Scaffidi Motors, Inc. sells its auto dealership and service center to The Rydell Company
Learn how Baker Tilly Capital and Baker Tilly U.S. collaborated to find Scaffidi Motors, Inc. a list of potential buyers.
Client need
Sam Scaffidi Sr. founded Scaffidi Motors, Inc. (Scaffidi) in 1966, after acquiring the Stevens Point Buick and GMC franchises. He eventually swapped the Buick franchise for Ford, Lincoln and Mercury (discontinued in 2010) franchises. In 2008, Scaffidi added a Hyundai franchise and exchanged the GMC franchise for Volkswagen, diversifying the dealership with strong domestic and foreign franchises. When Sam passed away in 1989, his sons, Don and Sam Jr., assumed ownership. Scaffidi continued to be a premier new and used auto dealer, as well as a heavy truck dealer/service provider, and in 2017, Don bought out his brother Sam Jr. and became the sole shareholder. Scaffidi added a state-of-the-art collision center in 2020. Recently, Don sought to sell the auto dealership and body shop/collision center so that he could retire. Don was familiar with Baker Tilly US, LLP (Baker Tilly US), and when he was ready to sell, he reached out for assistance.
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 auto dealership and body shop/collision center. 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 The Rydell Company (Rydell) and the transaction was closed in February 2021. The transaction allows Don to transition out of the business with the knowledge that his family’s legacy will continue with Rydell.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.
