Powersports Listings Mergers & Acquisitions (PLMA), the professional powersports industry dealership brokerage that specializes in intermediary services to buyers and sellers of Harley-Davidson, powersports, RV, OPE and marine dealerships, announced the closing of the asset sale and ownership transfer of Cape Cod Harley-Davidson in Pocasset, Massachusetts.
Cape Cod Harley-Davidson is located in the Cape Cod region of coastal Massachusetts. Its 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 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 that identified Michael Keehan, an accomplished Harley-Davidson dealership operator in Connecticut, as a viable suitor.
Keehan was in the process of selling his own partnership interest in his Connecticut 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 Conneticut-based aerospace component manufacturer and Robert Szymanowski, former Connecticut dealership GM and current partner in Cape Cod Harley-Davidson.
The buy-sell transaction closed on Sept. 15 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. Keehan’s first day of operations as the new owner was 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,” Macatee said.