Auto dealership titan Cecil Van Tuyl dies at age 85 Prosper, TX 75078, Latitude: 35.19123840332031Longitude: -106.6570816040039, 9901 Coors Road NW When purchasing a new car what considerations should you make? Scottsdale, AZ 85260-1002, Latitude: 33.634201049804695Longitude: -111.91310119628906, 16301 N. 78th Street Directions Since Buffetts interest in the car dealership industry has made stock prices of these companies go up significantly, we have used prices from last week before the deal was made public. We went to his Nashville home to find out. Arlington, TX 76017, Latitude: 32.677043914794915Longitude: -97.12245178222655, 1120 I-20 West Become a business insider. That puts it behind publicly traded auto dealers like AutoNation, which reported $17.5 billion in revenue, and the Penske Automotive Group, with $14.7 billion in revenue. Larry Van Tuyl back in dealership game - De.Yuan More than a third of Van Tuyls stores at least 29 are in the Dallas-Fort Worth area. 2022 Fortune Media IP Limited. Amidst the unsettling backdrop of a global health crisis, Kerrigan Advisors remains committed to serving dealers through todays challenging times. The group represented almost 30 brands. Directions He enjoyed time with his children, Paula and Larry, his five grandchildren and two great grandchildren. While the purchase price was not disclosed, the amount that Berkshire Hathaway will pay the Van Tuyl family, owners of the largest privately held car dealership group in the U.S., is safely enough to land the family among the billionaire set. Frisco, TX 75034, Latitude: 33.09106063842773Longitude: -96.82948303222658, 6600 State Highway 121 The Van Tuyl Group ownership structure is set up so that each individual dealership is its own legal entity in which the managers hold a minority stake described by Jeff Rachor, CEO-to-be of Berkshire Hathaway Automotive, as meaningful.Ranchor declined to comment on the division of ownership in the Van Tuyl Group, but according to Sandler a partnership likes this normally has the individual dealer or manager owning "single digits up to 20%.". Van Tuyl is on the verge of signing contracts for several other acquisitions, Scrivner said. Lincoln, NE 68521, Latitude: 37.1802864074707Longitude: -93.2236099243164, 3500 E Sunshine But we don't wait until a customer is on the lot to start making things easy. Conservatively calculated, using an 80% ownership of the Van Tuyl Group-connected dealerships, FORBES estimates that Berkshire Hathaway will pay at least $2.3 billion for the Van Tuyl's share in the dealerships that bears its name, making the Van Tuyl family billionaires. Lincoln, NE 68521, Latitude: 33.638023376464844Longitude: -112.25399017333984, 9167 W. Bell Road He told Automotive News that he had agreed to remain chairman for that time. Even after the sale to Berkshire Hathaway, Larry Van Tuyl continued to be involved in his familys business empire, which includes commercial real estate holdings and other companies such as candle businesses. In an interview, Larry Van Tuyl said that he first sought out an audience with Mr. Buffett around eight years ago to explore a potential sale of the business. Van Dealers Used Car Dealers Automobile Auctions (18) Website. Directions But Directions We welcome the chance to learn more about your acquisition criteria so that we can contact you in the event a client matches your investment profile. Directions The Van Tuyl Group also has a broader-than-usual array of businesses, including insurance and auto auctions in addition to retail sales. Cecil bought his first new-car dealership in 1955. Houston, TX 77065, Latitude: 37.97729873657226Longitude: -87.49530029296875, 4600 E Division St, Right before the Thanksgiving holidays, the auto industry received some sad news. Directions Directions At the time, the group was ranked by Automotive News as the fourth-largest U.S. dealership group based on new-vehicle retail sales in 2014. 