Performance Brokerage Services Announces the Sale of Lindsay Auto Group to Ed Morse Automotive Group
Performance Brokerage Services, a new car dealership broker, is pleased to announce the sale of Lindsay Auto Group, three dealerships in Missouri, to Ed Morse Automotive Group.
IRVINE, Calif., May 7, 2021 /PRNewswire-PRWeb/ -- Performance Brokerage Services, the leading automotive dealership brokerage firm, advises in the sale of Lindsay Auto Group in Missouri to Ed Morse Automotive Group.
The sale included Lindsay Ford and Lindsay Chevrolet in Lebanon, and Lindsay Chrysler Dodge Jeep Ram in Saint Robert. The stores will remain at their current locations and be renamed Ed Morse Ford, Ed Morse Chevrolet, and Ed Morse Chrysler Dodge Jeep Ram.
Lindsay Auto Group was established in 1970 by the Lindsay family with the opening of Lindsay Chevrolet in Lebanon. In 1993, they opened Lindsay Ford of Lebanon, followed by Lindsay Chrysler Dodge Jeep Ram of Saint Robert in 2004. Following the sale, Larry Lindsay of Lindsay Auto Group commented, "It was a pleasure doing business with Paul Kechnie of Performance Brokerage Services, and Ed Morse Group. Everything went smoothly."
Over the past 5 years, Performance Brokerage Services has represented for sale over 200 automotive dealerships, making it the highest volume automotive dealership brokerage firm in North America. Paul Kechnie, the exclusive agent for this transaction and the Midwest Partner for Performance Brokerage Services commented, "Working with Ed Morse Automotive Group was an absolute pleasure. They did everything they said they would do and were extremely efficient. For over 50 years, the Lindsay family has maintained an incredible reputation. We were fortunate to have found a buyer that equally believes in servicing their communities. It was an honor represent the Lindsay family and assist with this life changing event."
Founded in 1946 by Ed Morse and his father, Morse Motors grew to become an automotive retail giant, Ed Morse Automotive Group, with 24 dealership locations, 14 different domestic and import brands, and employing over 1,250 people. Ranking 60th on Automotive News' list of top-150 US dealerships, the group retailed over 14,000 new vehicles and generated over $1.3B in revenue in 2020.
75 years later, Ed's Grandson, Teddy Morse, serves as the company's Chairman and CEO. Morse continues his family's legacy of charitable work in their local community, and as an award-winning business in the automotive industry.
"We view this as an opportunity to enter the great communities of Lebanon and Saint Robert, all vibrant car-buying markets. We are looking not only to continue these dealerships' history of great deals and outstanding customer service, but to make significant capital improvements. We also look forward to supporting the local community with job growth and giving back to local non-profits. We are very excited to add these Missouri dealerships to our family and look forward to establishing our trusted family name in such an important region," commented Morse.
Randy Hoffman, Executive Vice President for Ed Morse Automotive, commented, "Paul Kechnie from Performance Brokerage Services was fantastic to work with. From a communication perspective, it felt as if he was working for both parties, even though he made it clear he was representing the seller. I look forward to working with Paul in the future. He was just phenomenal."
About Performance Brokerage Services
Performance Brokerage Services, Inc. is the nation's highest volume dealership brokerage firm, specializing in intermediary services to buyers and sellers of automotive, commercial truck, motorcycle, RV and equipment dealerships.
Performance Brokerage Services offers a unique approach by providing complimentary dealership assessments, no upfront fees, no reimbursement of costs and is paid a success fee only after the transaction closes.
Clients benefit from utilizing an extensive network of industry related accountants, attorneys, hundreds of registered buyers and longstanding relationships with most of the auto manufacturers.
With corporate offices in Irvine, California, and 5 regional offices in Utah, Florida, Texas, Virginia and New Jersey, Performance Brokerage Services provides its clients national exposure with local representation.
After 25 years, 700 transactions, and with a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct, integrity and transparency.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Media Contact
Paul Kechnie, Performance Brokerage Services, Inc., (949) 461-1372, [email protected]
SOURCE Performance Brokerage Services, Inc.
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