Performance Brokerage Services Facilitates Major Deal
Performance Brokerage Services, known for specializing in dealership buy-sell activity, is excited to report a significant transaction involving HFI Truck Center. Allegiance Trucks has acquired this esteemed dealership.
Significance of HFI Truck Center
HFI Truck Center, established in 1930, originally began by distributing milk trucks. Over the years, this family-owned dealership transitioned to become a leading dealer of Isuzu commercial trucks, proudly serving as an exclusive Isuzu dealer for over three decades. HFI has consistently earned Isuzu's prestigious Circle of Excellence Award since its inception, highlighting its commitment to quality and customer service.
Leadership's Perspective on the Sale
Kerry Webb, the President of HFI Truck Center, shared his experience throughout the selling process. Webb had previously met Dan Argiro from Performance Brokerage Services during another acquisition and recognized the professional relationship they would develop. After careful consideration of their family's future, the desire to sell the dealership arose unexpectedly. They reached out to Argiro for guidance during this pivotal moment, leading to a successful sale despite numerous challenges faced during the process.
Performance Brokerage Services' Expertise
Over the past five years, Performance Brokerage Services has managed the sale of over 300 dealerships, cementing its position as North America's highest volume dealership brokerage firm. The team led by Dan Argiro and his partner Pat Albero offered expert advice and support throughout the transaction, ensuring a smooth transfer.
Vision for the Future
Argiro expressed his satisfaction with the sale and acknowledged the long-standing relationship with Allegiance Trucks. He noted how the acquisition aligns perfectly with Allegiance's expansion strategy in the commercial truck sector. Their eagerness to enhance their presence in the Northeast reflects their commitment to better serving customers in key markets.
Allegiance Trucks' Growth Strategy
Allegiance Trucks is an authorized dealer for prominent brands such as International, Hino, Isuzu, and Ford, operating across nine northeastern states. Mike Bozzoli, the Chief Executive Officer, commented on how this acquisition represents a pivotal advancement in their growth plan, allowing for enhanced service delivery and heightened customer satisfaction.
Current Operations and Future Plans
The rebranding of HFI Truck Center to Allegiance Trucks will maintain its operations at 1463 U.S. Highway 22. This location will continue to provide trusted service to customers while expanding Allegiance's footprint in a vital transportation market.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is recognized as North America's leading dealership brokerage firm. With over three decades of experience, they specialize in the buy-sell dynamics within the automotive, RV, commercial truck, powersports, and equipment dealership sectors. Their client-focused approach helps them maintain a stellar reputation, characterized by ethical conduct and integrity.
Service Offerings
The company provides complimentary valuations without upfront fees, ensuring that their clients feel secure and supported. With a remarkable 90% closing rate from nearly 900 dealerships sold, Performance Brokerage Services has built a network of trusted relationships and industry expertise.
Conclusion
As Performance Brokerage Services continues to lead the market in dealership transactions, their successful handling of the HFI Truck Center sale to Allegiance Trucks exemplifies their commitment to facilitating successful partnerships within the automotive industry.
Frequently Asked Questions
What is Performance Brokerage Services?
Performance Brokerage Services is the leader in dealership buy-sell activities, specializing in the automotive, commercial truck, RV, and equipment sectors.
Who was involved in the sale of HFI Truck Center?
The sale of HFI Truck Center involved Performance Brokerage Services, specifically Dan Argiro and Pat Albero as the exclusive sell-side advisors for this transaction.
What brands does Allegiance Trucks sell?
Allegiance Trucks is an authorized dealer for International, Hino, Isuzu, and Ford.
What is the significance of HFI Truck Center's history?
Established in 1930, HFI Truck Center is renowned for its commitment to excellence in the commercial truck sector and is a consistent awardee of Isuzu's Circle of Excellence.
What will happen to HFI Truck Center after the sale?
After the sale, HFI Truck Center will be rebranded as Allegiance Trucks and will continue operations at its existing location.
