Less than three months after entering the powersports space via acquisition, the Colorado-based Elway Dealer Group has added a second dealership to its footprint.
Here’s the scoop from Tom Macatee at Powersports Listings Mergers & Acquisitions.
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,” said Michael Maledon, Executive VP, Elway Dealer Group.
Powersports Listings Mergers & Acquisitions (PLMA), the professional powersports industry dealership brokerage centrally located in Dallas, Texas, managed the transaction as the Seller's representative with team members:
Tom Macatee, CEO
David Clay, CIO
Jerry Szopinski, President of Sales & Networking
Mike Pate, Managing Director