Oct 11, 2024
Fairfax, VA – Open Road Capital is pleased to announce the acquisition of Beyer Auto Group. Beyer was established in 1973 in Falls Church, VA by Don Beyer, Sr., eventually expanding throughout Northern Virginia. Don Beyer Jr. and Mike Beyer bought the group in 1986 from their father. In 2019, Mike acquired his brother Don’s interest to become the sole owner of the dealerships while Don and family retained an interest in the real estate. The transaction includes Beyer Volvo of Falls Church, Beyer Volvo of Dulles, Beyer Kia of Falls Church, Land Rover of Alexandria, and Beyer Subaru of Alexandria.
This transaction rounds out 17 acquisitions by Open Road this year, bringing its total number of auto dealership investments to 43, diversely located in seven states from Mississippi to California. In keeping with Open Road’s business model, the current management team will continue to operate the dealerships which retail over 7,000 vehicles and generate approximately $400M of revenue annually.
Tim Batchelor, Co-Founder and Managing Director of Open Road Capital thanked Mike Beyer: “Through decades of service to customers and the community, Beyer Auto became part of the fabric of Northern Virginia. We are grateful that Mike chose to entrust us with protecting and furthering his family legacy.”
Eric Chelline, Co-Founder and Managing Director of Open Road Capital expressed his excitement about expanding into Northern Virginia through Beyer: "The Beyer Automotive Group has a stellar reputation in this market, and we are thrilled to continue to support its customers and employees. This acquisition is a great opportunity for Open Road Capital to expand our footprint in one of the most dynamic regions in the country. We look forward to working with the entire team to continue delivering exceptional service to the community."
Mike Toth and Alan Haig of Haig Partners represented the seller, Mike Beyer, in the transaction, with Stephen Dietrich of Holland and Knight providing legal counsel to the seller. Crowe provided closing assistance, while legal counsel was led by David Blum of Akerman LLP for Open Road Capital.
For more information, please contact:
Tony Taylor
Director of Business Development
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About Open Road Capital
Open Road Capital is a leading investment firm specializing in the automotive sector, committed to growth through strategic acquisitions and partnerships. Our portfolio includes a diverse range of automotive dealerships and luxury car boutiques.