Lubbock’s Alderson Family of Dealerships this week announced that the company with a more than 70-year history in the Hub City will soon be led by a San Antonio based auto group.
Alderson, which was founded in Lubbock in 1949 and now has dealerships in Lubbock and Midland, will be part of the Cavender Auto Group, pending a sale that’s expected to close within the next 90 to 120 days.
David Alderson, the company’s third-generation owner who also serves as its president and CEO, said now seemed like the right time to transition to new leadership and for his family to step back from the company, adding that the Cavender Auto Group seemed like the best fit to take over.
Other than Alderson stepping back, he said, and customers will likely see little change.
Cavender will retain Alderson’s current employees, and Alderson said he doesn’t anticipate a change in the name – the ability to use the family’s name was part of the deal.
“They’re a bigger company and here in the state, and I think it will open up opportunities for our people – our employees – and as well as for our customers through access to more pre-owned inventory and other opportunities,” he said.
According to its website, the Cavender Family has been selling and servicing cars and trucks in San Antonio and South Texas for over 80 years. Today, the Cavender name is associated with eight separate dealership facilities selling Audi, Buick, Cadillac, Chevrolet, GMC, Land Rover and Toyota brands.
Alderson announced the sale in an email to employees Monday morning, with industry trade publication Automotive News reporting on the deal this week.
In the letter, Alderson told employees “you all have meant so much to our dealerships over the years and today I am announcing that the Alderson Family of Dealerships has new leadership under the Cavender Auto Group.”
Alderson and members of the Cavender family met with employees Monday in Lubbock and Midland.
In his email, Alderson wrote: “The most important item for me was to make sure the next automobile family to work with our associates and our clients and the relationships we have established over the past 72 years was just that, an outstanding Texas automobile family.”
According to the Automotive News trade publication, Rick Cavender, vice president of the San Antonio dealership group, David Alderson reached out to his company last year about the possibility of the sale.
He said the deal still requires automaker approvals and that the parties hope to close on the transaction in 90 to 120 days. He said his family, in the auto business for 83 years, would carry on and continue the legacy of the Alderson group.
“We really felt cultural alignment and our message to the employees … was that we will continue to build on the legacy that Mr. Alderson has presented you all in Lubbock, not only as a great businessman but a community steward as well,” Cavender said.
Alderson told the Avalanche-Journal this week that he’s not exactly retiring.
He’ll stay in Lubbock and remain active in his civic leadership roles, including his spot on Lubbock’s Downtown TIF board, where’s he’s hopeful to see development projects come to fruition.