Scaffidi Motors, Inc. sells its heavy truck business to Kriete Truck Centers
Learn how Baker Tilly Capital along with Baker Tilly US’s dealership practice identified a list of potential buyers they believed would be a good fit for Scaffidi Motors, Inc.
Client need
Sam Scaffidi Sr. founded Scaffidi Motors, Inc. (Scaffidi) in 1966, after acquiring a former car dealership. He expanded Scaffidi in 1972, by adding the Mack heavy truck franchise. When Sam passed away in 1989, his sons, Don and Sam Jr., assumed ownership of the Wisconsin-based company. Scaffidi continued to be a premier new and used auto dealer, heavy truck dealer and service provider. In 2017, Don bought out his brother Sam Jr. and became the sole shareholder. Recently, Don sought to sell the heavy truck dealership and associated real estate in order to transition out of that part of the business. Don had previously discussed dealership services with Baker Tilly US, LLP (Baker Tilly US), and reached out for assistance with the sale.
Baker Tilly Capital solution
Baker Tilly Capital, LLC (Baker Tilly Capital) and Baker Tilly US collaborated in the preparation of an information memorandum that provided a thorough overview of the Mack truck business and real estate. Baker Tilly Capital along with Baker Tilly US’s dealership practice identified a list of potential buyers they believed would be a good fit for Scaffidi and ran a full sell side process.
Results
Scaffidi found the right partner in Kriete Truck Centers (Kriete) and the transaction was closed in January 2021. Founded in 1951, Kriete is a third-generation, family-owned business in Wisconsin that has grown to be one of the largest Mack truck dealers in the world. The transaction allows Don to transition out of the business with the knowledge that his family’s legacy will continue with Kriete.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.
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