Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Renegade Harley-Davidson in Springfield, Missouri from Jeff and Steve Hinchcliff of H+H Group to Ed Morse Automotive Group
IRVINE, Calif., Sept. 25, 2024 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Renegade Harley-Davidson in Springfield, Missouri from Jeff and Steve Hinchcliff of H+H Group to Teddy Morse of Ed Morse Automotive Group.
H+H Group was founded in 1930 by Augie Hinchcliff when he partnered to open H+H Chevrolet in South Omaha, Nebraska. Augie's grandson, Steve Hinchcliff, joined the business at age 14, working various positions during high school. After earning his college degree from the University of Nebraska-Lincoln, Steve Hinchcliff became General Manager in 1988, and two years later, became Dealer Principal. Today, he oversees the H+H Group with his son, Jeff Hinchcliff, which includes four automotive dealerships in Omaha, Nebraska representing BMW, Mini, Jaguar, Land Rover, Chevrolet, Kia, Chrysler, Dodge, Jeep, and RAM.
After the sale of Renegade Harley-Davidson, Jeff Hinchcliff commented, "In our strategic decision-making process to consider exiting the Harley-Davidson business in Missouri, there was only one broker we would consider. That was Juan Pardo, George Chaconas, and the Performance Brokerage Services team. They brought us a very qualified buyer, Teddy Morse of the Ed Morse Auto Group. I would like to thank Juan Pardo for his professionalism and perseverance in helping us get the deal to the finish line, and I wish Teddy Morse and his team the best of luck and continued success as they grow their Harley-Davidson dealership portfolio."
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. George C. Chaconas, Senior Partner, and Juan Pardo, Partner of the Harley-Davidson & Powersports Division for Performance Brokerage Services were the exclusive sell-side advisors for this transaction.
Ed Morse Automotive Group was founded almost 80 years ago by Ed Morse and his father. Before entering the automotive industry, Ed Morse served in the U.S. Army Air Corps, and after the war, worked as a doorman, arranging rental cars for guests at the Coronado Hotel in Miami Beach. In 1946, Ed and his father launched Morse Motors, starting with a fleet of 20 rental cars. The business grew to 2,000 vehicles, leading to a merger with National Car Rental, where Ed became CEO.
In 1961, the Morse family acquired their first dealership, Cecil Holland Ford in Miami, which soon became Ed Morse Ford. Over the next 50 years, Ed and his son, Ted, led Ed Morse Automotive Group to become one of the largest family-owned automotive dealer groups in the country, with over 50 locations across the United States.
Ed Morse Automotive Group is ranked #53 on the 2024 Automotive News Top 150 Dealership Groups based on 2023 new vehicle retail sales units. Ted's son, Teddy Morse, serves as Chairman and CEO, continuing the family legacy. Randy Hoffman serves as the Chief Operating Officer, managing the day-to-day operations. Together, Randy Hoffman and Teddy Morse oversee the continued expansion of their dealership network.
Randy Hoffman shared, "We have utilized the services of Performance Brokerage Services several times. When George Chaconas and Juan Pardo bring us an opportunity, we listen. Performance Brokerage Services knows what we are looking for. They bring value and offerings to our existing portfolio of dealerships that are always worthy of consideration. Performance Brokerage Services has been a vital part of our successful growth."
After the sale, Juan Pardo remarked, "I would like to thank Jeff and Steve Hinchcliff for the opportunity to represent them in the sale of Renegade Harley-Davidson. Having recently worked with them on the sale of Frontier Harley-Davidson, it was important we not only found a qualified buyer, but also someone who could move through the buy-sell process in a timely manner. I wish Jeff and Steve the best of luck in all their future endeavors, and I wish Teddy Morse and Randy Hoffman continued success at Renegade Harley-Davidson."
George Chaconas shared, "I have not only had the pleasure of representing Steve and Jeff Hinchcliff on the acquisition and sale of their four Harley-Davidson dealerships, but I have also represented Teddy Morse of Ed Morse Automotive Group on their acquisitions of three Harley-Davidson and powersports dealerships in Texas. It has been an honor and a privilege to work with both parties over the years. I would like to congratulate Teddy Morse and Randy Hoffman on acquiring another Harley-Davidson dealership through us. I want to personally thank Randy for his professionalism, experience, and ability to work as a team to make this a smooth transaction. I wish both parties huge success and appreciate the opportunity to be of service."
Renegade Harley-Davidson will be renamed Teddy Morse's Renegade Harley-Davidson and will remain at its current location at 3980 West Sunshine Street in Springfield, Missouri.
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 30 years of experience, 900 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, 813.569.6250, [email protected], https://performancebrokerageservices.com
SOURCE Performance Brokerage Services
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