Redcap&Truss acted as exclusive financial advisor to Foundation Automotive Corp. (“Foundation Auto”) on the acquisition of Motorcars Honda (“Motorcars Honda”).
Foundation Auto is a newly formed company focused on acquiring automotive dealerships across North America. Motorcars Honda, located in Cleveland Heights, Ohio, comprises of a single Honda dealership and is Foundation Auto’s first acquisition in Ohio and its eighth dealership acquisition in the past 12 months.
Redcap&Truss acted as a financial advisor to Foundation Auto and facilitated a transaction by:
- Analysing Motorcars Honda’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 Motorcars Honda’s advisors
Negotiating the final LOI (letter of intent) and PSA (share purchase and sale agreement) with Motorcars Honda
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