Powersports Listings Mergers & Acquisitions Announces New Ownership at Gresham Powersports of Gresham, OR
After 10 years under prior ownership, Gresham Powersports of Gresham, OR, has new ownership for the KTM, Husqvarna, GasGas, Yamaha, and Bad Boy Mowers dealership.
GRESHAM, Ore., June 9, 2023 (Newswire.com) – Power Investments, LLC has acquired Gresham Powersports with principal owners Phillip Saraceno along with his wife Karla Brand-Saraceno. Gresham Powersports boasts a strong brand lineup of KTM, Husqvarna, GasGas, Yamaha, and Bad Boy Mowers and operates from a spacious facility on 1.5 acres in Gresham, Oregon, situated 12 miles east of Portland.
Selling owner Nate DeRoss established the dealership in 2013 and grew the business to sales of more than 1,100 combined new and used units per year. Upon the decision to sell the dealership, Nate contacted Mike Pate, Vice President of Powersports Listings Mergers & Acquisitions (PLMA), for guidance and was engaged by Nate to represent him in the marketing effort and management of a potential buy-sell transaction.
Pate interviewed a number of potential buyers for Gresham Powersports and identified an automotive executive from the neighboring city of Ridgefield, Washington, as the perfect fit to acquire the dealership.
Mike Pate, along with PLMA’s CIO David Clay, were on-site to manage final reconciliations and funding with the closing taking place on June 1, 2023.
Phillip Saraceno stated, “Mike Pate and Powersports Listings made a lifelong dream of mine of owning a dealership come true. They worked hard for us throughout the process and helped us cross the finish line. The insight and knowledge they provided was beyond helpful. Their service is second to none and we’re very grateful to have worked with Mike, David, and their team.”
Mike Pate stated, “Our team has always thrived on the ability to bring in new Powersports owner-operators from other industries. It’s a great feeling to see an entrepreneur launching a dream and another entrepreneur’s dream fulfilled at the same time.”
Powersports Listings Mergers & Acquisitions Announces New Ownership at Wild West Harley-Davidson of Lubbock, Texas
After 17 years under ownership of Larry Hay, Wild West Harley-Davidson has new owners.
PRESS RELEASE JUN 3, 2022 05:00 CDT
LUBBOCK, Texas, June 3, 2022 (Newswire.com) – Mark Magarian along with the existing Wild West Harley-Davidson General Manager Michael Keeton have acquired the assets of Wild West Harley-Davidson of Lubbock, Texas.
The Lubbock Harley-Davidson dealership has roots back to the 1950s and has been at its 58th Street address since 1988. Selling owner Larry Hay (a prominent West Texas entrepreneur, investor, and former Mack Truck dealer) acquired the dealership in 2005 and implemented an aggressive expansion doubling the size of the facility to over 32,000 sq. ft. and constructed a massive 1.25 acre all-concrete rider academy lot. Larry’s decision to retire from the Harley-Davidson dealership operation was not a quick decision, as in fact he has been in communications with the Powersports Listings Mergers & Acquisitions (PLMA) team since 2014. Larry Hay commented, “Selling my dealership was a tough decision, but the Powersports Listings team brought me a deal that made sense and ensures that my employees will be well taken care of.”
PLMA began working with a San Antonio-based entrepreneur, Mark Magarian, who possessed a keen interest in acquiring a Harley-Davidson dealership and the match was made for the Lubbock location. Mark and his wife Heather own and operate one of the most successful pre-schools in Austin, Texas. Mark commented, “My core values are honesty and integrity, taking pride, working hard and being the best, which translates to any business and is tantamount to the Harley-Davidson brand.” Mark made the decision early on to partner with the existing general manager Michael Keeton for the acquisition of Wild West Harley-Davidson. Keeton has been with the dealership since 1993 and was the active GM when Larry Hay purchased the dealership back in 2005 and changed the name from Graves H-D to Wild West H-D. Twenty-nine years later, ownership is a reality for Michael Keeton.
Jerry Szopinski, PLMA’s President of Sales & Networking, managed the introductions and initial deal discussions and commented, “Larry Hay is a friend first as we have been in conversations for many years and I am overjoyed that the timing worked out to do this win-win deal with Mark Magarian.”
