Asbury in Talks to Acquire Jim Koons – An Analysis

Asbury in Talks to Acquire Jim Koons – An Analysis

September 7, 2023 — This week, the Asbury Automotive Group filed an 8-K with the SEC, alerting the market it is talking to the Jim Koons Automotive Companies about purchasing its 21 dealerships.  (UPDATE: Asbury announced it is acquiring Koons — Read more Here.) The filing most likely was precipitated by the news leaking out… Continue Reading

Cliff Banks - The Banks Report

TradePending, With Investor Capstreet, Acquires Snapcell

August 15, 2023 — Since a recapitalization investment from the Houston-based Capstreet Group in 2021, TradePending has acquired two companies — AutoAPR in 2022, and Snapcell, a transaction announced this week. Snapcell, a SaaS automotive video marketing platform, was founded by Brent Williams in 2018 in the U.K. Its U.S. headquarters are in Tampa. It… Continue Reading

Cliff Banks - The Banks Report

Reynolds and Reynolds Adds 4th Company in 2023

July 20, 2023 — On a blistering acquisition pace this year, The Reynolds and Reynolds Company announced its fourth purchase since January, picking up Xzilon, an Oregon-based vehicle protection and appearance solution provider. Xzilon, founded in 2003, offers F&I products that protect and enhance the exteriors and interiors of vehicles, boats, RVs, and motorcycles. Kevin… Continue Reading

JM Family Leads Capital Raise in Skaivision

JM Family Leads Capital Raise in Skaivision

July 18, 2023 — JM Family Enterprises Inc. is taking the lead in a new growth funding round for Skaivision, a computer vision artificial intelligence solutions provider for automotive dealerships.  Mark Queen, Skaivision founder and CEO, unveiled the concept at the AUTOVATE conference in December 2021. Since then, he raised a seed round, including investment from dealers, developed the software,… Continue Reading

Get Ready to Rumble — UAW Negotiations with the Detroit 3 Begin This Week

Get Ready to Rumble — UAW Negotiations with the Detroit 3 Begin This Week

July 10, 2023 — Dealers selling one or more of the Big Three domestic automotive brands may want to mark September 14, 2023, on their calendars.  At midnight on September 14, the current contracts between the United Auto Workers Union and Ford Motor Co., General Motors, and Stellantis will expire, resulting in what likely will… Continue Reading