5 on Auto Remarketing's Top 125 Used-Car Dealer Groups ranked by 2011 used retail sales, and was the highest-ranked private group on the list. Visit us today to see a variety of new & used cars by Chevrolet, Buick and GMC. Directions Springfield, MO 65809, Latitude: 33.63934326171876Longitude: -112.08375549316405, 701 W. Bell Road When the acquisition closes, the Van Tuyl Group - to be renamed Berkshire Hathaway Automotive - will continue to be led by Cecil Van Tuyl's son, Larry, and Jeff Rachor. The store was renamed, Easy Honda. Van Tuyl, based in Phoenix, Ariz., and headed by Larry Van Tuyl, 65, is a private company that owns majority stakes in 78 dealerships, most of them located in the Southwest and Midwest. They have some excellent operators now, Chapman said. He later added, Mr. The Van Tuyl family's stake in auto dealer Van Tuyl Group is worth an estimated $2.3 billion at least, according to Forbes. Phoenix, AZ 85014, Latitude: 30.194889068603512Longitude: -97.76827239990234, 6200 S I-35 Frontage Rd When the acquisition closes, the Van Tuyl Group to be renamed Berkshire Hathaway Automotive will continue to be led by Cecil Van Tuyls son, Larry, and Jeff Rachor. San Antonio, TX 78211, Latitude: 28.60526466369629Longitude: -81.39724731445312, 1050 Lee Road Springfield, MO 65809, Latitude: 33.50993347167969Longitude: -112.05289459228516, 1330 E. Camelback Road Surprise, AZ 85388, Latitude: 32.92776107788086Longitude: -97.09423828125, 1401 W State Hwy 114 Directions He expects to close on additional acquisitions this year, he said. I dont know if thats going to be 10 deals or 50 deals, Van Tuyl said. Phoenix, AZ 85014, Latitude: 33.50971984863281Longitude: -112.05059051513672, 1450 E Camelback Road And so were excited., He called Berkshire Hathaway fantastic and said it would continue to be fantastic.. President of the company, Dave Harrison, told FORBES that the Berkshire-Van Tuyl Group deal will not affect VanTrust. The terms of the Van Tuyl-Gillman transaction weren't disclosed. The planes are flown by Berkshire Hathaways (BRK.A) NetJets; the trains are run by its Burlington Northern Santa Fe; and today Buffetts company announced it has agreed to buy the fifth-largest owner of U.S. auto dealerships, Van Tuyl Group. Directions In October 2014, Warren Buffett's Berkshire Hathaway announced that it agreed to acquire the Van Tuyl Group, the country's largest privately held dealership group. Hes got a home in Arizona. Directions Now Mr. Buffett is adding the Van Tuyl Group, founded by Cecil Van Tuyl in 1955 as a single Chevrolet dealership in Kansas City, Kan. Sanford, FL 32771, Latitude: 28.793725967407234Longitude: -81.33981323242188, 1160 Rinehart Road Directions I fully expect well buy a lot more dealerships. We're conveniently located south of the 101 Freeway at the intersection of 7th Avenue and Bell Road. Home > In the News > Larry Van Tuyl buys dealerships in Texas and California, expanding holdings. The prominent California dealer and industry advocate started his group in 1979 and grew it to include Toyota, BMW, Ford, Hyundai and Volkswagen dealerships at various points. After the March 2015 sale of Van Tuyl Group of Phoenix, then the largest privately held dealership group in the U.S., to Berkshire Hathaway, Van Tuyl said he spent five years as chairman of Berkshire Hathaway Automotive. Get the latest headlines delivered to your inbox every weekday. Van Tuyl was an avid sportsman who loved hunting, fishing and the outdoors, officials shared. Directions He has a house in Texas. Van Tuyl Group dated to the 1940s, when founder Cecil Van Tuyl, Larrys father, started selling used cars in Kansas City, Mo. How many RadioShack stores are still open? The Van Tuyl Group was the fourth-largest U.S. dealership group as ranked by Automotive News based on retail sales of . The founder of the nations largest privately owned auto dealership group passed away on Tuesday, Nov. 20, in Kansas City, Mo. Directions Hes definitely excited to have them in the family, said Bill Scrivner, CEO of Pinnacle Mergers & Acquisitions, a Frisco, Texas, buy-sell firm that represented Van Tuyl in the Ferrari transactions. Directions Directions Van Tuyls most recent acquisition came when he bought Team Gillman Honda West last week from Chris Gillman. The company is headquartered in Kansas City, and has a portfolio ofoffice, industrial, multifamily, retail, institutional, governmental and hospitality real estate that spans five