The Presidio Group Advised Asbury Automotive Group on the Sale of Three South Carolina Dealerships to RBM of Atlanta
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, exclusively advised Asbury Automotive Group ("Asbury") on the sale of three dealerships in Greenville, S.C., to RBM of Atlanta ("RBM").
The transaction, which included related real estate, closed Feb. 23 and involved Porsche of Greenville, Land Rover Greenville and Crown Nissan of Greenville. Asbury continues to own Toyota of Greenville and its collision center in the market.
Asbury's sale is another step in a broader portfolio management initiative.
"As we advance our long‑term growth strategy, we are continually assessing where each store best fits within our overall portfolio," said David Hult, Asbury president and CEO. "While the decision to sell these stores was difficult, it reflects a thoughtful and disciplined approach to optimizing our footprint. We are confident that RBM will support the continued success of these stores. Presidio's deep market and brand expertise helped us deliver the best value to our shareholders."
With the transaction, RBM is making its first expansion beyond metro-Atlanta, where it operates five dealerships representing Mercedes-Benz, Subaru and Infiniti.
"These dealerships are an excellent match for RBM's long‑term growth strategy," said David Ellis, president of RBM of Atlanta. "The Greenville market, so close to our home base, ideally complements our existing operations, as do the brands we are adding. We appreciate Presidio for its professionalism and well‑structured process that made this major expansion for our family smooth and manageable."
Ellis and his sister, Casey Frames, who represent the third generation of the Ellis family to lead RBM, have been seeking the right opportunity to grow beyond Atlanta and with a broader mix of brands.
"This transaction reflects the shared vision David and I have for RBM's next chapter," Frames said. "We were patient as we looked for the right opportunity to expand, and Greenville is the perfect fit for our family and company. These stores give us the chance to grow with brands we believe in and in a market that aligns with our culture and customer‑focused approach."
The sale of the Greenville stores builds on Presidio's long‑standing relationship with Asbury.
"We are honored that Asbury once again entrusted Presidio to advise on an important strategic decision," said Alex Watterson, Presidio managing director. "This is another example of disciplined portfolio management for this growing public dealership group. Presidio continues to see operators reassess how they deploy capital across markets and brands, with transactions like this allowing sellers to sharpen their focus while creating attractive growth plays for proven operators."
This is the second transaction in 2026 in which Presidio has advised Asbury, including Asbury's sale of six dealerships in St. Louis this month. Presidio also advised Asbury on the divestitures of two Toyota stores in 2025 and the sale of a Lexus store in 2024.
Presidio expects strong transaction volume in 2026 as clients expand, streamline or realign their footprints.
"The market continues to show strong demand for luxury dealerships, and this transaction is a clear example," said George Karolis, president of The Presidio Group. "Across the industry, the number of high-quality luxury stores coming to market lags well behind the pool of qualified buyers, which is why transactions like this attract strong interest. A respected operator like RBM completing its first major acquisition here underscores that dynamic. We expect a strong cadence of transactions to continue as buyers continue to compete for desirable stores that become available."
Daniel E. Johns, Kevin Sutton and Jill K. Bell of Hill Ward & Henderson, P.A., provided outside legal counsel to Asbury. Katherine Frazier, shareholder of Hill Ward & Henderson, P.A., provided legal counsel to Asbury on real estate matters.
Eric Gregory of Gregory Law LLC provided legal counsel to RBM.
The Presidio Group provided exclusive M&A advisory services to Asbury 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 RBM
RBM of Atlanta is a family-owned dealership group with deep roots in metro-Atlanta, having served the market for nearly six decades. RBM operates five dealerships in the market representing Mercedes-Benz, Subaru and Infiniti. RBM's success reflects its longstanding commitment to its customers, employees and automaker partners, as well as its focus on delivering exceptional guest experiences and investing in the communities it serves.
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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