Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Searles Motor Products in Ingersoll, Ontario, Canada from Don Searles of Searles Motor Products to Michael Carmichael of UpAuto
IRVINE, Calif., July 26, 2024 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Searles Motor Products in Ingersoll, Ontario, Canada from Don Searles of Searles Motor Products to Michael Carmichael of UpAuto.
Don Searles, President of Searles Motor Products shared, "Rob Armstrong of Performance Brokerage Services was a great asset to have in my corner during the process of the sale of Searles Motor Products. Rob thoroughly understood the necessary discretion and confidentiality of a sale of this nature for a long-run family business in a small community. He was very sensitive to the emotional nature of selling a business with a 55-year family legacy. He was always available to offer guidance, advice, or even be a sounding board. His understanding and professionalism surrounding the complexity of this transaction was imperative to the success of this deal. I will always be appreciative of Rob's assistance in this transaction and value his friendship. I would highly recommend Rob to anyone considering buying or selling!"
Michael Carmichael, President & CEO of UpAuto, began his journey in the automotive industry at the early age of seven. He would accompany his father to his dealership, initially drawn to the workings of the parts conveyor belt. Over the years, Michael's passion for the industry grew. With a career spanning three decades exclusively within the realm of car dealerships, Michael has held roles in every department, starting from entry-level positions.
In 2016, Michael divested his family's business, City Buick Chevrolet Cadillac, to establish UpAuto. UpAuto now has six dealership locations in Ontario including Easthill Volkswagen, Hanover Honda, Stratford Subaru, Stratford Honda, St. Marys Buick GMC, and Ingersoll Chevrolet Buick GMC.
Michael Carmichael shared, "Working with Rob Armstrong from Performance Brokerage Services was an absolute pleasure. His patience, professionalism, expertise, and dedication made acquiring this new dealership a positive experience. Rob's deep understanding of the industry and commitment to ensuring that both parties communicated effectively and clearly were evident throughout our interactions. He was always responsive and proactive and went above and beyond to address our questions and concerns. I would highly recommend Rob Armstrong and Performance Brokerage Services to anyone looking to acquire or sell a dealership. They truly deliver outstanding service and results."
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. Rob Armstrong, Senior Partner of the Canadian Headquarters for Performance Brokerage Services was the exclusive advisor for this transaction.
Rob Armstrong commented, "It was a pleasure facilitating this transaction on behalf of our client, and my friend Don Searles. Knowing Don since our time together at the Canadian Automotive Institute (now Automotive Business School of Canada), it was a great to be able to walk alongside him and to advise on the transfer of his family legacy. Having known Michael Carmichael and the values of his respected family for almost the same amount of time, it was clear to me that this would be a great fit for these friends that are also clients. UpAuto proved to be the ideal buyer, embodying the family-focused, small-community business ethos that has defined Searles Motor Products for over half a century. I look forward to watching UpAuto continue the Searles legacy and expand their footprint within southwestern Ontario."
Searles Motor Products will be renamed Ingersoll Chevrolet Buick GMC and will remain at its current location at 348 Harris Street in Ingersoll, Ontario in Canada.
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 Burlington, Ontario, and supported by 8 regional offices in Utah, Texas, Illinois, Florida, Virginia, Ohio, New Jersey, and Alberta, clients benefit from North American 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
Rob Armstrong, Performance Brokerage Services, 289.275.7179, [email protected], https://performancebrokerageservices.com
SOURCE Performance Brokerage Services
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