Foundation Automotive Corp Sells Tennessee Dealerships to Jones Motor Company
Foundation Automotive Corp Transfers Four Dealerships
Performance Brokerage Services has successfully facilitated the sale of four of Foundation Automotive Corp's dealerships located in Tennessee to Jones Motor Company. This sale includes notable names such as Jones Chevrolet Humboldt, Jones Nissan of Savannah, Jones GMC of Savannah, and Jones Chrysler Dodge Jeep Ram of Savannah.
The Transition and Future Focus
In light of this sale, Foundation Automotive Corp aims to refocus and realign their automotive operations. Mike McMeeken, the Vice President of Corporate Development at Foundation, expressed appreciation for the collaboration with Performance Brokerage Services. Working with a dedicated team, including professionals like George Chaconas and Jimmy Robinson, has proved to be beneficial in navigating the complexities of the sale process.
The Strength of Performance Brokerage Services
With a remarkable track record, Performance Brokerage Services stands as North America’s leading dealership brokerage firm, having handled the sale of nearly 400 dealerships over the past five years. Their expertise ensures a seamless transaction process, strengthening their reputation within the automotive industry.
A Successful Partnership
George Chaconas, a key figure in the transaction, highlighted the hard work that went into this operation. He, alongside colleagues Jimmy Robinson and Courtney Bernhard, played a pivotal role as exclusive sell-side advisors, demonstrating their commitment to achieving successful outcomes.
Dealership Operations Continue Strong
Jones Motor Company, established in 1960, boasts a rich history in the automotive sector. With steadfast operations located in Savannah and Humboldt, they continue to provide customers with access to a diverse range of brands, including Ford, Chevrolet, and Ram.
What Lies Ahead for Foundation Automotive Corp
Even after the sale, Foundation Automotive Corp persists as a significant player in the automotive industry, significantly within Colorado and Texas. Their strategy emphasizes rejuvenation and growth of their existing dealerships, setting the stage for future opportunities.
Conclusion
The transition of these four dealerships to Jones Motor Company showcases the continuous evolution within the automotive industry. With the assistance of Performance Brokerage Services, Foundation Automotive Corp is well-equipped to embark on a focused path toward further success in the market.
Frequently Asked Questions
What led to the sale of the Tennessee dealerships?
The sale was aimed at refocusing Foundation Automotive Corp's operations and better aligning their core group of dealerships.
Who facilitated the sale?
Performance Brokerage Services played a critical role as the brokerage firm that facilitated the sale of the dealerships.
What brands are represented by Jones Motor Company?
Jones Motor Company offers a range of brands including Ford, Chevrolet, and Nissan, among others.
How many dealerships has Performance Brokerage Services sold?
Over the last five years, Performance Brokerage Services has advised on the sale of nearly 400 dealerships.
What is the future focus for Foundation Automotive Corp?
Foundation Automotive Corp aims to rejuvenate and grow their existing dealerships while continuing to explore new opportunities in the automotive sector.
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