotive Group, Inc. (NYSE:ABG), a Fortune 500 company headquartered in Atlanta, Ga., is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury's constant North Star. Asbury presently operates 161 new vehicle dealerships, consisting of 209 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 38 collision repair centers. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation and prepaid maintenance. Asbury is recognized as one of America's Fastest Growing Companies 2024 by the Financial Times, one of the World's Most Trustworthy Companies for 2024 and 2025 by Newsweek, and one of America's Most Successful Small-Cap Companies by Forbes for 2026. For additional information, visit www.asburyauto.com.
About MileOne Autogroup
MileOne Autogroup, based in Towson, Md., is one of the largest automotive retailers in the United States with a network of dealerships located throughout the Mid-Atlantic and Midwest regions. MileOne operates 72 auto dealerships representing 26 brands. It offers a wide selection of new and used vehicles, related financing services and vehicle repair and maintenance services. For additional information, visit www.mileone.com.
About The Presidio Group LLC
The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed more than 300 transactions for over $20.0 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.
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George Karolis
(678) 831‑5520
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Lauren Pfohl
(404) 434‑1837
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