Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Duell's Evansville Kia and Duell's Evansville Hyundai of Indiana from Doug Duell and Amish Patel. The Kia dealership was acquired by Lou Fusz Automotive Network, and the Hyundai dealership was acquired by Joe Marshall and Barnes Crossing Auto Group.
IRVINE, Calif., Sept. 1, 2022 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Duell's Evansville Kia and Duell's Evansville Hyundai of Indiana from Doug Duell and Amish Patel. The Kia dealership was acquired by Lou Fusz Automotive Network, and the Hyundai dealership was acquired by Joe Marshall and Barnes Crossing Auto Group.
The Duell's Evansville Kia and Hyundai dealerships are located in the Division Street Auto Plaza, less than half a mile from each other. The Kia dealership had been under Duell's ownership for more than 40 years, while the Hyundai dealership was acquired by Duell in 2011.
The Hyundai dealership has been the recipient of several awards including Indiana's #1 Volume Hyundai dealer, Tri-State's #1 Volume Hyundai dealer, and the Hyundai President's Award.
This transaction was exclusively facilitated by Paul Kechnie and Mark Shackelford, Texas & Midwest Partners of Performance Brokerage Services.
Following the sale, Duell commented, "I highly recommend Performance Brokerage Services. Mark Shackelford and Paul Kechnie provided us with professional advice while listing our dealerships for sale. They got us a great deal and also ensured the transaction reached a closing. It is clear they have the connections, knowledge, and experience to create a positive transaction."
Patel echoed his partner's sentiments, sharing, "Mark Shackelford and the team at Performance Brokerage services are remarkable at what they do. Mark kept me updated on any issues as they came up and handled several obstacles professionally and in a timely manner. Mark made the process of selling two dealerships effortless. Mark is now a dear friend of mine, and I cannot wait to see what's ahead for us in future dealings. I am a Mark's customer for life. I would highly recommend Mark and Performance Brokerage to anyone who is considering buying or selling a dealership. You will not regret working with Mark and will also gain a true friend along the way."
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. Mark Shackelford commented, "We would like to thank Doug Duell and Amish Patel for allowing us to handle the sale of their Kia and Hyundai dealerships in Evansville, Indiana. It has been a privilege to represent them and transition their legacy over to new owners, Randy Fusz and Joe Marshall. This was definitely one of the most interesting transactions I have been involved with. In the end, we accomplished what we set out to do and crossed the finish line. We wish the best of luck to Randy Fusz and Joe Marshall with their new dealerships, and we'd also like to thank both of their teams for helping to reach a successful closing!"
The Kia dealership marks the second of its franchise for Lou Fusz Automotive Network. The group has been serving St. Louis and the surrounding areas since 1952 and has remained family owned and operated for the past 70 years, spanning three generations of Fusz leadership. Today, Lou Fusz Automotive Network offers 17 brands across 13 dealerships in Missouri, Illinois, and Indiana.
Randy Fusz, President and COO of Lou Fusz Automotive Network, shared the following, ""I want to thank Performance Brokerage Services for all the hard work they put forth in the completion of our buy/sell with Duell's Evansville Kia. Specifically, the efforts by Paul Kechnie and Mark Shackelford made the process smooth, transparent, and led to the successful transition between companies. As you know, there are many hurdles to overcome during a buy/sell. Manufacturer applications, asset purchase agreements, property inspections, as well as daily communication between parties are all intricate parts of a successful change of ownership. Paul and Mark provided regular updates, necessary access, and completed requests in a manner that kept the transaction private from frontline dealership employees. Handling sensitive information is vital in a buy/sell, and they did it successfully. Lou Fusz is poised for future growth, and we look forward to working together with Performance Brokerage Services on future transactions."
The Hyundai acquisition marks the 14th franchise dealership for Barnes Crossing Auto Group. Established in 2010, the company was formed by the Marshall and Kilpatrick families when they partnered to acquire their first dealership in Tupelo, Mississippi. The group has remained family owned and operated, and has expanded into Tennessee, Alabama, North Carolina, Louisiana, and Indiana. Barnes Crossing currently owns the largest Hyundai and Mazda dealerships in the state of Mississippi.
The Kia dealership will remain at its current location at 4000 East Division Street in Evansville, Indiana and has been renamed Lou Fusz Kia Evansville.
The Hyundai dealership will remain at its current location at 4400 East Division Street in Evansville, Indiana and has been renamed Hyundai of Evansville.
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
Mark Shackelford, Performance Brokerage Services, 330.352.5651, [email protected]
SOURCE Performance Brokerage Services
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