GLADSTONE, Ore., July 30 /PRNewswire/ -- MD Johnson, Inc. announces the execution of a definitive agreement between Mike Ralls and Ralph Martinez for the purchase of Ralls Honda and Nissan dealerships in suburban Gladstone Oregon. Martinez is expected to close on the acquisition of Gladstone Honda and Gladstone Nissan as well as all assets and the associated real estate owned by Ralls and the companies, in the 3rd quarter of 2010. No sales price was disclosed.
MD Johnson, Inc. a national investment advisory firm to the automobile industry was engaged to advise Ralls and his associated entities regarding the sale of the dealerships assets and properties. After interviewing numerous local and national dealership operators and consolidators, Martinez was selected as the most viable, qualified candidate to acquire the Ralls dealerships. Martinez, owner of the well established Town & Country Dealership Group, with locations in Milwaukie and Wilsonville Oregon, is expected to close and take over operations of the dealership in September and rename the dealership Town & Country Honda and Town & Country Nissan. Mark Johnson, President of MD Johnson, Inc. and advisor to Ralls commented that, "Mike Ralls and Ralph Martinez have a long relationship and have discussed a possible acquisition recently of Mike's stores as part of Mike's exit strategy from the day to day operations of a dealership." Ralls, who has an extensive career in the automobile business owning dealerships in the past in Western Washington as well as the dealerships in Gladstone purchased the dealerships from Asbury Automotive Group of Atlanta
Mike Ralls stated that, "the sale is a planned exit given my desire to spend more time at my home in Snoqualmie and to pursue opportunities outside of the automobile industry." Martinez' Town & Country platform includes , Chrysler Dodge and Jeep in Wilsonville and Chrysler, Jeep Chevrolet, Hyundai and Mitsubishi in Milwaukie. Martinez' Town & Country dealerships were voted as the # 1 " place to work in Oregon in 2003," and has been on the TOP 100 list many years thereafter. Ralls commented that, "our new state of the art 69000 square foot Honda facility has been well received by our extensive base of Honda customers and creates an atmosphere that is unmatched in the Pacific Northwest for enjoying the Honda ownership experience."
MD Johnson, Inc. is a merger's/ acquisitions financial advisory firm specializing in Advisory Services to automobile dealers, dealership management companies and dealership lawyers and CPA's. In addition to standard M and A services, the firm provides detailed Valuation, Succession, Strategic Planning and Transaction Management Services for its clients. The firm's clients include public and private groups and individual owners located throughout the U.S. Previous press releases are archived at WWW.MDJOHNSONINC.COM.
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SOURCE MD Johnson, Inc.