CERRITOS, Calif. — Dec. 19, 2025 — The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Hartz Automotive in the sale of its ownership interests in three dealerships in Southern California to Franchise Equity Partners.
The transaction closed Dec. 16 and involved Hartz Automotive’s stakes in Penske Buick-GMC of Cerritos and Penske Chevrolet of Cerritos, both in Cerritos, Calif., and Penske Cadillac-Buick-GMC of South Bay in Torrance, Calif. Hartz Automotive is led by Daisy Hartz, who inherited the business from her late husband, Phillip Hartz.
“After many years of dedication to these dealerships through our ownership partnership, this sale marks a bittersweet but important new chapter for my family and me,” said Daisy Hartz. “I am grateful for the expertise and support of The Presidio Group in guiding us through a complex process and helping us achieve a successful outcome. These stores are a meaningful part of my husband’s legacy, and I am proud of what we accomplished together.
“With the multiple stakeholders involved, selling a portion of a business is never as simple as selling the entire entity,” Hartz continued. “That was certainly the case with our dealerships. I’m not sure we would have found a suitor or gotten to the finish line of this transaction without Presidio’s help.”
For Franchise Equity Partners, the transaction marks its first automotive investment in California, lending valuable geographic diversification to its dealership portfolio, which already contained stores in New York, Pennsylvania, the Carolinas and Virginia. It also expands FEP’s presence in the Honda and Toyota retail networks.
“FEP’s partnership reflects our core strategy of supporting industry leading operators with permanent capital to simplify their ownership structure and position their organizations for future growth,” said Scott Romanoff, co-managing partner at FEP.
This transaction underscores the value a trusted advisory firm can bring to the often-complicated process of selling auto dealerships.
“We are honored to have represented Daisy Hartz in this transaction,” said Alex Watterson, managing director at The Presidio Group. “The sale of her interest in these prominent Southern California dealerships exemplifies her perseverance and dedication to finding the ideal outcome for all stakeholders.”
The closing of this transaction is a testament to Presidio’s experience in navigating complex, multi-party transactions.
“This transaction highlights the many opportunities present in today’s dealership M&A market. They aren’t all two-party deals where one business buys 100% of another, and numerous and unusual complexities can ensue. We are proud to have helped Daisy Hartz navigate a complicated process and deliver a positive result,” said George Karolis, president of The Presidio Group. “With transaction volume accelerating, we anticipate continued momentum and new opportunities for both buyers and sellers in the months ahead.”
Legal counsel to the seller was provided by Jeff Roberts of Underwood and Roberts. Legal counsel to the buyer was provided by Stephen Dietrich of Holland & Knight.
The Presidio Group provided exclusive M&A advisory services to Hartz Automotive through its wholly owned investment bank, Presidio Merchant Partners LLC.
About The Presidio Group LLC
The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed more than 295 transactions for nearly $20.0 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.
