Martin Management Group recently acquired its third auto dealership in four months — including the local Evans Arena Chrysler Dodge Jeep Ram, the dealership said in a summary of recent activity.
The three acquisitions are Arena Chrysler Dodge Jeep Ram locally, as well as Volkswagen dealerships in San Bernadino, California and Morgantown, West Virginia.
The company spent $30 million total on the acquisitions
Jim Evans sold the Harrison Twp. auto store real estate for $7.25 million to Martin Management, which already owned three other Dayton-area auto stores — Subaru of Dayton, Kia of Beavercreek and Kia of Dayton.
The family and Black-owned auto dealership group has nearly 20 dealerships and service centers nationally.
The company traces its origins to 1985 after founder Cornelius Martin purchased an Oldsmobile-Cadillac dealership.
Today, the Bowling Green, Kentucky-based business has $76 million in annual revenue with nearly 450 employees nationwide. Martin’s son, Chad Martin, serves as president, and Cornelius Martin’s widow, Gail Martin, serves as chief executive.
“With three acquisitions in the latter half of 2022, this has been the fastest pace of acquisitions in company history,” Chad Martin said. “This growth is truly a testament to hard work and our commitment to meet the needs of our customers, employees, communities, and suppliers. I also hope this acquisition serves as a reminder of my family’s continued commitment to the industry and our family business.”
Martin Management said it expects an additional $70 million in revenue from the acquisitions.
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