Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Toyota of Bellingham and Mercedes-Benz of Bellingham in Washington from Al Monjazeb to Go Auto.
IRVINE, Calif., March 15, 2023 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of Toyota of Bellingham and Mercedes-Benz of Bellingham in Washington from Al Monjazeb to Go Auto.
Mercedes-Benz of Bellingham and Toyota of Bellingham were purchased by Al Monjazeb in October 2016. Monjazeb has over two decades of experience in the automotive industry operating multiple luxury dealerships in the Pacific Northwest, and currently operates dealerships in Bellevue and Lynnwood. Following the sale, Monjazeb commented, "As dealers, we get rated every day. Here is my rating of Moshe Stopnitzky and Performance Brokerage Services: Over the last 30 years, every transaction they have assisted me with was smooth and headache-free. That is what I call a great level of professionalism, demonstrated by Moshe and his team. I appreciated working with Rob Armstrong, as he has also embraced the Performance culture of honesty and total transparency, and that means a lot to me, as it should to any client. Many thanks to Moshe and his team."
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. This transaction was exclusively facilitated by Moshe Stopnitzky, President, and Rob Armstrong, Senior Partner of the Canadian headquarters for Performance Brokerage Services.
Stopnitzky, "We are very pleased to have been part of this transaction. Mr. Monjazeb has been a client of the firm for over two decades. Coincidentally, in 2016 we facilitated the sale of these dealerships to Mr. Monjazeb. We offer best wishes to Go Auto on their first acquisition in the US and are confident that they will be able to build on Mr. Monjazeb's excellent reputation. I would also like to thank Mr. Mark Gleason for doing excellent legal work through the process."
Rob Armstrong added, "Working with Jared Priestner and the team at Go Auto was a pleasure. It was especially exciting to help them find just the right opportunity to enter the US market. Their determination to get the deal done was clear from the start and I look forward to working closely with them as they continue to expand across the US and Canada. The professionalism and expertise they bring to the market will surely build upon Mr. Monjazeb's legacy. Congratulations to Mr. Monjazeb and his team!"
Go Auto, a Canada-based family business, is currently one of the largest automotive groups in Canada, with close to 60 locations and 3,300 employees. This transaction marks Go Auto's first US acquisition.
Jared Priestner, Principal at Go Auto stated, "I would like to thank Rob Armstrong and the Performance Brokerage Services team for their outstanding work on our entry into the US market. Rob quickly identified the ideal stores for Go Auto to make our first US acquisition and was a superb communicator throughout the deal. I found Rob to be the most honest and capable broker we have ever worked with, hands down! We look forward to doing more business with Performance Brokerage Services."
The Toyota dealership will remain at its current location at 1100 Iowa Street in Bellingham, Washington, and a new Mercedes-Benz facility is being constructed on the adjacent parcel.
Al Monzajeb was represented by Mark J. Gleason of Fennemore Dowling Aaron LLP in Roseville, California.
Go Auto was represented by Danielle Hunt of Miller Nash LLP in Seattle, Washington.
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 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
Moshe Stopnitzky, http://performancebrokerageservices.com/, 949.309.2665, [email protected]
SOURCE Performance Brokerage Services
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