This week, the Sewell automotive companies’ footprint in the Lone Star State grew even larger thanks to the involvement of the Presidio Group.

According to a press release from the investment bank specializing in retail automotive and related M&A transactions, Park Place Dealerships has completed the sale of Jaguar North Austin and Land Rover North Austin in Austin, TX to Sewell Automotive.

“We admire the Park Place organization and are proud to share many of the same core values, including our concern for our customers, employees and communities,” said Sewell President and CEO Carl Sewell.

“We have served Texans for over 100 years and are grateful for this incredible opportunity to now serve Austin and add the Jaguar and Land Rover brands to our portfolio of exceptional franchise partners,” Sewell continued.

This transaction is the second involving Park Place this month as the organization revised the terms of a move involving Asbury Automotive Group. Ken Schnitzer, President of Park Place Dealerships, described how this deal with Sewell came to fruition.

“The Sewell family are known to operate their dealerships at the highest level. I have no doubts that they will continue to take care of the customers and employees of our Austin JLR business, ”said Schnitzer.

“The expertise of the Presidio Group has been essential in helping us find the best buyer and execute this transaction amid the major disruption caused by COVID-19,” he added.

The management of the Presidio group added these perspectives.

Founder and CEO Brodie Cobb said, “We have worked with Ken Schnitzer for many years and are honored to be working with him on this transaction.

President George Karolis added, “Park Place Dealerships and Sewell Automotive Companies are both iconic Texas family-owned dealer groups renowned for their customer service. “

The Presidio Group provided exclusive M&A advisory services to Park Place through its wholly-owned investment bank, Presidio Merchant Partners.