The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Patriot Automotive Group owner Adam Arens on the sale of a New Hampshire Nissan dealership to brothers James and Erik Kirste.

The sale of Patriot Nissan of Salem, N.H., and its related real estate closed June 2. Arens continues to operate Subaru and Acura stores in Maine and Massachusetts.

"When it came time to sell Patriot Nissan, there was only one advisor I'd ever consider turning to for advice and assistance: The Presidio Group,” Arens said. “I've known Presidio President George Karolis for more than 25 years, and his team’s deep expertise and unwavering commitment guided me as I assessed this dealership’s fit within my portfolio.”

The Kirste brothers previously operated a Ford dealership in Vermont.

“The acquisition of the Nissan store in Salem is a strategic investment for my family, and we greatly appreciate the professionalism and efficiency that Patriot Automotive and The Presidio Group brought to the table,” James Kirste said. “We look forward to serving the Salem community and working with the talented staff at the dealership.”

For Presidio, the Patriot Nissan transaction was one of five deal closings the firm was involved with in June.

“We were honored to represent Patriot Automotive Group in the sale of its Nissan store,” said Alex Watterson, managing director of The Presidio Group. “Closing five transactions in June alone shows that deal pace in the market is picking up.”

“Our long-standing relationship with Adam Arens exemplifies the trust that Presidio regularly builds with its clients,” Karolis said. “Our M&A team is here to advise dealers on effectively managing their dealership holdings and ensuring their store footprints align perfectly with their strategic long-term goals.”

Robert Macdonald Jr. of Bernstein Shur provided legal counsel to Patriot. Scott Ellison of Sheehan Phinney Bass + Green PA provided legal counsel to the Kirstes.

The Presidio Group provided exclusive M&A advisory services to Patriot through its wholly owned investment bank, Presidio Merchant Partners LLC.

About Patriot Automotive Group

Patriot Automotive Group operates Patriot Subaru of Saco, Maine; Patriot Subaru of North Attleboro, Mass.; and Patriot Acura of Scarborough, Maine. The group's stores have consistently earned top honors from Subaru of America, including the Chairman’s Award. Patriot’s Subaru dealerships have also been among Automotive News’ Best Dealerships To Work For several times since 2012. The group’s Subaru store in Maine store was recognized by the Best Companies To Work For in Maine program for seven consecutive years. Patriot is dedicated to being a green, environmentally friendly business and has earned an Energy Star Small Business Award and Cox Automotive Sustainability Award for those efforts.

About The Presidio Group LLC

The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed more than 290 transactions for over $19 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.

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“Our M&A team is here to advise dealers on effectively managing their dealership holdings and ensuring their store footprints align perfectly with their strategic long-term goals.”