Exciting Times for Automotive Dealerships
Performance Brokerage Services, recognized as a leader in dealership buy-sell transactions, has recently completed the sale of Team Chevrolet GMC. This significant transition was orchestrated between Mike Terry Auto Group and Payne Auto Group, marking a pivotal moment in their respective histories.
The Leadership Behind the Sale
Mike Terry, the visionary behind the Mike Terry Auto Group, embarked on a career in the automotive sector over a decade ago. Starting from management roles in various departments, he successfully purchased his first dealership in 2019, aided by Performance Brokerage Services. His commitment and passion for the industry fueled his multi-dealership organization, which now aids communities across various regions.
Growth and Expansion
Under Mike's stewardship, his organization has expanded its footprint significantly, now representing several major automotive brands such as Chevrolet, GMC, Ford, and Hyundai. Strategic acquisitions, made possible through Performance Brokerage Services, have been key to their growth strategy, allowing them to cultivate a robust presence in the market.
A Commitment to Community
Mike Terry Auto Group has not only achieved remarkable success in business but has also received multiple accolades, including Elite Dealer Awards and regional sales championships. The family-oriented culture fosters strong community ties through active participation in local events and educational programs.
Voices from the Frontline
After the sale, Mike Terry expressed gratitude towards Paul Kechnie of Performance Brokerage Services, emphasizing the professionalism and transparency during the process. His remarks highlight the seamless nature of the transaction and the pivotal role played by his advisor in ensuring everything ran smoothly.
High Volume Dealership Brokerage
Performance Brokerage Services has played a crucial role in advising on nearly 400 dealership sales in just five years, establishing itself as North America's highest volume dealership brokerage firm. Notable individuals involved in the sale included Paul Kechnie, Senior Partner; Matt Willis, Partner; and Jamie Farley, Partner, all of whom provided exclusive advisory services for this transaction.
Continued Commitment to Excellence
In a statement, Paul Kechnie expressed his honor in representing Mike Terry in the sale, underscoring the strong foundation built by Mike at Team Chevrolet GMC. He highlighted the collaborative efforts with Austin and Mark Payne of Payne Auto Group, which contributed to the success of this venture.
Payne Auto Group: A Legacy of Service
Founded in 1949, Payne Auto Group is a reputable name in South Texas, operating over ten dealerships. Their commitment extends beyond automotive sales as they actively participate in community initiatives, such as scholarship programs and substantial donations to local hospitals, reinforcing their dedication to societal well-being.
Community Impact
Among their numerous community initiatives, the Payne Auto Group High School Cash Scholarship awards $1,000 annually to talented seniors from local schools. Furthermore, a recent $1 million contribution to Driscoll Children's Hospital signifies their dedication to foster positive change within their communities.
A New Chapter for Team Chevrolet GMC
The former Team Chevrolet GMC is set to emerge as Payne Alice Chevrolet GMC, maintaining its current location while carrying a rejuvenated brand identity. This rebranding is anticipated to enhance customer experience and service.
About Performance Brokerage Services
Performance Brokerage Services, Inc. stands as North America's apex dealership brokerage firm, excelling in the buy-sell landscape of various dealership types. With over 30 years of experience and a high closing rate, they have cultivated a reputation rooted in integrity and ethical behavior.
Innovative Approach to Dealership Transactions
They are notable for offering complimentary valuations without any initial fees, underscoring their commitment to transparency and customer satisfaction. Their wide-ranging network, including industry-specific attorneys and accountants, positions them uniquely to serve clients effectively.
Frequently Asked Questions
What is the significance of the sale of Team Chevrolet GMC?
The sale signifies a strategic transition that aligns with the growth ambitions of both Mike Terry Auto Group and Payne Auto Group.
Who were the main advisors in this transaction?
Paul Kechnie, Matt Willis, and Jamie Farley, from Performance Brokerage Services, were the exclusive advisors facilitating the transaction.
What community initiatives does Payne Auto Group support?
Payne Auto Group engages in various community-focused programs, including scholarships for high school students and significant donations to local hospitals.
How long has Performance Brokerage Services operated?
Performance Brokerage Services has been functioning for over 30 years, establishing itself as a leading firm in dealership brokerage.
What are the future plans for Team Chevrolet GMC?
Team Chevrolet GMC will be renamed to Payne Alice Chevrolet GMC, continuing operations at the same location with enhanced branding.
