Foundation

Redcap&Truss Advises Foundation Automotive Corp.

Foundation Automotive purchases Motorcars Honda

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

If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.