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Hiley Automotive Group has expanded its North Texas footprint with the purchase of Lakeside Chevrolet in Rockwall. The longtime dealership, founded in 1972 by Walter “Pat” Grady and his wife, Carol, has been a fixture along Rockwall’s busy auto row on Highway 30.
The store will be renamed Hiley Chevrolet and continue operating at 2005 South Goliad Street.
Performance Brokerage Services, North America’s highest-volume dealership brokerage firm, advised on the transaction. Over the last five years, Performance Brokerage Services has advised on the sale of nearly 400 dealerships, making it the highest volume dealership brokerage firm in North America, according to a press release.
Paul Kechnie, senior partner, and Eric Scott, partner of the Texas & Midwest Office for Performance Brokerage Services, were the exclusive sell-side advisers.
"Jason Hiley is an outstanding buyer with a proven to track record of high-performing dealerships in the Dallas–Fort Worth market,” Scott said in a statement. “For Carol Grady, finding the right buyer was about preserving the legacy that she and her late husband, Pat, built over 53 years. We are confident that Jason and his team will honor that legacy and continue to take great care of the employees, customers, and community in Rockwall."
Hiley Automotive Group is a locally owned, family-operated business. Founded in 1990 by Randy Hiley with the opening of Hiley Mazda and Hiley Volkswagen in Arlington, the group is now led by his sons, Jason and Matt.
Over the years, Hiley Automotive Group has expanded to 14 dealerships across Texas and Alabama, representing Acura, Audi, Buick, Chevrolet, GMC, Hyundai, Mazda, Subaru, and Volkswagen.