Powersports Listings Mergers & Acquisitions Announces New Ownership at Three Family Owned Houston Powersports Dealerships
The Buchman and Bucsanyi Family’s interest dates back to the 1970’s with Texas Yamaha, Inc. (Webster and Texas City) and Texas Powersports of Pasadena and they have now welcomed a new owner – Phillip Orange of Houston MotorsportsPRESS RELEASE MAY 12, 2022 05:00 CDT
HOUSTON, May 12, 2022 (Newswire.com) – Big O Powersports LLC has acquired Texas Yamaha Inc. (2 locations Webster and Texas City) along with Texas Powersports of Pasadena, with its principal owner Phillip Orange of Houston Motorsports expanding his Houston market presence from 1 to 4 dealerships. The Pasadena, Webster, and Texas City acquisition represents a powerful brand lineup including Honda, Yamaha, Polaris, Club Car, Roxor, Husqvarna, and Specialized Electric Bikes from 3 Southeast Houston facilities.
Selling owners Wendy and Craig Buchman and the Bucsanyi Family have a rich history dating back to the 1970s in building the three dealerships as they exist today. Wendy and Craig Buchman were referred to PLMA by Steve Littlefield, a long time associate in the Texas Motorcycle Dealers Association.
Phillip Orange, previously in management with Team Mancuso Powersports, had recently acquired Houston Motorsports in Northeast Houston representing Yamaha, Polaris, Kawasaki, Kymco, Roxor, and Kayo, and was hungry for more locations. Although Powersports Listings Mergers & Acquisitions (PLMA) was working with another buyer, Phillip Orange moved to the front of line with a clear plan to complete the large acquisition of 3 operating dealerships and each facility. “For several weeks, I welcomed Wendy and Craig Buchman as my first call of the day and Phillip Orange as my last call well into the evening,” stated Jerry Szopinski, PLMA’s President of Sales & Networking regarding the process of structuring the deal.
Wendy and Craig Buchman commented “This was a significantly emotional and complex event in our lives and we are incredibly thankful that Phillip Orange was so personable and easy to work with.”
Phillip Orange stated “I am honored to take over this incredible multi-generation family built business. Thanks to Wendy, Craig, and Angel, I have inherited great customers and a phenomenal staff!” Now, Phillip Orange along with his wife Kelli Orange are carrying on the legacy created 50 years ago.
PLMA’s CIO David Clay and CEO Tom Macatee were on site to manage final reconciliations and funding with the closing taking place on April 30, 2022.
Powersports Listings Mergers & Acquisitions Announces New Ownership at I-5 Sports of Albany, Oregon
After more than 10 years under prior ownership, I-5 Sports of Albany, OR, has a new owner that relocated from Texas to take over the Honda, BRP |Can-am, and Polaris dealership.
ALBANY, Ore., May 9, 2022 (Newswire.com) – Deosai Outdoors LLC has acquired I-5 Sports with principal owner Farhan Hasan having moved his family from Texas to Oregon. I-5 Sports boasts a strong brand lineup of Honda, BRP | Can-am, and Polaris and operates from a spacious 29,000-sq.-ft. former Safeway grocery store on three acres in Albany, Oregon, situated 70 miles south of Portland.
Selling owners Larry Sanders and David Pipher have a life-long love of the motorsports industry and took great pride in delivering the best powersports products and services from one of the largest Powersports showrooms in the state of Oregon since 2011. Upon the decision to sell the dealership and spend more free time as outdoor activity enthusiasts, Larry and David visited powersportslistings.com for guidance, and Mike Pate, Vice President of Powersports Listings Mergers & Acquisitions (PLMA), was hired to represent them in the marketing effort and management of a potential buy-sell transaction.
Pate interviewed a number of potential buyers for I-5 Sports and a corporate executive and a retail – tech entrepreneur from Dallas, Texas, stepped up as the perfect fit albeit requiring his family to relocate over 2,000 miles away.
Farhan Hasan stated, “I feel very fortunate to have found such an amazing business opportunity in an industry built on fun to provide for my family. PLMA’s ability to showcase this business along with establishing a relationship with the incredible owners Larry Sanders and David Pipher made this an easy decision for me. I see great things happening in Powersports in the Pacific Northwest.”
Larry Sanders stated, “I was amazed by the reach of PLMA to find the perfect buyer that is not currently a dealership operator and more than 2,000 miles away. They were professional and knowledgeable all the way and we wish Farhan and his family new levels of success in powersports.”
