Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Bohn Ford in Harvey, Louisiana from Group 1 Automotive to Mills Automotive Group
IRVINE, Calif., June 6, 2023 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Bohn Ford in Harvey, Louisiana from Group 1 Automotive to Mills Automotive Group.
Bohn Ford services the 200-year old historic town of Harvey, Louisiana, which sits just outside New Orleans. The dealership has maintained an excellent reputation in the local community for friendly, reliable customer service, which will undoubtedly be upheld as the location changes ownership to Mills Automotive Group.
Group 1 Automotive is an international Fortune 300 retailer and leading operator in the automotive industry. Since launching their initial public offering in 1997, the retailer has grown to become the third largest dealership group in the United States and has expanded into the United Kingdom.
Group 1 Automotive sold a staggering 154,714 new vehicles in 2022 and continues to expand with a growth model that prioritizes technology and customer retention in local markets. In 2019, Group 1 launched Accerleride, a cutting-edge digital sales platform that has allowed the organization to improve and streamline customer interactions throughout the sales cycle. Over 70% of customers currently use the platform during a transaction, and the group expects that number to rise in the future.
Group 1 currently ranks number 4 on Automotive News' list of the top 150 dealership groups in the United States and holds the spot as the number 1 auto retailer in Texas. Since entering the market in the United Kingdom, the group has sold a record-breaking number of vehicles as a result of a backlog of demand from Brexit and pandemic lockdowns.
Following the sale, Jamie Albertine, Vice President of Corporate Development commented, "We enjoyed working with George Chaconas and the team at Performance Brokerage Services. George is a consummate professional, one of the most experienced brokers in the industry and has become a great friend throughout our years of working together. We look forward to working with George and his team again in the future. Damian Mills is building one of the foremost dealer groups in the country and both he and his team were great to work with throughout this process. We wish them the best of success in New Orleans and beyond."
Over the last 5 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 2022, the company consummated 92 transactions, marking a record-breaking year. This transaction was exclusively facilitated by Performance Brokerage Services Southeast Office, managed by George C. Chaconas, Senior Partner.
Chaconas commented, "It was a pleasure to work with Jamie Albertine for the first time since he has become the Vice President of Corporate Development for Group 1 Automotive. Jamie and I have known each other for some time from his previous position at Mile One Automotive Group located in Towson, Maryland. I truly appreciated the opportunity to facilitate the acquisition of Bohn Ford to a dear friend of mine, Damian Mills. Damian has developed one of the largest African American-owned automotive groups in the United States. It brought me great joy to assist Damian, a Louisiana native, with another addition to his footprint in the beautiful town of Harvey, Louisiana."
Damian Mills, CEO of Mills Automotive group, is currently one of the most promising and ambitious self-made leaders in the automotive industry. By the age of 25, Mills was working as a finance and insurance manager, and at the age of 28, became a partner at Crown Automotive Group. He purchased his first dealership in 2004, and rapidly began building an empire. Mills Automotive Group was established in Smithfield, North Carolina in 2008. Mills currently sits as the CEO of one of the largest Black-owned dealership group in the United States, with 21 dealerships and counting.
Over the course of his career, Mills has become a role model and an advocate for minorities in leadership positions. Mills formerly sat as President of the Chrysler Minority Dealers Association and has also helped establish a Future Dealers Alliance to provide mentorship to future minority dealership managers.
In 2010, Mills Automotive Group was ranked 224 on the Black Enterprise African American Business Enterprises List, and Mills was featured on the Automotive News "40 under 40" issue in 2013. Mills Automotive Group was also ranked 7th on the Black Enterprise BE100 Auto Dealer List in 2014, 6th in 2016, and 5th in 2017. Mills currently sits as chairman of the board of the National Association of Minority Automobile Dealers (NAMAD) and is passionate about giving back to his local community through the Boys and Girls Club of America. Mills is also known for his generous contributions to charities.
Following his recent acquisition, Mills commented, "I have known George Chaconas of Performance Brokerage Services for almost ten years since he became an active member of NAMAD. It was a pleasure to finally work with George to acquire Bohn Ford in Harvey, Louisiana from Group 1 Automotive. He was very professional, always available and instrumental in helping get this buy-sell done. I highly encourage you to reach out to George and his team at Performance for all your buy-sell needs."
The dealership will remain at its current location at 3737 Lapalco Boulevard in Harvey, Louisiana and has been renamed Ford of Harvey.
Damian Mills was represented by Greg Humphries, Shutts & Bowen LLP in Orlando, Florida.
Group 1 was represented by Brian Nolen of Nolen PLLC in Charlotte, North Carolina.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is North America's highest volume dealership brokerage firm, specializing in buy-sell activity for automotive, RV, commercial truck, powersports, and equipment dealerships.
With over 25 years of experience, 700 dealerships sold, and a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct and integrity.
The company offers a unique approach by providing complimentary estimates of value with no upfront fees or retainer, no reimbursement of costs, and paid a success fee only after the transaction closes.
Headquartered in Irvine, California, and supported by 9 regional offices in Utah, Texas, Illinois, Florida, Virginia, Ohio, New Jersey, Alberta and Ontario, clients benefit from national exposure with local representation.
As trusted and respected experts in the field, the company utilizes an extensive network of industry related attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various vehicle manufacturers.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Media Contact
George C. Chaconas, Performance Brokerage Services, Inc., 813.569.6250, [email protected]
SOURCE Performance Brokerage Services, Inc.
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