Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Barber Ford of Exeter and Barber Ford of Hazleton in Pennsylvania from Matt DePrimo to Key Auto Group.
IRVINE, Calif., Feb. 15, 2023 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Barber Auto Group's two dealerships, Barber Ford of Exeter and Barber Ford of Hazleton in Pennsylvania, from Matt DePrimo to Key Auto Group.
Barber Auto Group is a fourth-generation, family-owned and operated dealership group with a rich history. The group got its start in 1920 selling automobiles manufactured by Dort Motor Car Company and an early precursor to the Jeep, Willys Overland Cars. The company has reinvented itself many times over the years and has sold and serviced new and used Ford vehicles in the Scranton/Wilkes-Barre area from its Exeter location since 1932. In 1999, the group expanded to a second location in Hazleton.
Matt DePrimo, VP and COO of Barber Auto Group, joined the group in 1984 bringing a wealth of experience from his professional career. Matt's dedication and hard work have been a critical part of the dealerships' success over the last three decades.
"Where do you start when it comes time to sell your 102-year-old family business? The first step is to properly value what it's worth and the second step is to decide whether to hire a broker or sell it on your own. After going through the process, I can now tell you that if you want to get the most money and have someone to guide you through this very complex process, then you want Gershon Rosenzweig and Matt Wilkins of Performance Brokerage Services on your team," said DePrimo. "After spending time exchanging a lot of paperwork and numbers, their valuation was spot on. Their reach and network of buyers were instrumental in finding the right buyer for our dealerships and market. They found a buyer quickly and at a much higher valuation than I would have secured on my own. Not a day went by that they didn't answer my phone calls or texts promptly. There are many ebbs and flows during a buy-sell, and their guidance and advice throughout the whole process was invaluable. The value they added was worth far more than the brokerage fee."
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.
"We truly enjoyed working with Matt DePrimo, whose stores have a rich history. After meeting Matt and his family, we knew we had the opportunity to help hard-working people retire and thankfully, we were able to match them with a first-class buyer in Key Auto Group," said Matt Wilkins, the exclusive agent for the transaction and Northeast Partner at Performance Brokerage Services. "John Leonardi, CEO of Key Auto Group, is one of the best in the business and made our jobs easy. John and his team are building an incredible group and we are grateful to be a part of their growth. We look forward to seeing Key Auto Group's success in the Exeter and Hazleton communities and continuing to support John and his team in the future."
Key Auto Group was founded by owner Anthony DiLorenzo, who started his career in the auto industry in 1986 as an associate at Edwards Toyota. Anthony quickly gained experience and less than a decade later, founded Somersworth Auto Center, which rapidly expanded and evolved into a thriving auto group. Key Auto Group prides itself on valuing employees and promoting from within, and strives to be the most recognized and respected automobile group in the Northeast.
"I have now had the pleasure of closing my fourth transaction with Performance Brokerage Services. It was a pleasure working with Matt Wilkins and Gershon Rosenzweig on this deal and I look forward to more in the future," said John Leonardi, CEO of Key Auto Group. "They put our interests first, work hard to make a complicated process seem easy, and above all else, they are good people. They always make themselves available to answer questions, help resolve issues, and go above and beyond. They took their time getting to know us so they could bring us the right opportunities and never stretched the truth. These guys are unbelievable and will put in the work to earn your trust. They are first on our list and should be first on yours too."
Over the years Barber Auto Group has received many awards and accolades, including the prestigious Ford President's Award, which is presented to the top 5% of Ford dealers in the country for outstanding customer service and sales satisfaction, based on customer surveys.
The dealerships will remain at their current locations at 692 Wyoming Avenue in Exeter and 1112 North Church Street in Hazleton, Pennsylvania and have been renamed Key Ford of Exeter and Key Ford of Hazleton.
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, marine, 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.
Media Contact
Gershon Rosenzweig, Performance Brokerage Services, 201.338.7993, [email protected]
SOURCE Performance Brokerage Services
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