Performance Brokerage Services Facilitates a Notable Transaction
Performance Brokerage Services stands at the forefront of dealership buy-sell activity, announcing a significant transition: the sale of Money Subaru to Midway Motors. This transaction reflects the firm's expertise in navigating dealership sales with finesse.
Understanding the Sale Process
The strategic move involved bringing on board Jason Hoover from Midway Motors, ensuring a seamless process. Eric Scott, a seasoned professional at Performance Brokerage Services, played a pivotal role. His deep understanding of the automotive sector helped bridge gaps and facilitated a smooth transition.
Thoughts from Mike Money
Post-sale, Mike Money recounted his interactions with Eric Scott, highlighting their longstanding relationship. He appreciated the support and guidance throughout the selling process. "Deciding to sell wasn’t easy, but knowing I had Eric and Performance Brokerage by my side made it more manageable," he shared. His endorsement speaks volumes about the quality of service offered by Performance Brokerage Services.
Midway Motors Expands Its Reach
With the acquisition of Money Subaru, Midway Motors has solidified its status in the automotive sector. This growing automotive group now boasts a portfolio of six dealerships, representing various brands including Chevrolet, GMC, and Subaru. Jason Hoover expressed enthusiasm about the collaboration, commending Eric’s clarity and quick response throughout the negotiations. His positive remarks emphasize the effective communication that characterized this transaction.
Performance Brokerage's Track Record
Performance Brokerage Services has made significant strides in the industry, having facilitated the sale of nearly 400 dealerships over the past five years. This accomplishment establishes them as North America's leading dealership brokerage firm. Senior Partner Paul Kechnie and Partner Eric Scott were the exclusive sell-side advisors for this notable deal, showcasing their expertise in the field.
Building Strong Partnerships
Eric Scott’s relationship with Mike Money reflects the importance of trust in such deals. Through his proactive approach, Scott successfully connected Money with the ideal buyer, Jason Hoover of Midway Motors. This partnership highlights how building strong relationships can lead to successful outcomes in business transactions.
The Future for Salina Subaru
Following the sale, Money Subaru will henceforth operate under the name Salina Subaru, maintaining its location while embracing a new identity. This transition marks an exciting new chapter for both the dealership and Midway Motors as they expand their reach and influence in the automotive market.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is recognized as the premier dealership brokerage firm in North America. They specialize in the buying and selling of automotive, RV, commercial truck, and powersports dealerships. With over 30 years of industry experience, the firm has successfully sold 900 dealerships with a remarkable 90% closing rate, highlighting their reputation for excellence.
The firm adopts a unique approach, offering no upfront fees and providing complimentary estimates of value, ensuring clients only owe a success fee once a transaction is completed. Headquartered in Irvine, California, and supported by 12 regional offices across the United States and Canada, the firm offers clients national exposure paired with local expertise.
With a wealth of experience, Performance Brokerage Services leverages a vast network of industry contacts including attorneys and accountants, along with a dedicated pool of registered buyers.
For additional information regarding the services offered by Performance Brokerage Services, potential clients can reach out for a conversation about their unique needs.
Frequently Asked Questions
What prompted the sale of Money Subaru?
Mike Money decided to sell due to personal and business motivations, seeking the right partner to take over the dealership.
Who facilitated the sale?
The transaction was expertly handled by Performance Brokerage Services, with Eric Scott leading the effort.
What is the new name of Money Subaru?
The dealership will now operate under the name Salina Subaru.
Why is Midway Motors interested in acquiring more dealerships?
Expanding their presence allows Midway Motors to enhance their market offerings and customer reach.
How does Performance Brokerage Services differentiate themselves in the market?
They provide valuable insights and complimentary estimates without upfront costs, focusing on successful transactions for their clients.
