8 Denton Business Chronicle
Feb. 2014
Business Spotlight
McNatt dealerships sold Veteran businessman plans to rest but stay invested in Denton
Reins handed to Florida firm By Jenna Duncan
T
By Dawn Cobb
S
itting at his new desk nestled on the third floor of a former hospital office complex, Jim McNatt recalls washing cars and handling janitorial duties as a 12-year-old at his father’s auto dealership in Greenville. Today — 60 years later — McNatt is embarking in a new direction after selling the Jim McNatt Auto Group dealerships in Denton. The family continues its trademark business with two locations, the Luttrull-McNatt Chevrolet dealership in Sanger and the Luttrull-McNatt Buick/Chevrolet/ GMC location in Gainesville. McNatt is a partner in both, where he plans to stay active as well as work with his brother, Al McNatt, in managing real estate endeavors, including the previous campus of Denton Regional Medical Center off Interstate 35 and surrounding properties. Amid the ongoing interior renovations of his new office, the longtime automotive dealership owner said he feels both excited about the future and reflective about the years spent overseeing a company that — at its height — operated eight dealerships in the region and in Mississippi. “I’m taking a rest and am going to re-evaluate my next career,” the 72-year-old said. IN HIS FATHER’S FOOTSTEPS “Our family had a strong work ethic,” he said of his father, Leon McNatt, who established the family’s Oldsmobile dealership in 1932, adding Cadillac
Photo by Al Key
and Studebaker in 1946. Over the years, other franchises — Jeep, Honda and Dodge — were added as Jim McNatt continued to work six days a week in sales and attended classes at what is now the University of North Texas. Leon McNatt Oldsmobile, Cadillac, GMC was founded in 1961 His father’s profession then became his own. “I never made a decision to follow. I just don’t think I ever took the time to opt out,” Jim McNatt recalled with a chuckle. In 1980, Al McNatt bought Banner Chevrolet in Denton. In 1983, construction was finished on the new Chevrolet dealership on Interstate 35 as well as the Jim McNatt Honda facility in Lewisville. The brothers bought Bill Utter Toyota Dodge on University Drive in 1985. MCNATT | CONTINUED ON PAGE 17
Photo by Karina Ramírez
TOP: Jim McNatt, right, applauds his dealership receiving the Toyota Signature Certification Award in June 2010. ABOVE: Tammy Motteler of Lake Dallas was the winner of the 2013 McNatt Community Support program on May 18. She chose a 2013 Toyota RAV4 Limited edition from Jim McNatt Toyota.
he Florida-based company Automotive Management Services Inc. is the new owner of the Jim McNatt Auto Group’s Honda and Toyota dealerships in Denton. The dealerships are now named Honda of Denton and Toyota of Denton. Both names were registered with the county Dec. 17 by Terry Taylor, president of AMSI, and the sale was finalized Jan. 8. With the acquisition, AMSI now owns 90 dealerships in Texas, Florida, Georgia, Tennessee, North Carolina and Colorado. The company’s headquarters are in Florida. Eddie Mihalovich, director of marketing for AMSI, said the company plans to maintain local management and employees, as Jim McNatt was mindful of his employees while navigating the sale. “It’s just going to be a bit of a different culture in the dealership, and we’ll keep it as customer-oriented as possible,” he said. Both dealerships, however, have new managers — Chris Ballard is the general manager at Honda of Denton, while Scott Fly will be the general manager at Toyota of Denton. While Mihalovich declined to say how long the sale had been in the works, he said McNatt was careful to find the right buyer before he began the sale. “One thing he did was he felt very strongly about finding the right organization to do it with,” Mihalovich said. “He didn’t want to sell to a big
FLORIDA | CONTINUED ON PAGE 21