Atlantic Canada-based Steele Auto Group continued its acquisition spree in Texas on Oct. 17 with the purchase of Nyle Maxwell GMC in the Austin suburbs.
It’s Steele’s third purchase in Texas in five months. The dealership group’s footprint in the state has grown to eight stores since 2020.
“Round Rock, located just outside [the] Austin city limits is a growing area where we see the potential for continued growth,” Steele President Kim Day said in a release.
The dealership, which will be rebranded as Steele GMC Round Rock, will “nicely compliment” Steele’s existing locations in Texas, Day added.
Financial terms of the deal were not disclosed.
Former owner Nyle Maxwell said he made the decision to sell the family-run dealership after “much thought,” and extensive meetings with Steele CEO Rob Steele and the group’s management team.
“[We] are confident that we are leaving our employees … and our customers in very good hands,” he said in a release.
In addition to the Texas stores, Steele Auto Group, headquartered in Dartmouth, N.S., also owns 51 dealerships in Canada.