New Ownership at Wild West Motorsports-Greeley Harley-Davidson in Greeley, Colorado
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) assists the Elway Dealer Group (the company of NFL football legend and leading American auto dealer John Elway) in the purchase of the assets of its third Powersports Dealership – Wild West Motorsports-Greeley Harley-DavidsonPRESS RELEASE DEC 10, 2021
GREELEY, Colo., December 10, 2021 (Newswire.com) – Elway Powersports has purchased Greeley Harley-Davidson–Wild West Motorsports, which marks its third powersports acquisition this year. Greeley Harley-Davidson–Wild West Motorsports hosts a compelling brand line up of Harley-Davidson, Honda, Polaris, and Yamaha on a single flagship complex in Greeley, Colorado. With roots dating back to 1968, the dealership has over 50 years of history in Northern Colorado and has been under the ownership of Steve Risdal ‘Ris’ since 2002.
Upon Steve Risdal’s decision to retire, he enlisted the services of Powersports Listings M&A (PLMA), who produced several interested candidates for the dealership. The cream soon rose to the top with the John Elway Dealership Group (Elway) as Michael Maledon, President of Elway Powersports, and business partner Bill Johnsen ran the ball on the purchase opportunity of the 48,000 sq. ft. showplace on over 4 acres along US Hwy 34.
Michael Maledon commented: “When we heard ‘Ris’ was planning his retirement, we jumped at the opportunity. This is a great addition that will complement our other two powersports dealerships in Northern Colorado. By adding Harley-Davidson, Polaris, and Yamaha, Elway Powersports now represents eight of the top brands in the industry. Moreover, similar to our previous two acquisitions, we inherit a terrific staff of people.”
Mr. Risdal commented: “Everyone I’ve met on the Elway team has impressed me. It’s a class organization, and it alleviates a great deal of stress knowing my employees of nearly 20 years remain in great hands!”
The buy-sell transaction closed on Tuesday, Dec. 7, 2021, with on-site help from Tom Macatee, David Clay, and Mike Pate of the PLMA organization and the Elway Dealer Group company took over operational control as Elway Powersports, LLC the same day.
New Ownership at Black Cat Harley-Davidson in Rocky Mount, NC
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) assists entrepreneurs Kevin Walsh and Vincent Talbert in the purchase of the assets of their first Harley-Davidson dealershipPRESS RELEASE NOV 15, 2021
ROCKY MOUNT, N.C., November 15, 2021 (Newswire.com) – Black Cat Harley-Davidson of Rocky Mount, NC is situated approximately 50 miles northeast of Raleigh, NC. Formerly Rocky Mount H-D, the dealership has been under ownership of the Cole Family since February of 2017. The Cole Family operates one of the largest Harley-Davidson dealership groups in the United States with 5 locations east of the Mississippi River. The Cole Family accomplished such accolades with the Black Cat H-D location as the 2018 Powersports Business Power 50 recognition and the 2019 Harley-Davidson Gold Bar & Shield award.
Upon being hired by Cole to confidentially market Black Cat Harley-Davidson for sale, PLMA President of Sales and Networking, Jerry Szopinski, began discussions with Kevin Walsh, a business owner / entrepreneur that was in the process of the sale of his Aviation industry training business in Maryland. Walsh, as a lifelong Harley-Davidson enthusiast in need of a new solid business to operate, was a perfect fit for the acquisition of Black Cat Harley-Davidson. Walsh and his partner Vincent Talbert came up with the name change to Flying Iron Harley-Davidson fitting with their aviation background.
The buy-sell transaction closed on Tuesday, November 9, 2021.
“PLMA went above and beyond to support us with our first dealership purchase. Their time spent with me to navigate a number of ups and downs with the process kept the deal alive.” – Kevin Walsh, Owner, Flying Iron Harley-Davidson
“Powersports Listings M&A delivered a high level of professionalism during the entire process. They were a joy to work with!” – Charlie Cole, Owner, Black Cat Harley-Davidson
New Ownership at Interstate Honda in Fort Collins, Colorado
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) assists the Elway Dealer Group (the company of NFL football legend and leading American auto dealer John Elway) in the purchase of the assets of its second Powersports Dealership – Interstate HondaPRESS RELEASE UPDATED: AUG 3, 2021
FORT COLLINS, Colo., August 3, 2021 (Newswire.com) – Interstate Honda, a leading Colorado Honda powersports and power equipment dealership located on I-25 in Fort Collins, Colorado, is under new ownership after 10 years under owners Fred MacDonald and Shelley Barber with an ongoing mantra, “There isn’t a friendlier or more knowledgeable powersports dealership staff than that of Interstate Honda.”
