Clay Carlock Acquires Gulf Coast Auto Group, 4 Dealerships in Alabama, from Roger Tovar
September 15, 2022
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Gulf Coast Auto Group from Roger Tovar to Clay Carlock. Gulf Coast Auto Group includes Porsche, Audi, Volkswagen, and Volvo dealerships in Mobile, Alabama.
In 2018, George Chaconas of Performance Brokerage Services assisted Roger Tovar in his acquisition of Gulf Coast Auto Group. Tovar immediately went to work constructing brand new state-of-the-art facilities, totaling 63,000 square feet on more than 9 acres. Although Tovar faced many challenges over his four years of ownership due to the pandemic, including inventory shortages and construction setbacks, he was still able to improve sales and build a good reputation in the community.
Tovar was approached by George Chaconas about an opportunity to sell, although he had no intention of selling the luxury group at that time. Ultimately, George was able to bring an offer from a buyer that was familiar in the area and presented the right opportunity.
After the sale, George Chaconas commented, “It was a pleasure and honor to help Roger Tovar sell his group of four dealerships to the Carlock Automotive Group. This is my fourth transaction with Roger, and I am thankful I was given the opportunity to assist him with deploying these resources for other ventures, and truly appreciate our friendship. I am also grateful to be able to help Carlock Automotive continue their growth in the Southeast. I wish Clay Carlock and Eric Shepherd much success and enjoyment in owning this dynamic group of franchises in a market they are very familiar with.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company consummated 72 transactions, marking a record-breaking year. George C. Chaconas, the exclusive advisor for this transaction and the Southeast Partner for Performance Brokerage Services commented, “If you are considering selling, or have neither a succession nor growth plan in place, now is the time to sell, as valuations are the highest they have been since the Great Recession.”
Carlock Automotive began as a family business in Arkansas more than 50 years ago. Grover “Clay” Carlock, Jr. grew up in the family business, and has cultivated the company’s current portfolio of 20 franchises. This acquisition marks the group’s 6th franchise in Alabama. Carlock Automotive credits their continued growth to successfully partnering with their local communities.
Following the sale, Carlock commented, “Our dealership group had been looking to grow with the addition of Eric Shepherd, VP, and my sons, so we reached out to long time professional automotive dealership broker, George Chaconas of Performance Brokerage Services. Fortunately, he sold Roger Tovar the Porsche, Audi, Volkswagen, and Volvo dealerships over 4 years ago, and confidentially asked Roger if he would consider selling. Once he raised his hand and said yes, with George’s help we negotiated a deal very quickly and closed shortly thereafter. We are very excited to add another Porsche, Volkswagen, and Volvo store, along with our first Audi franchise, to our auto group. Thank you very much George for making our deal happen with your vast experience and network of car guys. I would sincerely suggest you reach out to George and his team at Performance Brokerage Services when you are looking to grow!”
The dealerships will remain at their current locations on East Interstate 65 Service Road in Mobile, Alabama, and have been renamed Carlock Audi of Mobile, Carlock Porsche of Mobile, Carlock Volkswagen of Mobile, and Carlock Volvo of Mobile.
Roger Tovar was represented by Stephen Dietrich, Partner at Holland & Knight in Denver, Colorado; and also by Phil Villegas of Axiom Advisors in Miami, Florida.
Clay Carlock was represented by Jimmy Duckworth of Duckworth Law Firm, PLLC in Germantown, Tennessee.