Haig Partners announced the sale of eight Virginia dealerships owned by Beyer Automotive Group. The group’s portfolio included franchises across several major brands, making it an attractive acquisition for the buyer — whose identity has not yet been disclosed — according to a release.

Executives said Beyer Automotive’s decision to sell comes amid a competitive market with high valuations and strong buyer interest.

“It has been an amazing experience working with family and friends for so many years, and I am extremely proud of the legacy that Beyer Automotive Group has created. The decision to sell was difficult, but I was ready to move on to other interests and spend more time with my family,” said Mike Beyer. “I knew that I wanted a highly professional advisor to achieve our goals given the complexity of potentially having multiple transactions, varying requirements of the six manufacturers, and unique real estate challenges.”

Open Road Capital, which is backed by private equity firm Bain Capital, purchased five of the dealerships.

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