The PLMA President of Sales and Networking, Jerry Szopinski, managed the confidential marketing effort and successfully connected with Michael Maledon, Executive VP of the Elway Dealer Group, to negotiate a deal for the purchase and sale of Interstate Honda.
This acquisition marks the second Powersports dealership to join John Elway’s house of six automotive dealership locations in Colorado and California. The Elway Dealer Group operates its dealerships with a World-Class roster of over 1,000 individuals who demonstrate a passion for exceeding the expectations of customers while selling over 18,000 and servicing over 100,000 vehicles each year.
The buy-sell transaction closed on Monday, August 2, 2021, and the Elway Dealer Group company PS CO2, LLC took over operational control the same day.
“PLMA’s ability to fully support the powersports specific buy-sell process is a big reason we got two deals done in just a few months.” Michael Maledon, Executive VP, Elway Dealer Group
“Powersports Listings M&A is simply a remarkable team with major talent for the buy-sell process!” Shelley Barber, former owner of Interstate Honda
Powersports Listings Mergers & Acquisitions Announces New Ownership at Northern Colorado Powersports in Fort Collins, Colorado
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) assists the Elway Dealer Group (the company of NFL football legend and leading American auto dealer John Elway) in the purchase of the assets of its first Powersports Dealership – Northern Colorado PowersportsPRESS RELEASE UPDATED: JUN 8, 2021
FORT COLLINS, Colo., June 8, 2021 (Newswire.com) – Northern Colorado Powersports (NOCO), a leading BMW, Triumph, and BRP (can-am, sea-doo, ski-doo) dealership located on I-25 in Fort Collins, Colorado is under new ownership after 13 years under owner Michael Hendry who purchased the dealership as a BMW only operation in 2008 at a former Loveland, CO location. Hendry added the Triumph Motorcycles line in 2008 and moved the dealership to its current Fort Collins location in 2013 which provided the additional space to add the full BRP lineup (can-am, sea-doo, and ski-doo). Michael Hendry together with his son Brad Hendry as the onsite General Manager, operated NOCO with a stated mission of “building lasting relationships with our partners and employees while serving the recreational and travel community with core values of Honesty, Integrity, and Service to the Community.”
In a decision to retire, Hendry, a long time successful powersports dealership operator of multiple locations in Colorado contacted Mike Pate, Managing Director of PLMA, to consider handling the sale of his dealership assets in Fort Collins, Colorado. Mike Pate accepted the assignment and successfully connected with Michael Maledon, Executive VP of the Elway Dealer Group and hammered out a deal for the purchase and sale of NOCO.
This acquisition marks the first Powersports dealership to join John Elway’s house of six Automotive dealership locations in Colorado and California. The Elway Dealer Group operates its dealerships with a World Class roster of over 1,000 individuals who demonstrate a passion for exceeding the expectations of customers while selling over 18,000 and servicing over 100,000 vehicles each year.
The buy-sell transaction closed on Monday, June 7th 2021 and the Elway Dealer Group company PS CO1, LLC took over operational control the same day.
“We are unbelievably excited to welcome the Elway Dealer Group to our Powersports Industry.” Tom Macatee, PLMA CEO
Powersports Listings Mergers & Acquisitions Announces New Ownership at Southern Thunder Harley-Davidson in Southaven, Mississippi
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) assists American entrepreneur and philanthropist Bob Parsons in the sale of Southern Thunder Harley-Davidson to predominant Harley-Davidson dealership operator, Dale Rhoads, owner of DEFCON PowersportsPRESS RELEASE UPDATED: APR 21, 2021
SOUTHAVEN, Miss., April 21, 2021 (Newswire.com) – Southern Thunder Harley-Davidson (STHD), a leading Harley-Davidson dealership located 15 minutes south of Memphis, Tennessee, is under new ownership after renowned American entrepreneur and philanthropist Bob Parsons engaged Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com) to facilitate the sale of the dealership. STHD now joins Dale Rhoads-owned DEFCON Powersports (DEFCON) (defconpowersports.com), with Harley-Davidson locations in Tulsa, OK, St. Paul, MN, Eden Prairie, MN, Lakeville, MN, Blaine, MN and Wichita, KS.
