Van Horn Automotive Group Sells Ford and Chevrolet Dealerships
Performance Brokerage Services, recognized as a leader in dealership buy-sell transactions, has announced the acquisition of Van Horn Ford and Van Horn Chevrolet from Van Horn Automotive Group, marking an important transition for the dealerships. The new owners, Yelena and Alex Tovstanovsky of Sky Auto Mall, are excited about the future prospects of their newly acquired franchises.
A Rich History of Van Horn Automotive Group
Established in the mid-20th century, Van Horn Automotive Group began in 1966 when Joe Van Horn, along with his wife Kay and their six children, relocated from Chicago and acquired Wagner Chevrolet in Plymouth. This move marked the inception of a family business that has grown significantly over the decades.
Expansion and Growth
By 2002, the company's growth momentum continued as they opened their first dealership in Oconomowoc, marking their expansion beyond the local Sheboygan County. The group has since broadened its presence and solidified its position within Wisconsin's automotive market. In 2017, a pivotal moment arrived when they ventured outside the state, acquiring Van Horn Ford and Van Horn Chevrolet.
Transition to Employee Ownership
A milestone in the company's development occurred in 2016 when Van Horn Automotive Group transitioned to an Employee Stock Ownership Plan (ESOP). This innovative decision made it the only employee-owned automotive group in the region, embracing a culture of ownership that empowers employees.
New Leadership and Vision
In 2020, the reins of leadership transitioned to Jeff Niesen, the founder's grandson, who now serves as President. Under Jeff's guidance, the dealership group has expanded to encompass 17 locations, creating significant job opportunities within the community.
Insights from the Sale
Following the transaction, Jeff reflected on the process: "Mark Shackelford, Sr. and Mark Shackelford, Jr. reached out regarding the sale of our Newhall locations. Given that these stores were outside our primary operations, we considered their offer to allow us to reinvest and support growth back home in Wisconsin. Their assistance throughout this journey has been invaluable, and I am grateful for their dedicated communication and support."
Performance Brokerage Services: A Trusted Partner
Over the last several years, Performance Brokerage Services has proven itself as a key player in the automotive dealership sales market, successfully advising on over 300 transactions. Paul Kechnie, Mark Shackelford, Sr., and Mark Shackelford, Jr. collectively served as the exclusive advisors during this deal, bringing their wealth of experience to the table.
Commitment to Excellence
Mark Shackelford, Sr. expressed gratitude for the opportunity to represent Van Horn Automotive Group, emphasizing the firm's commitment to facilitating seamless transitions in dealership ownership and helping businesses thrive.
A New Chapter for Sky Auto Mall
For Yelena and Alex Tovstanovsky, this acquisition marks a significant step in expanding their automotive business footprint. The Tovstanovsky family, driven by their immigrant journey, has achieved remarkable success. They previously acquired Sky Auto Mall in Center Point, showcasing their determination and vision for growth in the automotive sector.
Testimonials and Reflections
Alex shared his positive experience working with the Shackelford team, praising their dedication beyond standard business hours. Their commitment to solving challenges proactively played a perfect role in navigating the sale process smoothly. Alex noted that their professionalism made them a trusted partner for future transactions.
What Lies Ahead for Van Horn Ford and Chevrolet
With the successful transition, Van Horn Ford and Van Horn Chevrolet will soon adopt new names: Sky Ford and Sky Chevrolet. The dealerships will continue to serve customers at their established location in Newhall, ensuring continuity for the loyal clientele.
About Performance Brokerage Services
Performance Brokerage Services, Inc. stands as the leading dealership brokerage firm in North America, specializing in diverse sectors including automotive, RV, and commercial assets. Boasting over three decades of experience, the firm has facilitated the sale of over 900 dealerships, displaying a high closing rate.
The company is known for its distinctive approach to dealership transactions, providing complimentary valuations with no upfront fees. Clients benefit from its extensive regional representation alongside a wide-reaching national network.
Frequently Asked Questions
What is the significance of David Horn Automotive Group's recent sale?
The sale signifies a strategic decision to reinvest in core markets and leverage new ownership for continued growth.
Who are the new owners of Van Horn Ford and Chevrolet?
Yelena and Alex Tovstanovsky of Sky Auto Mall are the new owners.
How has the company's management changed?
Jeff Niesen, the founder's grandson, currently leads the company as President, overseeing its expansion.
What is the role of Performance Brokerage Services?
Performance Brokerage Services acts as the advisory firm, facilitating successful dealership transactions.
When can customers expect changes in dealership names?
The dealerships will officially be renamed Sky Ford and Sky Chevrolet following the transition.
