Elway Group acquires first Harley-Davidson dealership
Elway Powersports has purchased Greeley Harley-Davidson and Wild West Motorsports in Greeley, Colorado, its third powersports acquisition this year. The H-D store is being renamed John Elway’s Harley-Davidson.
Greeley Harley-Davidson and Wild West Motorsports hosts a compelling brand lineup of Harley-Davidson, Honda, Polaris and Yamaha on a single flagship complex in Greeley. 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 “Ris” Risdal since 2002.
Upon 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, 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 four acres along US Hwy 34.
“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,” Maledon said. “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.”
“Everyone I’ve met on the Elway team has impressed me,” Risdal said. “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, with on site help from Tom Macatee, David Clay and Mike Pate of the PLMA organization. The Elway Dealer Group company took over operational control as Elway Powersports, LLC the same day.
Powersports Listings Mergers & Acquisitions (PLMA), the professional powersports industry dealership brokerage centrally located in Dallas, 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, vice president; and Jaye Sanders, managing director.
