Corwin Automotive Group Expands Portfolio with Subaru Acquisition
Performance Brokerage Services is thrilled to announce a significant development in the automotive dealership sector with the sale of Muscatell Subaru. This well-established dealership, known for its commitment to customer service and community, is transitioning ownership from Ward Muscatell to the prominent Corwin Automotive Group.
The acquisition of Muscatell Subaru serves as a critical milestone for Corwin Automotive Group, which proudly ranks 47th among the Top 150 Dealership Groups in the automotive industry. The ranking is based on impressive new vehicle retail sales in recent years. Corwin operates 19 dealerships across several states, showcasing its strong presence and commitment to excellence in the automotive field.
A Legacy of Exceptional Service
Muscatell Subaru was founded in 1996 and has built a strong reputation under the leadership of Ward Muscatell. The dealership not only provided quality vehicles but also fostered an engaging community atmosphere. The Muscatell family continues to run Muscatell Burns Ford, further solidifying their legacy in the automotive landscape.
This acquisition reflects the ongoing trends within the automotive market where larger groups are absorbing successful smaller dealerships to enhance their market reach and operational efficiencies. The transition is expected to allow Corwin Subaru to maintain the high standards set by Muscatell Subaru while expanding its services to better serve the community.
Significance of the Acquisition
As the automotive industry evolves, dealership buy-sell activity has gained momentum. Performance Brokerage Services has played a vital role in this space, having facilitated nearly 400 dealership sales over the last five years. Their expertise makes them a trusted leader in dealership brokerage, and Paul Kechnie, a Senior Partner with the firm, was the exclusive advisor for this sale.
Kechnie expressed enthusiasm for the transaction, stating, "It has been a pleasure working with Ward Muscatell and the entire team at Muscatell Subaru. This transaction marks an exciting new chapter for both the Muscatell family and Corwin Automotive Group. We are confident that Corwin Subaru will continue to serve the Moorhead community with excellence, building on the growth and success of this dealership." This level of commitment speaks volumes about the potential trajectory of Corwin Subaru under its new management.
Future Directions for Corwin Subaru
Following the acquisition, Muscatell Subaru will be transformed into Corwin Subaru, maintaining operations at its current location. This seamless transition is part of Corwin's strategy to uphold the dealership's community-oriented values while integrating their extensive resources to enhance customer experience.
Corwin Automotive Group’s expansive network and operational experience in various states, including Colorado and Idaho, position it well to drive growth for the newly acquired dealership. It strives to create a solid foundation in the community and aims to exceed customer expectations.
About Performance Brokerage Services
Performance Brokerage Services, known as North America's highest volume dealership brokerage firm, specializes in facilitating buy-sell transactions for automotive and various other dealership types. With over 30 years of industry experience, the firm holds an impressive 90% closing rate on transactions, reflecting its effectiveness and reliability.
The company’s unique offering includes complimentary valuations with no upfront fees, illustrating their commitment to client-focused service. This approach allows dealerships to assess their worth without the pressure of immediate commitment.
Headquartered in Irvine, California, with an extensive network of 12 regional offices across the United States and Canada, Performance Brokerage Services leverages local representation while providing clients with national exposure. Their extensive network includes industry-related attorneys and hundreds of registered buyers, enhancing the chances of successful dealership transactions.
Frequently Asked Questions
What is the significance of the sale of Muscatell Subaru?
The sale marks Corwin Automotive Group’s expansion and reflects ongoing trends in the automotive industry where larger groups acquire successful smaller dealerships.
Who facilitated the sale?
Performance Brokerage Services acted as the exclusive advisor for the transaction, leveraging their extensive experience in dealership sales.
What changes can customers expect at Corwin Subaru?
Corwin Subaru aims to maintain the community-oriented values of Muscatell Subaru while enhancing services and customer experience using Corwin's broader resources.
Where is the location of the new Corwin Subaru dealership?
The new Corwin Subaru will continue operations at the same address in Moorhead, ensuring continuity for existing customers.
What does Performance Brokerage Services specialize in?
Performance Brokerage Services specializes in facilitating buy-sell transactions for automotive, RV, commercial truck, and equipment dealerships, with a reputation for high success rates and client satisfaction.
