Heritage Capital Group Facilitates Subaru of Jacksonville Acquisition by Shottenkirk Automotive

Heritage Capital Group Facilitates Subaru of Jacksonville Acquisition

In a significant development within the automotive sector, Heritage Capital Group, Inc. has successfully guided Subaru of Jacksonville (SOJAX) through its acquisition by Shottenkirk Automotive Group. This strategic move marks Shottenkirk's first foray into the Subaru brand and establishes a firm foothold in the Jacksonville market, with a commitment to uphold the legacy of the Porter family and their dedicated team at SOJAX.

Founded in August 2000 by Phil Porter Sr., Subaru of Jacksonville has, over the years, built a solid reputation as a trusted dealership, known for its customer-first approach. Under Porter’s 25 years of leadership, SOJAX has managed to cultivate a loyal customer base and has been recognized multiple times for its excellence in service and operational integrity. Notably, the dealership has consistently ranked #1 in Safety and Customer Satisfaction in both service and loyalty by the American Customer Satisfaction Index (ACSI) and J.D. Power.

Shottenkirk Automotive Group, a family-run business with roots extending over 60 years back to its inception in Illinois, began as a single dealership. The company has grown significantly under the leadership of its founder Bob Shottenkirk and his successor Greg Shottenkirk, who champions a customer-first philosophy that is deeply embedded in the company's culture. Today, Shottenkirk operates 29 locations across six states, offering a diverse range of automotive brands and services while maintaining a focus on quality and community involvement.

The acquisition comes as Heritage Capital Group builds on its previous success with Phil Porter Sr., advising him on the sale of Center Subaru to GMST, LLC in 2021. The relationship between Heritage and SOJAX was strengthened through tradition and shared values, ensuring that the transition was seamless. Phil Porter Sr. expressed his gratitude by stating, "It was a pleasure working with Heritage for a second time. They made the process seamless and straightforward. Mac Holley and his team understand the unique value of our business and guided us every step of the way."

Heritage Capital Group, acting as the exclusive sell-side advisor for SOJAX, showcased its expertise in negotiating and structuring the deal effectively while ensuring all stakeholders, including employees, customers, and the community, were taken into account during this significant transition. The deal team, which included notable members such as Mac Holley, Fernando Acosta-Rua, and Robert Cilek, handled the complexities involved in such a transaction with professionalism.

Although the exact financial arrangements of the acquisition have not been disclosed, the deal is expected to usher in a new era for Subaru of Jacksonville while continuing the high standards and legacy established by the Porter family.

As Heritage Capital Group continues to provide vital advisory services in the areas of mergers, acquisitions, and business valuations, the Subaru of Jacksonville acquisition stands as a testament to their proficiency in supporting middle-market and emerging growth companies both in the US and globally. The automotive industry now eagerly awaits the developments that will unfold as Shottenkirk Automotive integrates SOJAX into its expanding network.

This acquisition is not just a transaction; it marks a transformation in the Jacksonville automotive landscape, creating new opportunities while respecting the rich history of Subaru of Jacksonville. With a focus on quality service and community engagement, Shottenkirk is poised to enhance the dealership’s offerings and further its reputation in the Florida market.