Two high-profile Southern California Harley-Davidson dealerships have been sold to Rami Yanni and Wise Auto Group, continuing a series of acquisitions for Wise.
Orange County Harley-Davidson in Irvine and Coronado Beach Harley-Davidson were both owned by veteran HD dealership owner Mark Smith, but they now become a part of the growing Wise Auto Group family. In June, it was announced by Performance Brokerage Services that Yanni and Wise were purchasing Victorville Harley-Davidson in Victorville, California.
According to the Wise Auto Group website, it appears this will be the fourth and fifth HD dealerships in California. It also owns one in Reno, Nevada, as well as 14 automotive dealerships (13 in California and one in Arizona).
Related to the most recent acquisition, here’s the press release from Performance Brokerage Services.
Performance Brokerage Services Advises in the Sale of Orange County Harley-Davidson in Irvine and Coronado Beach Harley-Davidson in National City, California
George C. Chaconas of Performance Brokerage Services, the nation’s leading automotive and Harley-Davidson dealership brokerage firm, is pleased to announce the sale of Orange County Harley-Davidson in Irvine and Coronado Beach Harley-Davidson in National City, California from Mark Smith to Rami Yanni and Wise Auto Group.
No stranger to the motorcycle industry, Mark Smith, has owned and operated three dealerships in Texas since 2006. Most notably, Fort Worth Harley-Davidson, the only store in Texas to earn 2 Platinum Bar & Shield awards and 3 Gold Bar & Shield awards by the Harley-Davidson Motor Company. The store recently completed a 65,000 square foot expansion in 2019 and hosted 4,000 riders for its Grand Opening Rally. Mark commented, “Thank you George Chaconas and Courtney Bernhard at Performance Brokerage Services for another successful dealership closing. This sale allows me to focus more on expanding in my home state of Texas. Thank you, Rami and team, for being such pros through the entire process. Finally, thank you to the outstanding teams at both stores that did an incredible job taking them from where they were when we started to where they are today. Now, I’m excited to pass the torch to Rami and Wise Auto Group so they can continue to take both stores to the next level.”
Over the last 5 years, Performance Brokerage Services has represented for sale over 300 automotive and motorcycle dealerships making it the highest volume automotive and motorcycle dealership brokerage firm in North America. George C. Chaconas, the exclusive advisor for this transaction and the head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services, commented, “After recently selling Victorville Harley-Davidson to Rami Yanni, I reached out to him about acquiring Orange County Harley-Davidson and Coronado Beach Harley-Davidson. Rami quickly stepped up and offered the seller a fair price. Mark Smith stated that it was a win-win-win. Mark received an attractive return on his investment and can now focus exclusively on his Texas market. Wise Auto Group acquired these two great stores, which Mark had taken to the next level. Performance Brokerage Services had the pleasure of working with these two professionals on two more successful closings. Mark Smith was a gentleman. I appreciate his gratitude towards my persistence about selling at the right time and the right price. It was very exciting to help Rami and his CFO, Justin Tinker, at Wise Auto Group expand to their 6th location, and I wish them great success. I look forward to working together in the future.”
These acquisitions bring Wise Auto Group’s total to six Harley-Davidson dealerships. They currently own Death Valley Harley-Davidson in Victorville, Harley-Davidson of Yuba City, Redwood Harley-Davidson in Eureka, California and Reno Harley-Davidson, Nevada. Rami is also a seasoned automotive dealer, owning Chrysler, Dodge, Jeep, Ram, Infiniti, Hyundai, Nissan, Mazda, Buick, GMC, and Volvo franchises. Rami commented, “Having bought two Harley-Davidson dealerships from George Chaconas and Performance Brokerage Services in the past, including my recent acquisition of Victorville Harley-Davidson in California, George called me about acquiring the iconic Orange County Harley-Davidson and Coronado Beach Harley-Davidson. George had been in the middle of negotiations with several very interested and capable parties. I didn’t want to miss out on these two fantastic opportunities, and we quickly negotiated a deal. The rest is history. I want to thank George and his team again for their professionalism and helping us to continue to grow and expand our footprint in California. We are very happy and look forward to taking both dealerships to the next level. If you are considering selling, call George Chaconas!”
The dealerships will remain at their current locations with Orange County Harley-Davidson at 8677 Research Drive in Irvine, California 92618 and Coronado Beach Harley-Davidson at 3201 Hoover Avenue in National City, California 91950.
The seller was represented by Robert Bass and Greg May of Bass Sox Mercer in Tallahassee, Florida.
The buyer was represented by Les Chayo of Chayo Law in Beverly Hills, California with the assistance of Wise Auto Group CFO, Justin Tinker.
Performance Brokerage Services, Inc. is the nation’s highest volume dealership brokerage firm, specializing in intermediary services to buyers and sellers of automotive, motorcycle, commercial truck, RV and equipment dealerships.
Performance Brokerage Services offers a unique approach by providing complimentary dealership assessments, no upfront fees, no reimbursement of costs and is paid a success fee only after the transaction closes.
Clients benefit from utilizing an extensive network of industry related accountants, attorneys, hundreds of registered buyers and longstanding relationships with most of the auto and powersport manufacturers.
With corporate offices in Irvine, California, and 5 regional offices in Utah, Florida, Texas, Virginia and New Jersey, Performance Brokerage Services provides its clients national exposure with local representation.
After 25 years, 700 transactions and with a 90% closing rate, the company’s reputation is unmatched and governed by the utmost ethical conduct, integrity and transparency.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.