Powersports Listings Mergers & Acquisitions assists Jeff Cheek with the sale of his Renton, Washington, Harley-Davidson dealership location. The Motorcycle Company changes the name to JET CITY Harley-Davidson and soon will add the LIVE WIRE Electric motorcycle lineup.
RENTON, Wash., November 14, 2018 (Newswire.com) – Harley-Davidson dealership owner-operator veteran Jeff Cheek sought the help of Powersports Listings Mergers and Acquisitions (PLMA) to confidentially pursue the sale of his Renton, Washington, location as the result of a personal decision to streamline the coast-to-coast travel he had been undertaking for several years. Cheek and PLMA had successfully worked together on several dealership transactions over the last 10 years.
PLMA, being in constant communication with active dealership groups, made the match one day while having a strategic discussion with Michael, Paul and Dave Veracka. Tom Macatee, CEO of PLMA, personally managed the deal negotiations and the big-league buyer and seller were able to come to terms.
“The Verackas were looking to expand into the Pacific Northwest and the timing was perfect for us as we looked to exit the Harley-Davidson business in Seattle. We were able to discuss a potential transition and agreed to terms in less than two weeks. Their experience in the Harley-Davidson industry as world-class operators made the transaction simple and straightforward. We closed and transferred ownership in less than two months. I’ve been involved in the Harley-Davidson industry for decades and this has been one of the quickest and easiest transitions I’ve seen. Once again Powersports Listings M&A, as the intermediary, delivered a great experience and excellent transaction process. This team does a great job for the dealer on both sides of the transaction,” stated Lawless H-D owner Jeff Cheek.