ZT Automotive, a division of ZT Corporate, announced an expansion into the Alabama market with the acquisition of 13 dealerships previously owned by Florida's Greenway Automotive Group.
The acquisition includes brands such as Toyota, Honda, Nissan and Chrysler Dodge Jeep Ram FIAT, positioning ZT Automotive to potentially generate more than $195 million in annual revenues.
"Our commitment to delivering top-notch service and optimizing operational efficiency has consistently driven revenue growth and enhanced profitability throughout our automotive business," said Taseer Badar, chairman and CEO of ZT Corporate and CEO of ZT Automotive.
The deal includes three dealerships in Florence and one in Tuscumbia, which will undergo rebranding to reflect the local cultural heritage, becoming Singing River Toyota, Singing River Honda, Singing River Nissan, and Singing River Chrysler Dodge Jeep Ram FIAT, honoring the region's rich musical and recording studio legacy.
A spokesperson for ZT Automotive confirmed wholesale parts availability from the acquired dealerships will remain the same.
“This acquisition emphasizes our commitment to creating value for our customers, investors and talented team,” said Sheheryar Shah, chief investment officer of ZT Corporate. “We plan to continue acquiring top-quartile and cash-flowing dealerships where we can leverage our operating strength to enhance business operations and profitability. Our automotive portfolio continues to deliver strong returns, and we are confident that the Alabama acquisition will yield similar results.”
This expansion follows ZT Automotive's successful operation of nine other dealerships in Texas, Florida and Georgia. With the addition of these new locations, ZT Automotive not only increases its market share but also enhances its service offerings in a new geographic area.
The transaction was facilitated by Alan Haig of Haig Partners, acting as the seller’s advisor, with BMO serving as the lender.
