Haig Partners Serves as Exclusive Advisor on the Sale of Advantage Toyota and Ball Toyota to Victory Automotive Group
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec 2, 2024--
Haig Partners LLC, a leading buy-sell advisory firm to auto, heavy truck, and RV dealers in the US, served as the exclusive sell-side advisor to the owners of Advantage Toyota and Ball Toyota on their sale to Victory Automotive Group (“Victory”). Advantage Toyota, now called Victory Toyota of Barboursville, was owned by Shawn Ball and his brother David. Ball Toyota, now called Victory Toyota of Charleston, was owned by Shawn Ball. Victory is led by Jeff Cappo and sons Eric Cappo and Mike Cappo. Victory is based in Canton, MI.
Advantage Toyota has long sold more new vehicles than any other dealership in West Virginia, with more than 2,000 units sold over the past twelve months. It is also among the highest-volume dealerships in the Central Atlantic Toyota Region. The stores combined operated on approximately 15 acres with 97,500 square feet of showroom, service, and storage space.
Shawn and David Ball prove that the American Dream is alive and well in auto retail. Shawn began his career working for a used vehicle wholesaler, washing and transporting vehicles. His father encouraged him to choose a safe career and arranged an interview for Shawn with the US Postal Service. However, Shawn decided to go into the used vehicle wholesale business for himself, eventually building a significant company serving dozens of dealerships around the state. Shawn lived modestly, saving all his money, which he then invested in L&S Toyota, a small store at the time. Shawn built that dealership into a highly profitable operation, which then funded the purchase of another dealership, Advantage Toyota. By then, Shawn’s older brother David had entered the auto retail industry after spending over a decade in the coal mines of WV. David took an ownership position in the Advantage Toyota dealership and helped to build it into the highest-volume dealership in the area. After seeing their success, Toyota asked Shawn to acquire Toyota of Charleston, WV, which was struggling at the time. David Ball is now retired. Shawn Ball remains the owner of L&S Toyota, which he intends to retain for the next generation in his family.
Shawn Ball said, “I’m happy for my brother who can now enjoy his retirement, and I’m happy for myself since now I can spend more time with my family and other interests, such as supporting Marshall University and focusing on my farm. And I feel fortunate that I get to remain in the Toyota family since we still own one Toyota dealership which we are keeping for the next generation. When I began to think about selling the dealerships, I researched Haig Partners. I liked what I saw about them and later learned that they have an excellent reputation in the Toyota dealer community. It is well earned. They knew how to describe our dealerships and led a sales process that brought us an impressive buyer. Selling dealerships is not easy, and I’d like to thank Alan Haig, Derek Garber and Erik Haig for guiding us to an outcome that we are all happy with. Finally, I’d like to congratulate the Cappo family at Victory Automotive. They have a very talented team here, and I know they will do well with these stores.”
Victory Automotive Group ranked #19 on Automotive News Top 150 dealership group list for 2023, with $2.3B in revenue from the sale of approximately 50,000 new and used vehicles. With the purchase of Victory Toyota of Barboursville and Victory Toyota of Charleston, Victory now owns 55 dealerships in eleven states. Jeff Cappo said, “We are excited to be purchasing two more Toyota dealerships, a brand offering customers many quality vehicles that provide excellent value to our customers. These dealerships are a good fit with our strategy of growing with leading brands across the US.”
Alan Haig, President of Haig Partners, shared, “We were proud to help Shawn and David Ball accomplish their objectives. They have an inspiring story, and it was fun for us to play a part in it. We want other aspiring dealers to hear about this success so they can work to achieve their own dreams in our amazing, albeit challenging, industry. And we congratulate the Cappo family and their Victory Automotive Group for this acquisition of two more Toyota dealerships to add to the Weiss Toyota dealership that we sold them just last month. Dealership buyers seek Toyota stores all over the country thanks to their high profits and diversified business model. Our team has advised on the sale of six Toyota dealerships just this year. Blue sky values for Toyota dealerships have held up better than most other franchises since profits at Toyota stores have barely budged since 2023.”
The team at Haig Partners has been involved in the purchase or sale of 39 Toyota stores nationwide and 90 dealerships in the Mid-Atlantic region of the US. We are on track to sell around 60 dealerships in 2024, which would be our best year that includes setting records with the highest prices paid on many franchises, but also, our 10th anniversary as trusted buy-sell advisors to dealership owners nationwide. These milestones are about more than numbers—they reflect our unwavering commitment to the people behind the deals. We understand that selling a business isn’t just a transaction. It is the culmination of years of dedication, vision, and hard work. We invest our collective experience and deep industry knowledge to deliver on our promise of maximizing value. Behind every successful transaction is immense effort ensuring our clients achieve the outcomes they deserve. It’s a responsibility we take seriously. It’s a privilege to honor their life’s work.
If you are interested in learning more about the sale or would like to have a confidential conversation about your dealership(s), contact Alan Haig at alan@haigpartners.com or at (954) 646-8921.
About Haig Partners
Haig Partners is a leading buy-sell advisory firm that helps owners of higher-value auto, truck, RV, and motorsports dealerships maximize the value of their businesses when they are ready to sell. The team at Haig Partners has advised on the purchase or sale of 605 dealerships with a total value of over $11.9 billion. It has represented 28 dealership groups that qualify for the Top 150 Dealership Groups list published by Automotive News, more than any other firm. Clients of Haig Partners benefit from the group's collective experience as previous executives with leading companies such as Ally Financial, AutoNation, Bank of America, Credit Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Companies and Toyota Financial Services. Leveraging its unmatched expertise and extensive relationships, Haig Partners guides clients to successful outcomes through a confidential and customized sales process. The firm authors The Haig Report®, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and co-authors NADA’s Guide, “Buying and Selling a Dealership.” Haig Partners team members are frequent speakers at industry conferences and are regularly quoted in leading media outlets, including Reuters, Forbes, The Wall Street Journal, The New York Times, CNBC, BBC, Automotive News, Wards, CarDealershipGuy and CBT News. For more information, visit www.haigpartners.com.
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CONTACT: Transaction Contacts:
Alan Haig
Founder and President
Haig Partners
alan@haigpartners.com
(954) 646-8921Media Contact:
Aimee Allen
Chief Growth Officer
Haig Partners
aimee@haigpartners.com
(603) 933-2194
KEYWORD: WEST VIRGINIA FLORIDA MICHIGAN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FINANCE AUTOMOTIVE CONSULTING OTHER AUTOMOTIVE PROFESSIONAL SERVICES AUTOMOTIVE MANUFACTURING GENERAL AUTOMOTIVE MANUFACTURING
SOURCE: Haig Partners LLC
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