Broadway Automotive operated two primary business units - automotive dealerships and Hertz Rental Car franchises. The client made a key financial decision to grow both business units through acquisition. This client wanted the acquisition to fit its management style as well as fulfill both financial and geographic necessities.
The strategy was to ensure the client that Wipfli would assist in every step of the acquisition process. The team took the client's requirements and challenged them with additional influencers to further narrow their scope. Over the following months, the Wipfli auto merger and acquisition team worked diligently to provide a winning seller. Wipfli was able to present to the client a list of several businesses and franchises that Wipfli felt fit the client's needs and were available for purchase. This allowed the client to narrow the list down to one business. Over the following months, Wipfli assisted the client in reviewing its business plan, financial projects, and balance sheet and provided feedback that saved the client hundreds of thousands of dollars as each acquisition was finalized.
The Wipfli auto dealership team of experts was able to assist the client in the addition of three business units to the client's family of businesses, ensuring a smooth transition for each. Wipfli continues to assist the dealership with improving operations, performance, and growth.