Donnie Crevier is no longer the owner of Crevier BMW and its Mini Cooper dealership at the Santa Ana Auto Mall, but his name will carry on and his imprint will remain.
Crevier sold the dealership to Michigan’s Penske Automotive Group Inc. last week for an undisclosed price.
Some other terms concerned the Crevier family’s legacy.
Donnie Crevier thought Penske was the best fit for the dealership.
“We feel very confident about their ability to embrace what we have worked so hard to develop since 1971,” he said.
General manager Al Parajeckas will stay on and no cuts are planned for Crevier’s 280-member work force.
Crevier BMW and Mini combine for annual sales of about $275 million at the dealership’s 12-acre spread that includes 100,000 square feet of showroom and other space, and a five-story, 195,000-square-foot parking structure.
“With the quality of people that work there, we’re excited to learn about what they do to make them so successful and sharing their successes with other dealers,” said Anthony Pordon, executive vice president for Penske.
Penske also will carry on Crevier’s charitable tradition, according to Pordon.
The dealership has long supported many nonprofits, including the Boys and Girls Club of Laguna Beach and Irvine-based Human Options Inc.
Donnie Crevier has served on many nonprofit boards and has been a major backer of education charities.
Crevier was founded in 1971 by Donnie Crevier’s father, Bob Crevier, who died in 2003.
Donnie Crevier began working at Crevier shortly after the dealership opened and became a partner in 1975.
He’s a car guy who still owns and operates Crevier Classic Cars in Costa Mesa.
Crevier opened the car aficionado club and collectible car storage facility in 2007. He keeps his personal collection there.
Classic Cars also hosts events and sells vintage, muscle and exotic cars.
Penske Interest
Penske was interested in Crevier for a number of reasons.
“It’s a premier business—it’s in a great demographic area,” said Pordon. “It is a business that has been established for many years and it has a long history of excellence.”
The Crevier buy gives Penske 11 BMW and seven Mini dealerships. The company has 324 dealerships globally, with about half in the U.S.
BMW franchises account for 22% of Penske’s revenue, Pordon said.
Penske had another reason for wanting to buy Crevier.
Penske owns Commonwealth Audi and Volkswagen, also at the Santa Ana Auto Mall.
It bought the dealership in 2010 and plans to give each brand its own showroom in coming months.
Penske also plans to make Crevier’s Mini showroom more prominent.
“We’ll probably do some investing and make it that much better,” Pordon said.
In recent years, Penske’s built new showrooms for Mini dealers in San Diego, Tempe, Ariz., and Austin, Texas.
The decision by Donnie Crevier to sell came this year, said Shane Dever, managing director and co-head of Automotive Retail Investment Banking at Presidio Merchant Partners LLC, part of San Francisco-based Presidio Group LLC.
Presidio, whose officials have known Crevier for at least 10 years, advised Crevier on the sale.
“We’ve always been advising him on the market,” Dever said.
Dealer Demand
As the auto dealer market continues to improve, dealer groups are on the hunt for businesses like Crevier’s.
“Demand for high-quality assets like Crevier is high,” Dever said.
Crevier built his BMW dealership into one of the best in the nation, with a reputation for quality and service.
It has long been the No. 2 dealer in Orange County after Newport Beach-based Fletcher Jones Motorcars, which has yearly sales of $431 million according to the Business Journal’s March auto dealers list.
“(Crevier has) built a fantastic team,” Dever said. “His team is as good as it gets.”
In recent years Crevier spent $33 million to expand and remodel its showroom at the Santa Ana Auto Mall.
