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ZT Wealth Announces Expansion to Automotive Industry
Houston-based ZT Wealth, a full-service wealth management company, has expanded its business operations and deepened its investment portfolio with the launch of a new business line, ZT Motors Holding, LP.
HOUSTON, Jan. 29, 2015 /PRNewswire/ – Houston-based ZT Wealth (ztwealth.com), a full-service wealth management company, announced today it has expanded its business operations and deepened its investment portfolio with the launch of a new business line, ZT Motors Holding, LP.
The company has acquired Quality Imports, Inc. in Fort Walton Beach, Florida and will manage four area dealerships including BMW, Mazda, Mercedes-Benz and Toyota-Scion. The deal was closed on January 20, 2015 and financing was secured through Texas Capital Bank and Mercedes-Benz Financial Services USA. The total approximate transaction was $80 million.
“We are continually looking for innovative ways to diversify our investment portfolio and bring new business opportunities to our partners,” said Taseer Badar, chief executive officer of ZT Wealth and ZT Motors. “As a car enthusiast myself, I look forward to providing the greater Fort Walton Beach community with a first class customer experience like none other. The high demand for a white glove level of auto service in Florida coupled with ZT Wealth’s superior financial platform has created an exciting opportunity for us to expand our business and serve new and existing clients.”
Garrick Hatfield has been named president and dealer principal of ZT Motors. Hatfield has over 20 years of experience in the automotive industry and previously served as general manager of Alex Rodriguez Mercedes-Benz, one of the nation’s premier dealerships with annual sales of over $80 million. Under his leadership, the dealership experienced benchmark client satisfaction and impressive steady net growth year after year.
“Each of these auto brands are well known for quality and craftsmanship, which naturally aligns with our business goals,” said Hatfield. “ZT Motors exemplifies the innovative thinking that our partners have come to expect over the past several years.”
ZT Wealth was established in 1997 and has quickly grown into a full-service wealth management firm that provides specialized financial solutions to its clients through traditional, alternative and private equity investments. The company has experienced success through its unique private equity opportunities, such as Altus Health System. The organization continues to diversify its portfolio into new industries, including global real estate, commercial property, and most recently, the automotive industry.
“At ZT Wealth, we pride ourselves in our extensive experience and sterling reputation for building highly successful service-oriented companies from the ground up,” said Kraig Killough, chief operating officer at ZT Wealth. “Whether it’s healthcare, real estate or financial services, we are committed to the highest standards of satisfaction for our clients.”