The Walters family has officially passed the torch of Bob Mayberry Hyundai in Monroe, N.C., to Pablo River Partners, marking the end of their long-standing involvement in the automotive retail business. The sale, which was finalized on March 5, was exclusively advised by The Presidio Group LLC, an independent merchant banking firm with expertise in mergers and acquisitions in the automotive retail and consumer mobility sectors.
This transaction brings a new chapter for the dealership, which has been an integral part of the Monroe community for decades. Ingram and Missy Walters, who have spent much of their lives building the dealership and serving their local area, felt it was time to transition leadership to a new owner who shared their values.
According to the Presido Group’s press release, “After dedicating much of our lives to building this dealership and serving the Monroe community, Missy and I felt it was the right time to transition the business to new leadership,” Ingram Walters said. “With the help of Presidio and its deep industry connections, we found the perfect buyer in Pablo River Partners, which shares our commitment to the Hyundai brand and the local area. We know Charlie will be a terrific steward of the business we’ve built and will continue the dealership’s legacy of excellence.”
Pablo River Partners, based in Jacksonville, Fla., is led by Chairman and CEO Charlie Tomm, who is returning to the retail automotive space. Tomm brings decades of experience, having previously served as CEO of several prominent automotive companies, including Ford of Clermont, Brumos Automotive, and Asbury Automotive Group. He expressed enthusiasm about the acquisition and the opportunity to build on the Walters family’s strong foundation.
“Ingram and I immediately hit it off, and I was impressed by the Walters family’s dedication to the Monroe community,” said Tomm. “Our plans include investing in the facility and maintaining the talented team in place, ensuring the dealership’s continued success.”
The sale also included the dealership’s real estate, which comprises approximately 28,000 square feet of facilities situated on 10 acres of land. Presidio’s guidance and industry connections helped the Walters family achieve a smooth transition, ensuring that their legacy would live on under the stewardship of Pablo River Partners.
George Karolis, president of Presidio, noted that finding the right buyer was crucial. “It was important for the Walters Family to find a buyer who shared their values and commitment to both the Hyundai brand and the Monroe community,” he said. “Pablo River Partners was just the match, and that Presidio’s expertise helped maximize the value of the deals for both parties.”
Jeff Roberts and Emily Dillow of Underwood & Roberts PLLC provided legal counsel for the Walters family, while Stephen Dietrich and Kyle Gaughan of Holland & Knight LLP represented Pablo River Partners.
This deal reflects the ongoing strength of the dealership M&A market, with Presidio’s deal pipeline continuing to expand and a strong outlook for transactions in 2025.
