Spartan Auto Group has sold its Spartan Toyota, Wolverine Toyota and Lexus of Ann Arbor to Germain Automotive Partnership and has sold its Lexus of Lansing store to Serra Automotive.
The transactions were announced by Kerrigan Advisors, which represented Spartan Auto Group and the Criscuolo family.
“It was our honor to work with the Criscuolo family on this generational transaction,” Kerrigan Advisors managing director Ryan Kerrigan, said in a news release. “The Criscuolos have been prominent representatives for Toyota and Lexus in Michigan since the 1980s and were visionary partners for these OEMs in the Upper Midwest.”
“Rosario Criscuolo will forever be remembered as a pioneer in automotive retail in the state of Michigan. These transactions further confirm the depth of interest amongst growing dealer groups for adding Toyota and Lexus dealerships to their portfolios.”
Co-owner Derek Criscuolo said: “Our father taught us to focus on relationships. His credo was ‘relationships, not salesmanship.’ That’s what made doing business at our dealerships such a special and memorable experience.
“We are grateful to have experienced such a positive working relationship with Kerrigan Advisors, whose comprehensive, focused and sensitive approach throughout the process ensured that all our family’s goals and objectives were met.”
Co-owner Deanna Criscuolo added: “Our father created a small town feeling in all of our stores, and that was true even in dealerships that served larger cities like Lansing. That family feeling of comfort and belonging is his legacy, and we’re grateful that with Kerrigan Advisors’ support through every phase of the transaction process — from sale preparation and marketing to negotiations and closing — that legacy will be successfully passed on to Germain and Serra, both highly regarded Midwest dealership groups.”
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