One Harley-Davidson dealership owner has decided to sell after 36 years in business, while another has swooped in with the acquisition, putting up a new shingle for the eighth time and the fourth time in the last in the last 14 months.
Here’s how the latest dealership buy-sell transaction breaks down:
Brian’s Harley-Davidson in Langhorne, Pennsylvania, northeast of Philadelphia, has been acquired by Paul Veracka. It’s the fourth dealership acquisition for Veracka over the last 14 months and sixth in the last three years.
“Having the support of a great team on the East Coast has allowed me to expand rapidly to my eighth location and extend the lead over my brother’s West Coast operation of six dealerships,” Veracka said.
Paul Veracka currently operates six of the top 15 new bike volume dealerships in the country. His dealerships have been able to achieve this high sales volume while continuing to maintain a premium customer experience. This is evidenced by the numerous awards including multiple Harley-Davidson Bar & Shield Awards, Powersports Business Power 50 Awards and Best Place to Work Awards won over recent years.
“This is my eighth Harley-Davidson dealership now with the goal to own more,” Veracka added. “I have been able to pay over-market value on several acquisitions in the past few years as I continue acquiring stores. This deal was presented by Brad Hopkins which caused the seller to incur a broker's fee. Typically, I’m able to acquire stores without any brokers due to my knowledge and experience of the process, which allows maximum value to the seller as well as expediting the time to close. I welcome any dealers looking to sell to contact me directly as I will be continuing to expand in 2021.”
Brian’s Harley-Davidson’s previous owner, Brian Bentley, stated, “After 36 years as a Harley-Davidson dealer, I wanted to ensure the current team had the strongest dealer group behind them and have no doubt that they are in great hands under Veracka’s leadership. The transaction itself was quick and smooth with Paul’s experience with Harley-Davidson buy/sell transactions ”
With the recent acquisitions of Brian’s Harley-Davidson and Old Glory Harley-Davidson in September, it has allowed many of the current employees to transfer dealerships and earn promotions. With consistent industry leading training programs and procedures, it makes it easy for an employee to transfer dealerships knowing the new dealership will be operated the same way.
“With the rapid growth in the past year and more to come in the future, I’m also looking for additional staff who want to join an expanding dealer group with room for growth and internal promotions. While we were able to retain all the employees, we are adding to the team as we expand sales and encourage anyone interested in joining the team to apply at www.brianshd.com,” Veracka added.
Collectively, Paul Veracka’s company will sell over 8,000 Harley-Davidson motorcycles this year, continuing to lock in its position as one of the largest Harley-Davidson dealer groups in the world.
Paul Veracka’s company of Harley-Davidson stores now includes:
- High Octane Harley-Davidson in Billerica, Massachusetts
- Palm Beach Harley-Davidson in West Palm Beach, Florida
- Rockstar Harley-Davidson in Fort Myers, Florida
- Motown Harley-Davidson in Taylor, Michigan
- Alligator Alley Harley-Davidson in Sunrise, Florida
- Manchester Harley-Davidson in Manchester, New Hampshire
- Old Glory Harley-Davidson in Laurel, Maryland
- Brian’s Harley-Davidson in Langhorne, Pennsylvania
— Dave McMahon, editor, dmcmahon at powersportsbusiness.com