Ultimate Dealer Group Completes Acquisition of Fleming's Ultimate Garage
Performance Brokerage Services, a leader in dealership buy-sell transactions, has facilitated the acquisition of Fleming's Ultimate Garage by Ultimate Dealer Group. This transaction marks an exciting chapter for both parties as they move forward in the automotive industry.
Overview of Fleming's Ultimate Garage
Founded in 2001, Fleming's Ultimate Garage is renowned as a family-owned dealership that specializes in a diverse range of automobiles, including classic, muscle, sports, and exotic vehicles, as well as motorcycles. Its impressive 80-vehicle showroom serves as a testament to its commitment to quality and service, offering collectors and enthusiasts an unparalleled selection.
Ultimate Dealer Group's Expansion Strategy
Ultimate Dealer Group, which encompasses various dealerships including Ellingson Motorcars, aims to further its growth by acquiring well-established dealerships like Fleming's Ultimate Garage. Ellingson Motorcars, based in Minnesota, is recognized for its fine classic and collectible automobile offerings.
Performance Brokerage Services: A Trusted Partner
Over the past five years, Performance Brokerage Services has carved a niche for itself by successfully advising the sale of approximately 400 dealerships, establishing itself as the top dealership brokerage firm in North America. George C. Chaconas, a Senior Partner in the Southeast Division of the firm, played an instrumental role as the exclusive sell-side advisor in this particular transaction, leveraging his expertise and knowledge of the industry.
The Sale Process and Key Players
During the sale process, Tony and Monica Fleming sought the guidance of George Chaconas, approaching him to facilitate the transition of their classic car business, which they developed over 24 years without a formal succession plan. According to Chaconas, the acquisition by Dan Ribnick, who is already a prominent figure in the industry, represents a significant opportunity for growth and continued success.
Future Directions for Fleming's Ultimate Garage
Fleming's Ultimate Garage will operate from its established location at 660 Lofstrand Lane. The leadership and vision of the new management aim to honor the legacy of the Flemings while paving the way for innovative strategies to enhance customer experience and operational efficiency.
The Commitment to Client Success
Performance Brokerage Services is committed to maintaining high ethical standards and integrity, guiding dealerships through complex sales processes. With a unique approach that includes complimentary value estimates and a strong closing rate of 90%, it continues to attract clients seeking trustworthy representation in transactions.
About Performance Brokerage Services
Headquartered in Irvine, California, and with a network of 12 regional offices across the U.S. and Canada, Performance Brokerage Services is regarded as North America's highest volume dealership brokerage firm. Its expertise extends beyond automotive dealerships, encompassing RVs, commercial trucks, powersports, and equipment dealerships.
The company's extensive industry connections with attorneys, accountants, and a myriad of registered buyers ensure that it is always at the forefront of dealership transactions. Clients appreciate both the national exposure and local representation provided by Performance Brokerage Services.
Frequently Asked Questions
What is Fleming's Ultimate Garage known for?
Fleming's Ultimate Garage specializes in classic, muscle, sports, and exotic cars, featuring a state-of-the-art showroom with 80 vehicles.
Who acquired Fleming's Ultimate Garage?
Ultimate Dealer Group acquired Fleming's Ultimate Garage, aiming to expand its portfolio in the automotive sector.
What role did Performance Brokerage Services play in the sale?
Performance Brokerage Services acted as the exclusive sell-side advisor, facilitating the acquisition process for both parties.
What distinguishes Performance Brokerage Services from other firms?
The firm boasts a high closing rate, a wealth of experience, and a unique approach that offers complimentary estimates of value without upfront fees.
Will Fleming's Ultimate Garage continue to operate at its current location?
Yes, Fleming's Ultimate Garage will remain at its established location at 660 Lofstrand Lane after the acquisition.
