WAPPINGERS FALLS, N.Y.–(BUSINESS WIRE)–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 Chris Turner on the sale of Mid-Hudson Subaru in Wappingers Falls, N.Y., to VIP Automotive Group.
The transaction was finalized Sept. 4 and included all dealership real estate.
“It has been a privilege to serve the Wappingers Falls community for many years. I am confident that Joel Sporn and VIP Automotive Group will continue to provide outstanding service to our customers and a rewarding workplace for our employees,” Turner said. “I can’t thank the Presidio team enough for their strategic advice leading up to this divestiture and their stellar guidance through the transaction process.”
VIP Automotive Group, which had operated eight dealership locations on Long Island and in New Jersey, adds its third Subaru store with the transaction. VIP plans to expand Mid-Hudson Subaru’s service shop and parking capacity.
“We are excited to welcome Mid-Hudson Subaru to the VIP Automotive family and to expand our already strong ties to the top-notch Subaru brand,” VIP owner Joel Sporn said. “Our team looks forward to building on the dealership’s strong reputation and investing in the facility to better serve our customers and the community. This transaction went smoothly thanks to the professionalism and deep expertise of The Presidio Group.”
The Mid-Hudson Subaru sale is the third transaction involving a Subaru dealership facilitated by Presidio this year. The brand is among the industry’s most desirable, according to the Presidio Dealer Direction Survey.
“With the brand’s new-vehicle sales soaring over the last decade, demand is high among buyers for Subaru dealerships,” said Alex Watterson, managing director at The Presidio Group. “Our team was honored to advise Chris Turner on this transaction and help him find the best possible buyer for Mid-Hudson Subaru.”
Since the first quarter of 2025, the dealership M&A market has demonstrated renewed momentum. The Presidio Group’s pipeline of deals is deeper than ever before, said George Karolis, president of the firm.
“Presidio is seeing a record number of engagements, and I’m fielding calls on a near-daily basis from dealers who are considering an exit or reevaluating their portfolios,” Karolis said. “All signs point to continued robust activity in the buy-sell market for the remainder of the year and into 2026.”
Legal counsel to the seller was provided by Holland & Knight, Zarwin Baum and Faegre Drinker Biddle & Reath LLP. Legal counsel to the buyer was provided by Fox Rothschild.
The Presidio Group provided exclusive M&A advisory services to Chris Turner 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 290 transactions for over $19 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.
Contacts
George Karolis
(678) 831-5520
[email protected]
Lauren Pfohl
(404) 434-1837
[email protected]
