100-year-old dealership closes doors after retirement incentive buyout
Performance Brokerage Services agent George Chaconas has facilitated the retirement of one of the longest-running dealerships in the country.
With over 100 years in the business with an early start in the motorcycle industry, Tramontin Harley-Davidson was one of the oldest dealerships in New Jersey. It took on its name in 1947 when it officially became a Harley-Davidson dealership run by Arthur “Bub” Tramontin. Strong family ties were amongst many memories shared.
Bob Tramontin, the son of the late owner Bub Tramontin, and retiring dealership owner, said, “After much soul searching and contemplation about selling my family’s Harley-Davidson dealership of over 70 years, I reached out to Buy-Sell industry expert George Chaconas of Performance Brokerage Services. Based on current Buy-Sell market conditions, we were unable to find a qualified buyer. Thus after lengthy negotiations, we were able to reach a retirement incentive buyout with Harley-Davidson Motor Company. I sincerely appreciate George’s hard work, dedication and constant communication throughout the process so I could move forward with retirement in Florida. If you are a long-time dealer and considering selling or doing a retirement buyout with Harley-Davidson, I would highly recommend George Chaconas of Performance Brokerage Services.”
Over the last five years, Performance Brokerage Services has represented for sale over 250 automotive and motorcycle dealerships, making it the highest volume automotive and motorcycle dealership brokerage firm in North America.
Chaconas, the exclusive agent for this transaction and the head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services commented, “Closing a dealership and considering retirement is one of the hardest decisions an owner has to make. Current market conditions and industry influences led to working with the Harley- Davidson Motor Company and ultimately proceeding with the retirement. It was an honor to assist Bob Tramontin in the retirement of his dealership. The motorcycle industry has seen a downturn and hardships and with much thought, retirement was the best option.”
When they were in Clifton 50 years ago, they were great. Recently in the Hope location, not so much. It appeared they didn’t want to be there over the past 5 years or so. I hope someone buys the building and puts a store in it with quality management and personnel.
Careful how you judge a dealership or the owner until you have walked a mile in their shoes or dealt with the factory in the tough times.