A Successful Sale for Lithia & Driveway
Performance Brokerage Services, renowned as a leader in dealership buy-sell activities, has successfully facilitated the sale of North Branch Chevrolet from Lithia & Driveway (LAD) to Tyler Kadlec of Tom Kadlec Automotive. This significant transaction highlights the ongoing evolution within the automotive dealership landscape.
Marking a New Chapter
Lithia & Driveway, one of North America's leading automotive groups, has roots tracing back to a modest dealership founded by Walt DeBoer in 1946. Over the decades, the company has transformed into a prominent player in the industry, currently led by Sid DeBoer's son, Bryan DeBoer, who serves as CEO and President. Ranked #1 on the Automotive News Top 150 Dealership Groups based on retail sales, Lithia & Driveway continues to exhibit robust growth and strategic divestments.
Comments from Leaders
Matt Whitmer, Director of Network Development for Lithia & Driveway, expressed satisfaction about the sale, stating, "When we decided to divest our North Branch Chevrolet store, we reached out to Performance Brokerage Services for assistance in finding a qualified buyer. Their exceptional support throughout the process made it seamless and efficient." This positive feedback underscores the company's commitment to fostering strong partnerships and ensuring that sales align with their strategic goals.
Performance Brokerage Services' Proven Expertise
With over 300 dealership sales in the last five years alone, Performance Brokerage Services proudly stands as North America's highest volume dealership brokerage. Key figures in this recent transaction included Senior Partner Paul Kechnie and Partners Emily Bourne and Matt Willis, who successfully managed the deal.
A Meaningful Partnership
Emily Bourne commented on the partnership with Lithia & Driveway, stating, "It was an honor to represent Lithia & Driveway during this sale. Understanding their goals allowed us to identify the perfect buyer in Tyler Kadlec, who is set to expand the Tom Kadlec Automotive presence. This was not just a transaction; it was a partnership built on shared values and goals. We look forward to our future collaborations with both Lithia & Driveway and Tom Kadlec Automotive."
Expanding Tom Kadlec Automotive's Footprint
Tom Kadlec Automotive, a family-owned dealership established in 1979, is now enhancing its operations with the acquisition of North Branch Chevrolet. Tyler Kadlec, COO of Tom Kadlec Automotive, expressed gratitude for the assistance provided by Performance Brokerage Services, noting that their trustworthiness and clear communication significantly contributed to a positive experience. "Their professionalism ensured a smooth transaction," Kadlec remarked.
Renaming and Future Plans
Following the acquisition, North Branch Chevrolet will be rebranded as Tom Kadlec Chevrolet, continuing its operations at its existing location. This strategic move signifies the growth trajectory of Tom Kadlec Automotive as they look to integrate North Branch Chevrolet into their family of dealerships.
About Performance Brokerage Services
Performance Brokerage Services, Inc. has established itself as North America's leading dealership brokerage firm, with a specialization in automotive, RV, and other dealership transactions. With over three decades of experience, they boast a remarkable success rate that speaks to their expertise and ethical standards. Offering complimentary estimates and charging success fees only upon transaction closure, they have positioned themselves as trusted advisors in this competitive market.
Headquartered in a prime location and supported by regional offices across the nation, Performance Brokerage Services leverages a comprehensive network of industry professionals, ensuring clients receive top-tier service and national exposure with local representation.
Frequently Asked Questions
What is the significance of the sale of North Branch Chevrolet?
The sale illustrates Lithia & Driveway's strategic divestment approach while enhancing Tom Kadlec Automotive's operations.
Who facilitated the sale?
Performance Brokerage Services was the brokerage firm that facilitated the sale of North Branch Chevrolet.
What impact does this sale have on the automotive industry?
This transaction highlights trends in dealership acquisitions and the importance of strategic partnerships in the automotive market.
What is Lithia & Driveway's history?
Lithia & Driveway has a rich history dating back to 1946, evolving into a leading automotive group under the guidance of its founders and current leadership.
How does Performance Brokerage Services support its clients?
They offer expertise in dealership transactions, providing complimentary valuations and a high success rate in closing deals, ensuring client satisfaction.
