The Presidio Group LLC., an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, advised Asbury Automotive Group, Inc., on the sale of six Plaza Motors dealerships and a collision center in the St. Louis market to MileOne Autogroup.
The sale of the Plaza Motors businesses and their related real estate closed Feb. 23. The transaction involved Plaza Mercedes-Benz, Mercedes Benz of Chesterfield, Plaza BMW, Land Rover St. Louis, Audi Creve Coeur, Plaza Infiniti and Plaza Collision Center. MileOne will retain the well known Plaza name in the market.
For Asbury, the decision to sell the Plaza locations reflects a broader portfolio management initiative following a period of significant growth, including its 2025 acquisition of 33 dealerships from the Herb Chambers Companies.
“When we made the strategic decision to exit the St. Louis market, it was not a decision made lightly. We are confident that MileOne will be an outstanding steward of the Plaza platform for our team members, partners and guests,” said David Hult, Asbury president and CEO. “The Presidio team has been a trusted advisor of ours over many years, and we appreciated their partnership and guidance on this transaction.”
For MileOne, the acquisition provided an opportunity to enter a new region with immediate scale and a strong mix of luxury brands.
“Acquisitions with the kind of scale, brand mix and reputation that Plaza Motors offers are extremely rare,” said Steve Fader, CEO of MileOne Autogroup. “This transaction aligns perfectly with MileOne’s strategy of expanding our footprint with leading luxury brands in attractive markets, and we are honored to carry forward the Plaza name. Our relationships with both Asbury and The Presidio Group over the years give us great confidence in the success to come for MileOne in the St. Louis market.”
The transaction is emblematic of broader trends happening in the U.S. dealership market.
“The sale of the Plaza Motors platform is a textbook example of portfolio management in action,” said George Karolis, Presidio president. “Asbury has been a valued client of Presidio for many years, and this transaction highlights how leading groups are actively realigning their footprints to further their long-term objectives. We were honored to work alongside David Hult, Dan Clara and the entire Asbury team on this important transaction, and I’m thankful for our long-term relationship.”