Parsons and Gina Marra, Vice President overseeing Parsons’ powersports operation, attribute the decision to sell STHD to their strategy to expand and focus on their Arizona-based ventures, which include Harley-Davidson of Scottsdale (hdofscottsdale.com), the world’s largest Harley-Davidson dealership at 150,000 square feet, and GO AZ Motorcycles (goazmotorcycles.com).
In the last two years, the GO AZ Motorcycles family of dealerships has doubled with the addition of stores in Cottonwood and Flagstaff joining the recently expanded Scottsdale and Peoria locations. The group is currently in progress on another GO AZ Motorcycles’ acquisition expected to also finalize soon.
“As the number of dealerships in Arizona continues to grow, it becomes an even greater challenge to manage Southern Thunder Harley-Davidson remotely,” stated Marra. “Bob and I feel that the decision to sell at this time, and to this particular buyer, is what’s best for both Southern Thunder Harley-Davidson and the staff in Southaven.”
Parsons purchased STHD in 2013 from, then majority owner, Lisa Rossmeyer-Wade, a transaction in which PLMA assisted as seller representative.
PLMA’s Jerry Szopinski, President of Sales & Networking, has maintained a longstanding relationship with Dale Rhoads and identified him as a great fit for the acquisition of STHD. After several weeks of analysis and negotiations, a deal was struck to acquire all operating assets and three parcels of real property included in the massive Southaven, Mississippi dealership complex. This acquisition marks the seventh dealership location for DEFCON and further solidifies its massive Harley-Davidson dealership footprint in the United States’ central time zone and is projected to propel the enterprise to more than $120MM in annual revenue with a clear vision stated by Dale Roads that “EXCEEDING EXPECTATIONS IS OUR BUSINESS.”
Powersports Listings Mergers & Acquisitions Announces New Ownership at Cape Cod Harley-Davidson in Pocasset, MA
Powersports Listings Mergers & Acquisitions (PLMA) (powersportslistings.com), the professional powersports industry dealership brokerage, specializes in intermediary services to buyers and sellers of Harley-Davidson, Powersports, RV, Green Industry Implement, and Marine dealerships. PLMA announces the closing of the asset sale and ownership transfer of CAPE COD HARLEY-DAVIDSON (Pocasset, MA)PRESS RELEASE UPDATED: SEP 24, 2020
POCASSET, Mass., September 24, 2020 (Newswire.com) – Cape Cod Harley-Davidson (CCHD), as its name implies, is located in the beautiful Cape Cod region of coastal Massachusetts. CCHD’s main location sits in the Pocasset village-town of Bourne (the Upper Cape) considered the gateway to Cape Cod. This main location sells and services the full line-up of new Harley-Davidson motorcycles, used motorcycles, genuine H-D parts, accessories, and motorclothes. The operation also includes a seasonal Alternate Retail Outlet (“ARO”) in nearby Hyannis, an approximate 25-mile drive from the main location selling licensed Harley-Davidson apparel and other collectibles.
The former owners having purchased the dealership circa 2006, came to a decision in 2019 to focus on other investments and contacted Powersports Listings M&A (PLMA) to confidentially market the business and manage the transaction. PLMA’s Jerry Szopinski, President of Sales & Networking, and Jenny Fox, Account Intermediary, led the marketing effort which identified Michael Keehan (Mike), an accomplished Harley-Davidson dealership operator in the state of Connecticut, as a viable suitor. Mike was in the process of selling his own partnership interest in his CT dealership which allowed him to focus full time on the Cape Cod acquisition along with new business partners Ron Gronback, the president and CEO of a CT based Aerospace Component Manufacturer and Robert Szymanowski, former CT GM and current partner in Cape Cod.
The buy-sell transaction was closed on Tuesday, Sept. 15, 2020, with the help of David Clay and Tom Macatee of Powersports Listings M&A on-site at the dealership to assist with final reconciliations and construction of the closing statements. Mike’s first day of operations as the new owner kicked off on Wednesday, Sept. 16.
While many business buyers have retrenched during the COVID-19 pandemic, Mike Keehan, Ron Gronback, and Robert Szymanowski each possessed the courage to stay the course which I believe will pay off very well for them.