states. (775) 993-3600 | info@kerriganadvisors.com. Conservatively calculated, using an 80% ownership of the Van Tuyl Group-connected dealerships, FORBES estimates that Berkshire Hathaway will pay at least $2.3 billion for the Van Tuyls share in the dealerships that bears its name, making the Van Tuyl family billionaires. Billionaire investor Warren Buffett surprised many in the auto industry with the purchase Thursday of the giant Van Tuyl Group of car dealerships, which will be based in Dallas. Larry Van Tuyl said he is open to all brands this time around and to different geographic regions but noted he is most familiar with Arizona, Texas and Florida. The group represented nearly 30 brands. He said hes not looking to grow to a certain annual revenue target or dealership count, but just what feels right. The acquisitions follow Van Tuyls purchase of a Honda dealership last May in Houston. Mesa, AZ 85206, Latitude: 33.608604431152344Longitude: -112.42105865478514, 16825 W. Waddell Road He passed away in 2012 at. Phoenix, AZ 85014, Latitude: 33.55252456665038Longitude: -117.66979217529297, 28242 Marguerite Pkwy Even after the sale to Berkshire Hathaway, Larry Van Tuyl remained involved in his familys business empire, including owning commercial real estate and other businesses such as candle companies. Directions The Van Tuyl Group became the fifth-largest car dealership group in the U.S, with 78 dealerships selling 240,000 vehicles per year. His firm reached out to Gillman to ask whether hed consider selling one of them. planes and trains, so why not a car dealership as well? Directions That puts it behind publicly traded auto dealers like AutoNation, which reported $17.5 billion in revenue, and the Penske Automotive Group, with $14.7 billion in revenue. You cant create a new railroad, and if you come up with some better way of doing things, a new competitor cant come along and emulate you.. Although Van Tuyl officials declined to comment, other dealers said the stores are more customer-friendly these days. The two have known each other for nearly three decades, Scrivner said, and have done probably 50 deals together. I was really not surprised by this.. Van Tuyl said he expects to employ 600 to 700 people at the dealerships by the end of the 2022. New & Used Chevrolet, Buick & GMC Cars, Trucks & SUVs in Van Wert, OH Directions Alan Mulally, Ford's president and chief executive officer, also expressed his condolences: "Our thoughts and prayers are with the Van Tuyl family. Springfield, MO 65802, Latitude: 37.18029022216797Longitude: -93.22345733642577, Latitude: 32.965900421142585Longitude: -96.72280120849611, 1321 N Central Expy Directions And Van Tuyl is on the hunt for more dealerships. Please refine the search and try again. Lenders also end up carrying the receivables that result from automobile sales. Van Tuyl, through his Visionary Automotive Group, on Jan. 19 bought Ferrari of Houston and Ferrari of The Woodlands, both in Texas, from Giuseppe Risi. McKinney, TX 75069, Latitude: 29.315988540649418Longitude: -98.61243438720703, 10703 SW Loop 410 Warren E. Buffett already owns Cecil Van Tuyl founded the company in 1955 when he opened his first Chevrolet dealership in Kansas City, Mo. Buffett allows you to run the business the way you always have been.. He now owns eight after buying four this year. Directions Now showing page 1 of 1. Van Tuyl was know to say: "The better people you surround yourself with, the better you are going to do for yourself and for your consumers.". Warren Buffett. Moreover, since the bankruptcies of General Motors and the Chrysler Group, hundreds of new car dealerships have left the business or been forced out. Larry van Tuyl is also a real estate investor through his VanTrust Real Estate. Buffetts Berkshire Hathaway Inc. already has a presence in Dallas-Fort Worth with subsidiaries BNSF, Justin Brands and Acme Brick Co. Its also opening a huge Nebraska Furniture Mart in The Colony this spring. Albuquerque, NM 87114, Latitude: 37.14830017089844Longitude: -93.2958984375, 3655 S Campbell Scottsdale, AZ 85260, Latitude: 33.63825988769532Longitude: -112.23380279541016, 8310 W. 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