"There's a lot of opportunity here," Womack said. "There's a lot of growth in Montana."Womack said the deal took a long time to close and there were "a lot of hurdles to overcome."
So much so that MacNeil in May filed a lawsuit in Montana federal court against the dealership and Rimrock Auto Group seeking an order for Rimrock to complete "failed and defaulted" obligations in the parties' Jan. 4 asset purchase agreement. The lawsuit also sought damages, plus lawyers' fees and costs.
MacNeil agreed to pay Rimrock $4.9 million for the blue sky value of the dealership.
Blue sky is the intangible value of a dealership, including goodwill.