South Carolina’s Largest Powersports Dealership Gets New Ownership
Powersports Listings M&A rolls into 2020, showing that young entrepreneurs are in the market for Powersports / Motorcycle dealership acquisitions
MYRTLE BEACH, S.C., February 24, 2020 (Newswire.com) –Redline Powersports of Myrtle Beach, South Carolina is now under new ownership. Jonathan Waters (Buyer and new owner) is a self-described entrepreneur and businessman to the core. This is evidenced by his creation of his own motor vehicle fix and flip operation at 16 years of age. His adult working experience includes Quality Control Management at Briggs and Stratton; Finance Management, Sales Management and General Management roles across retail dealership brands including Honda, Yamaha, Kawasaki, Polaris, Suzuki, Chrysler, Jeep, Dodge Ram, and most recently Toyota. His entrepreneurial knack for fix and flip graduated into residential real estate outside of normal business hours.
Jonathan purchased the 51,500 square foot flagship Honda, Yamaha, Polaris, BRP-Can-am-SeaDoo-Spyder, Kawasaki, and Suzuki dealership from industry veteran Larry Brooks. Larry still owns and operates Commonwealth Powersports, a Honda, Yamaha, Polaris-Slingshot, Kawasaki and Suzuki dealership in the Richmond, Virginia area.
After 33 years in the industry and operating two large dealerships 300 miles apart for more than a decade, Larry’s professional schedule had him spending much of his time in Virginia and had expanded into additional business interests outside of powersports. This logistical challenge eventually compelled Larry Brooks to sell his Myrtle Beach operation. Industry references recommended that he hire Powersports Listings M&A (PLMA) to manage his sale and Larry followed that recommendation.
PLMA worked diligently for nearly two years to find the right candidate for the purchase. Jerry Szopinski, PLMA’s President of Sales, commented, “It often takes more time to find a buyer for the larger multi-line dealerships, and our portfolio of over 30 correlated dealership listings provides the necessary pipeline to make those deals happen.”
Jonathan Waters nearly purchased two Atlanta-area dealerships through PLMA in early 2019. Even though that transaction did not come to fruition, Jonathan’s positive experience with the PLMA team motivated him to stay in the pipeline for another powersports dealership opportunity. Once the introduction was made with Larry Brooks in late 2019, the buy-sell transaction was on a rock-solid path to closing with PLMA’s guidance.
Jonathan Waters stated, “PLMA’s expertise was incredible in providing the support I needed from the deal negotiation, legal and accounting references, OEM applications, business plans, and the list goes on.”
Larry Brooks commented at closing, “In working with PLMA for nearly two years, I fully appreciate their tenacity and the fact that they saw everything through to the final hour of closing. They even hosted a celebration dinner. Job well done.”
Top Michigan Honda Powersports Dealership Gets New Ownership
MONROE, Mich., February 5, 2020 (Newswire.com) – John Carr, a lifelong Monroe, Michigan, resident and avid powersports enthusiast began Trojan Powersports in 2010 by adding the full range of Honda vehicles (Motorcycles, ATVs, UTVs, and Scooters) to his thriving used powersports vehicle dealership. Within a few short years, John grew Trojan Powersports into a top Michigan Honda powersports dealership, selling over 500 vehicles per year.
After a decade of the fast-paced world as a Honda powersports dealership owner, John decided to explore the possibility of selling his business to spend more time with his family. John Carr was familiar with the Powersports Listings M&A (PLMA) firm, having sold other powersports dealerships in his market area over the past many years, and contacted Jerry Szopinski, PLMA’s President of Sales & Networking, for an initial consultation on the market potential for a sale. PLMA has observed a current trend of more young entrepreneurs exploring business ownership in the powersports dealership market and Jerry explained that this could benefit John Carr as a seller.
Within a few months, PLMA had identified several potential buyers. Robert Weir of Rochester, Michigan, a young and successful automotive executive whose background includes serving as Head of Motorsports for Subaru of America and Performance Brand Manager at Fiat Chrysler Automobiles, arose as the right fit at the right time to acquire Trojan Powersports.
As a new entrepreneur entering the arena of Powersports dealership ownership, PLMA was instrumental in assisting Robert with the full gamut of the acquisition process including agreement structure, financing options, manufacturer applications, and business planning.
Robert Weir took over operations of Trojan Powersports the second week of January 2020 and is in full swing of applying his corporate-level marketing skillsets to take the Honda dealership to the next level. The acquisition included all of the operating assets of the dealership along with the real estate, including the 1.3-acre property with two facilities.
