Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Subaru of Midland Odessa in Texas from Bob Moore Auto Group to Cavender Auto Family.
IRVINE, Calif., Dec. 15, 2023 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Subaru of Midland Odessa in Texas from Bob Moore Auto Group to Cavender Auto Family.
Bob Moore Auto Group began in the 1950's when Robert W. Moore opened Bob Moore Oldsmobile in Wichita, Kansas. After relocating to Oklahoma City, Moore purchased one of the oldest Cadillac dealerships in 1970. In 1998, Bob's son, Mark Moore, stepped into his father's role of President and Chief Executive Officer, carrying on the family legacy and growing the business. The group has since expanded to operate a network of 15 dealerships in Oklahoma and has become the largest privately-owned auto group in the state.
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. Paul Kechnie, Senior Partner, and Eric Scott, Partner of the Texas & Midwest Office for Performance Brokerage Services were the exclusive advisors for this transaction.
Eric Scott shared, "We have had a long relationship with Mark Moore at Bob Moore Auto Group. It will be our second closed transaction with them just this year, and it's a true pleasure to work with Mark and his team. I had the opportunity to work closely with Shannon Hutton, Chief Financial Officer for Bob Moore Auto Group, who is incredibly professional, concise, timely, and made the transaction seamless. Bob Moore Auto Group was happy to divest and concentrate their efforts in the Oklahoma area. Finding Cavender Auto Family made for the perfect buyer." Scott added, "I have known the Cavender family for over 20 years. During the transaction, I worked closely with Jon Briggs, Chief Financial Officer of Cavender Auto Family. He was extremely professional and a delight to work with. Cavender Auto Family was very happy to acquire this dealership to expand their platform in the Midland Odessa area, and it was extremely rewarding finding the perfect buyer for Bob Moore Auto Group."
Cavender Auto Family has been in business since 1939, proudly servicing Texas and Oklahoma. It all started when James Cavender bought a local Oldsmobile dealership in San Antonio, Texas. James' twin sons, Jimmy and Billy, joined their father at the dealership, learning as much as they could about the business. In 1979, they worked together to acquire a Cadillac dealership, allowing both Jimmy and Billy to each manage a dealership. Third generation Cavender family members, Stephen and Rick, entered the automotive industry in the mid-1980's, and are currently leading the group. As of 2023, Cavender Auto Family ranks #39 on Automotive News Top 150 Dealership Groups.
Subaru of Midland Odessa will be renamed Cavender Subaru of Midland Odessa and will remain at 3917 West Wall Street in Midland, Texas.
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
Paul Kechnie, Performance Brokerage Services, 512.839.5250, [email protected], https://performancebrokerageservices.com/
SOURCE Performance Brokerage Services
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