Exciting Acquisition in the Dealership World
Performance Brokerage Services, a prominent name in dealership buy-sell activity, recently facilitated a significant transaction involving Gengras Volkswagen. The dealership has transitioned ownership from Gengras Motor Cars Inc to the new owners, Christopher Tornaquindici and Brian Boland, marking a notable event in the automotive industry.
Background on Gengras Volkswagen
Gengras Motor Cars Inc operates multiple dealerships representing leading automotive brands, including BMW, Chrysler, and Ford. This well-established company employs over 500 individuals, with leadership from Chip Gengras as President and Jonathan Gengras as Chief Financial Officer, ensuring that the transition is handled with excellence and care.
Leadership and Vision of the New Owners
Christopher Tornaquindici, who has ample experience in the Connecticut Volkswagen market, assumes the role of co-owner, bringing his expertise to Crew Volkswagen, the new name for Gengras Volkswagen. Alongside him, Brian Boland adds his strategic vision and leadership skills, aimed at enhancing the dealership's community presence and ensuring sustained growth.
Successful Collaboration and Transaction
The Gengras family expressed their appreciation for the teamwork exhibited by Performance Brokerage Services throughout the sale process. They highlighted the professionalism and integrity shown by the brokerage team, which, even without direct representation, made the process smooth and collaborative.
Performance Brokerage Services' Proven Track Record
In the past five years, Performance Brokerage Services has facilitated nearly 400 dealership sales, establishing itself as the highest volume dealership brokerage firm in North America. Notable figures from the firm, including Gershon Rosenzweig, Matt Wilkins, and Jacob Stoehr, played key roles as buy-side advisors during this important transaction.
Future Plans for Crew Volkswagen
With the acquisition finalized, Gengras Volkswagen will now be known as Crew Volkswagen and will continue operating from its current location at 245 New Britain Avenue. This change signifies not just a new name but also a fresh vision aimed at serving the community effectively.
Performance Brokerage Services: A Leader in the Industry
Based in Irvine, California, Performance Brokerage Services stands out as North America's leading dealership brokerage firm, specializing in various sectors, including automotive and equipment dealerships. Their unique approach offers complimentary estimates without upfront costs, which has earned them a solid reputation in the industry.
Commitment to Growth and Ethical Practices
With over 30 years of experience and a remarkable closing rate, Performance Brokerage Services continues to excel. Their commitment to ethical conduct ensures protection and trust between buyers and sellers alike, making them a preferred choice in dealership transactions.
Frequently Asked Questions
What is the latest acquisition facilitated by Performance Brokerage Services?
The latest acquisition involves Gengras Volkswagen, now renamed Crew Volkswagen, transitioning ownership to Christopher Tornaquindici and Brian Boland.
Who were the key players in this acquisition?
Gershon Rosenzweig, Matt Wilkins, and Jacob Stoehr from Performance Brokerage Services served as buy-side advisors for this transaction.
What makes Performance Brokerage Services stand out?
The firm is recognized for its expertise in dealership sales, offering complimentary estimates and maintaining a high closing rate, underlining its commitment to ethical practices.
What strategies do the new owners plan for Crew Volkswagen?
The new owners aim to enhance the dealership's community presence and drive growth through strategic leadership and collaboration.
Where is Crew Volkswagen located?
Crew Volkswagen is located at 245 New Britain Avenue, where it will continue to serve the community with its automotive offerings.
