| Group 1 Automotive, Inc. | |||
| Ticker: | GPI | 950 Echo Lane, Suite 350 | |
| Exchange: | New York Stock Exchange | Houston, TX 77024 | |
| Industry: | Retail (SIC Code 5511) | (713) 467-6268 | |
| Type of Shares: | Common Shares | Filing Date: | 6/24/97 | |
| U.S. Shares: | 4,800,000 | Offer Date: | 10/29/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | - | |
| Primary Shares: | 4,428,136 | Offer Price: | $12.00 | |
| Secondary Shares: | 371,864 | Gross Spread: | $0.84 | |
| Offering Amount: | $55,000,000 | Selling: | $0.45 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Montgomery Securities | Co-manager | (415) 627-2100 |
| Issuer's Law Firm: | Vinson & Elkins |
| Bank's Law Firm: | Sullivan & Cromwell |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/97 | |||
| Revenue: | $825.65 | $215.30 | Assets: | $233.03 | |
| Net Income: | $9.23 | $2.15 | Curr Assets: | ||
| EPS: | Liabilities: | $175.90 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $57.12 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was founded to become a leading operator and consolidator in the highly fragmented automotive retailing industry. The company owns 30 automobile dealerships and five collision service centers located in Texas and Oklahoma, and sells new and used cars and light trucks, provides maintenance and repair services, sells replacement parts and provides related financing, insurance and service contracts. The company represents 21 American and Asian brands including Acura, Chevrolet, Chrysler, Dodge, Eagle, GMC, Honda, Isuzu, Jeep, Kia, Lexus, Lincoln, Mazda, Mercury, Mitsubishi, Nissan, Oldsmobile, Plymouth, Pontiac, Suzuki and Toyota. The company's dealerships include the second largest Toyota dealership in the United States as measured by new retail unit sales and one of the largest dealership groups in Oklahoma. The company is experiencing significant momentum in its financial results. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the acquisitions and will be used to repay outstanding indebtedness, for working capital and for general corporate purposes including potential acquisitions. |