Robert stated, “I am excited to bring my automotive and racing experience to the powersports industry and will continue to keep Trojan Powersports as the #1 Honda dealer in Michigan. I appreciate the guidance and advice from the team at PLMA for making this acquisition a success.”
John Carr commented at closing, “I hand-painted the red Honda stripe all the way around this showroom when I first moved into this facility. In thinking about all of the sweat and energy I have invested in this dealership, I am so appreciative of PLMA for delivering a great transition for Trojan Powersports.”
Yamaha, Polaris, KTM Dealership in Wenatchee, Washington Gets New Ownership
Powersports Listings M&A announces the purchase of Wenatchee Powersports by Brandon Montgomery of Cle Elum, Washington
PLMA’s marketing efforts identified Brandon Montgomery a construction industry professional and powersports on road, off road, and build enthusiast out of nearby Cle Elum, Washington as a perfect fit for the Wenatchee Powersports purchase.
Jerry Szopinski, PLMA President of Sales & Networking, managed the confidential introductions and meetings between the buyer and seller and the deal started to come together. Tom Macatee, PLMA CEO, personally managed the initial offer and purchase agreement negotiations and a formal deal was struck between Melanie Wilhoite and Brandon Montgomery paving the way for the ownership change.
David Clay, PLMA CIO, assisted Brandon Montgomery and his partners throughout the OEM application process and business plan construction to assure that time lines remained on track for the targeted closing date with necessary approvals from Yamaha, Polaris, and KTM.
Melanie Wilhoite further commented “PLMA took a lot off of my plate and was well worth their success fee. Representation by a broker that understands the business can make the difference between crossing the finish line or breaking down along the way. David Clay flew to the dealership for the closing and assisted on site with the final reports, calculations, and was my liason to the Buyer and attorneys. PLMA GETS IT!”Melanie Wilhoite, Selling Owner, Wenatchee Powersports
Powersports Listings Mergers & Acquisitions Attracts Successful Private & Venture Equity Executive & Entrepreneur for the Asset Acquisition of CHESTER’S GRAND TETON HARLEY-DAVIDSON of Idaho Falls, Idaho
GRAND TETON HARLEY-DAVIDSON consists of a main Harley-Davidson dealer location in Idaho Falls, Idaho with secondary retail locations in Jackson, WY and Pocatello, ID under the names JACKSON HOLE HARLEY-DAVIDSON and EAGLE ROCK HARLEY-DAVIDSON respectively.
Jerry Szopinski, Powersports Listings Mergers & Acquisitions (PLMA) – President of Sales & Networking, established a sturdy relationship with the ownership group of the Chester’s H-D dealerships beginning in 2009, and all the while consulting with them around buy-sell opportunities that might be interesting to this multi-unit Harley-Davidson dealership enterprise.
The owners contracted with PLMA when it came time to move from buying mode to selling mode after 15+ years of successful ownership at the Grand Teton Harley-Davidson locations in Idaho Falls, ID; Jackson, WY; and Pocatello, ID.
Through many weeks of confidential marketing, the PLMA team identified Greg and Mary Woodward of Salt Lake City, Utah as ideal candidates for the unique acquisition of the three store package. Greg Woodward has a long track record of success as a business operator and has built and scaled several businesses in the private equity investment arena. He has served in several executive positions with private and venture equity fund operators and currently manages his own family investment fund.
Greg and Mary have been long time Harley-Davidson enthusiasts in addition to a long list of “awesome” hobbies such as racing Porsches, building show quality cars, and collecting historical motorcycles.
The Woodward family closed on the purchase of the assets of the dealerships and took over operations as of Oct. 1, 2019. The Woodwards will retain the names Grand Teton Harley-Davidson, Jackson Hole Harley-Davidson, and Eagle Rock Harley-Davidson with the retirement of the “Chester’s” header. With the stores’ proximity to some of the best motorcycle roads in the world, the Woodwards plan to establish the dealerships as “must stop” destinations for motorcyclists and tourists. Greg Woodward commented at the closing of the sale that “The PLMA team clearly has a command of the Harley-Davidson dealership sale and acquisition process.”
The PLMA team clearly has a command of the Harley-Davidson dealership sale and acquisition process.Greg Woodward – Owner, Grand Teton Harley-Davidson