National Business Brokers is pleased to announce the sale of McGavock Nissan of Rockwall, Texas, and McGavock Nissan of San Marcos, Texas, from Steve and Brent McGavock to the Cavender Auto Group.
McGavock Nissan of Rockwall and San Marcos were fairly new acquisitions for the McGavocks. Although they’ve enjoyed a long-standing reputation as impeccable dealers in West Texas with multiple Nissan stores, their dealerships in Dallas and San Marcos have been more recent operations for them, 2020 and 2019, respectively.
Brent McGavock, co-owner and dealer principal, said that the market price for their stores is what convinced them it was a good time to sell. “Drew Bray and Chris Teape brought expertise and a real hands-on approach to every detail in this deal. They showed first class leadership.“
The Cavender Family has been selling and servicing automobiles and trucks in San Antonio and South Texas for more than 80 years. By the mid 1980s the third generation of Cavenders entered the automobile business. Today the Cavender name is associated with nine separate dealership facilities selling Audi, Buick, Cadillac, Chevrolet, GMC, Land Rover, Pontiac, Saturn, Scion, Suzuki, and Toyota brands.
“The Cavender family has a slogan: ‘Where the name Cavender is on the door, there is a Cavender on the floor.’ And it certainly applies today. Each Cavender acts as not only the dealer, but general manager, and is always available to meet with customers and employees. When you buy from a Cavender dealership you are treated like family,” said Drew Bray, NBB’s vice president for the Midsouth region.
Rob Cavender, Vice President of Cavender Auto Group, said they are happy to have the opportunity to expand into a new OEM and new markets. “Both of these stores had been through numerous ownership groups in a short period of time, and we are looking forward to stabilizing the ownership,” he said. “We plan to hold these acquisitions as long-term plays and put them both on a new trajectory.”
The Cavenders were grateful to the leadership of NBB Brokers Drew Bray and Chris Teape for seeing the deal through to a successful close. “Drew and Chris were extremely professional and easy to work with throughout this transaction. They were advocates for our best interest and were available any given moment to ensure we got proper answers. There were certainly some hurdles to jump through but the NBB team made it all easy enough to navigate.”
The dealerships will be named Cavender Nissan of Rockwall and San Marcos, and will remain in their current locations.
“It’s one of our distinct pleasures to help an existing long-standing, family-run business exit the market with dignity and satisfaction, while creating room for another reputable family business to expand their footprint in the region,” said Bray. “We wish the McGavocks continued success in their remaining dealerships and we anticipate great achievements for the Cavenders in the coming months and years at their new Dallas and San Marcos operations.”
About National Business Brokers
National Business Brokers has been helping new car dealers buy and sell their stores for 43 years. With five regional offices across the country, NBB has national coverage and local familiarity. NBB has successfully closed over 850 transactions in the auto industry, more than any other M&A firm in the industry.
With offices in California, Texas, Michigan, New Jersey and Florida, NBB represents sellers throughout the United States, and buyers from around the world. Clients rely on NBB for confidentiality, expert counsel, and a deep network of relationships that enables us to connect the right buyers and sellers for the best opportunities.
NBB is headquartered in Irvine, CA. For more information visit www.nationalbusinessbrokers.com or call 800-576-9875.
