The Schomp Automotive Group has purchased three franchises from the Shortline Automotive Group, an acquisition that will make it the largest family-owned automotive business in the state.
“This is the next major milestone in the life and legacy of the Schomp Automotive Group, increasing our brand portfolio by 75 percent and welcoming more than 180 new teammates,” Aaron Wallace, who leads the Schomp Automotive Group, said in a news release on Wednesday.
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Schomp, based in Highlands Ranch, will add the Subaru, Hyundai and Mazda franchises from Aurora-based Shortline to its Honda, BMW and MINI franchises in the metro area. Brian Briscoe, vice president of the company’s Aurora operations, will oversee the new locations.
Wallace’s great grandfather, Roy J. Weaver, started one of the state’s first auto dealerships in Pueblo 105 years ago and relocated it to Denver in 1941. Wallace, 34, inherited the reins from his mother, Lisa Schomp, and father, Mark Wallace.
Shortline Automotive Group, based in Aurora, isn’t going away after 25 years. Founder Don Hick will retain Shortline Mitsubishi in Aurora and a new high-end used car dealership called Shortline Eurocars. He also owns a Porsche dealership in Colorado Springs.
“Both of the groups are very successful dealership organizations,” said Tim Jackson, CEO and president of the Colorado Automobile Dealers Association.
Financial terms of the transaction were not disclosed.
