Redcap&Truss acted as financial advisor to Foundation Automotive Corp. (“Foundation Auto”) on the acquisition of the Freestone Auto Group (“Freestone”). As part of this transaction, Redcap&Truss negotiated the acquisition of Service Truck Depot (“Service Truck Depot”) which specializes in commercial truck customization including hydraulic tanks, spring systems, pumps, compressors, filtration systems, and welders.
Foundation Auto is one of the fastest growing automotive dealership groups across North America. Freestone, located in Fairfield Texas, comprises three dealerships that represent the Chevrolet, Ford, Chrysler Dodge Jeep Ram brands.
Redcap&Truss acted as a financial advisor to Foundation Auto and facilitated a transaction by:
- Analyzing Freestone’s financial statements, asset list and its service offering (both historical and future) and developing an initial estimate of value
- Quarterbacking all due diligence and documentation communications required between Foundation Auto’s advisors, accountants and lawyers and Freestone’s advisors
- Advising on the LOI (letter of intent) and PSA (share purchase and sale agreement) with Freestone
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