M&A TRANSACTION · 2021
Larry H. Miller Dealerships and Total Care Auto acquired by Asbury Automotive Group
$3.20B· 8.9x EBITDA· 0.56x revenue
Target
Larry H. Miller Dealerships and Total Care Auto
Salt Lake City, UT
8th largest dealer group in US with 54 new vehicle dealerships, 7 used vehicle dealerships, 11 collision centers, used vehicle wholesale business, and F&I product provider
Acquirer
Asbury Automotive Group
Strategic buyer
Disclosed financials at time of acquisition
Revenue
$5700.0M
EBITDA
$360.0M
Deal Value
$3.20B
EV/EBITDA
8.9x
Context
This $3.20B acquisition of Larry H. Miller Dealerships and Total Care Auto by Asbury Automotive Group sits in the auto dealership sub-vertical. The 8.9x EBITDA multiple paid in 2021 can be compared against the population median for auto dealership transactions of similar size on our Auto Dealership valuation hub. Asbury Automotive Group is acquiring as a strategic buyer; see how strategic acquirers typically price auto dealership businesses on our Auto Dealership strategic buyer-pool page.
Source
Data sourced from Asbury Automotive Group Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology
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