Performance Brokerage Services has announced the sale of Star City Motorsports in Lincoln, Nebraska from Robert Kay to John Elway Powersports, and the sale of Platte River Harley-Davidson in Grand Island, Nebraska from Robert Kay to Steve and Jeff Hinchcliff.
Robert Kay has worked in the powersports industry for more than 40 years. An avid motorcycle rider and adventure seeker, he has ridden around the world and also trekked some of the highest mountain peaks, including Mount Everest. In 1997, he relocated his family from Colorado to Nebraska and acquired his first dealership, Star City Motorsports of Lincoln. After many years of continued growth and success at his first dealership, Kay acquired Platte River Harley-Davidson of Grand Island in 2016.
“I was looking to smell the roses, spend more time with my family and friends, and take more adventure trips,” Kay said after the sale. “As I did not have a succession plan, I decided to hire the professional industry experts, George Chaconas and Juan Pardo of Performance Brokerage Services, to help me navigate this life changing decision. Although I wanted to sell my business, I also deeply cared for my staff, and wanted them in the right hands after my exit. The Performance Brokerage team was sensitive to that and brought the right buyers to the table, and I am very grateful to them for this. I have no doubt that I made the right decision to work with George and Juan of Performance Brokerage Services.
Over the last five years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company consummated 72 transactions, marking a record-breaking year.
“I met Robert Kay over five years ago at his dealership in Lincoln,” said George C. Chaconas, the exclusive agent for this transaction and the head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services. “I grew to admire not only his success as a powersports and Harley-Davidson dealer, but also his passion for life and his adventure seeking lifestyle. When the time came to sell his dealerships, I understood that it was not an easy decision, and that we would need to find a unique buyer for each dealership. I am honored that we were able to identify the right buyers that will remain committed to his vision and taking care of his staff. We were also able to maximize the value of the dealerships and capitalize on his many years of building goodwill in the community. We wish Robert all the best on his next adventure!”
John Elway Dealership Group is headquartered in Englewood, Colorado and was established in 2004. In 2021, the company added a Powersports Division and has since expanded to include four powersports dealerships in Colorado. This acquisition marks their first dealership in Nebraska.
“George Chaconas and Juan Pardo of Performance Brokerage Services were great to work with,” said Michael Maledon, partner at Elway Dealership Group. “They understand our growth strategy and always provide valuable market insights.”
Steve and Jeff Hinchcliff own multiple automotive dealerships in Omaha, Nebraska. They acquired Frontier Harley-Davidson in Lincoln, Nebraska, in 2018, and Renegade Harley-Davidson in Springfield, Missouri, in 2021. The Hinchcliffs pride themselves on their customer-centric philosophies, which aligned perfectly with Platte River Harley-Davidson’s culture, making this acquisition a natural fit.
“This is our third Harley-Davidson acquisition with the help of George Chaconas and Juan Pardo of Performance Brokerage Services,” Jeff Hinchcliff said. “We previously acquired Frontier Harley-Davidson in Lincoln, Nebraska and Renegade Harley-Davidson in Springfield, Missouri, and they were instrumental in getting both of those deals done. As we looked at new strategic opportunities for growth, George and Juan introduced us to Platte River Harley-Davidson in Grand Island, Nebraska. They were very involved in every aspect of the buy/sell process and integral in getting it to the finish line. If you are in the market to acquire a Harley-Davidson dealership or are considering selling your dealership, I strongly recommend George and Juan at Performance Brokerage Services.”
Star City Motorsports will remain at its current location at 6600 North 27th Street in Lincoln, Nebraska. Platte River Harley-Davidson will remain at its current location at 2719 South Locust Street in Grand Island, Nebraska and will be renamed Frontier Outpost Harley-Davidson.
Robert Kay was represented by Daniel Kaplan and Derek Aldridge of Perry Law Firm in Lincoln, Nebraska. Jeff and Steve Hinchcliff were represented by Paul Elofson of Fitzgerald Schorr PC in Omaha, Nebraska.