Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Weimer Volkswagen of Morgantown, West Virginia from the Weimer Family to Chad Martin and Martin Management Group.
IRVINE, Calif., Sept. 13, 2022 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Weimer Volkswagen of Morgantown, West Virginia from the Weimer Family to Chad Martin and Martin Management Group.
The Weimer family, primarily known for their construction, industrial supply, and concrete businesses, surprised some when they decided to enter the automotive industry. Although the Weimer family didn't have experience operating dealerships, they knew what they expected themselves during the car buying process and built their business accordingly. The Weimers pride themselves on doing what is right by the customer, and ensured their salespeople followed the same mentality.
Following the closing, Austen Weimer commented, "While we weren't looking to sell any of our stores, Courtney Bernhard and George Chaconas of Performance Brokerage Services brought an unexpected buyer and made this transaction smooth and easy."
The Weimers will continue to operate their remaining locations in West Virginia and Maryland, with plans to expand in the near future.
Courtney Bernhard of Performance Brokerage Services commented, "My initial calls with Austen were discussing growth plans, as they weren't in the market to sell. However, we knew we had a strategic buyer for their Volkswagen dealership, and they were willing to listen. Austen and his father were an absolute blessing to work with and it's clear after this transaction that they truly live by a 'do the right thing' philosophy. I hope to work with them in the future to continue building their portfolio. I also want to thank Chad Martin and his team at Martin Management Group for their work to get this transaction to the closing, they are a superior organization, and it truly was a team effort to the finish line."
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 2021, the company consummated 72 transactions, marking a record-breaking year. George C. Chaconas, the exclusive advisor for this transaction and the Southeast Partner for Performance Brokerage Services commented, "I got to know Austen Weimer and his father, Dave Weimer, through conversations about acquisitions in West Virginia. We approached them to see if they would consider selling their Volkswagen dealership to a client of ours, Chad Martin, CEO of Martin Management Group, and the rest is history. It was truly a great experience working with both parties, and with the help of my Associate, Courtney Bernhard, we achieved a smooth transaction. I am very grateful that we were able to facilitate this transaction and assist Martin Management with their continued growth in West Virginia, while also helping the Weimers realign their current automotive portfolio. I wish both parties continued success and thank them for the opportunity to be of service."
As CEO of Martin Management Group, Chad Martin has helped develop one of the most successful and respected automobile organizations in the nation since he began leading the company in 2010. Martin grew up in the automotive industry and held positions in various departments of his father's dealerships. Upon taking the reins of the company, Martin set a centralized goal for expansion and growth by focusing on acquiring emerging franchises. Martin has seen incredible success and continues to achieve this goal with their most recent acquisition of Weimer Volkswagen.
Upon the closing, Martin commented, "It was a pleasure doing business with Courtney Bernhard and George Chaconas of Performance Brokerage Services. This transaction, like all buy-sells, had its own series of challenges. But Courtney provided a great line of communication to help the deal sail to a close. The perseverance shown by Courtney and her team is greatly appreciated, and I look forward to working with them again in the near future."
The dealership will remain at its current location at 401 Mary Jane Wood Circle in Morgantown, West Virginia and has been renamed Volkswagen Morgantown.
Martin Management Group was represented by James Cameron III and JD Mason of Cameron Worley, P.C. in Brentwood, Tennessee.
The Weimer Family was represented by C. Seth Wilson of Bowles Rice LLP in Canonsburg, Pennsylvania.
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 7 regional offices in Utah, Texas, Florida, Virginia, Ohio, New Jersey, and Canada, 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
Courtney Bernhard, Performance Brokerage Services, 813-753-7262, [email protected]
SOURCE Performance Brokerage Services
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