#United States #Rockville #Performance Brokerage #Fleming's Ultimate Garage #Ultimate Dealer Group

Performance Brokerage Services Facilitates Sale of Fleming's Ultimate Garage

Performance Brokerage Services, recognized as the top dealership brokerage firm in North America, has announced a recent significant transaction involving the sale of Fleming's Ultimate Garage, located in Rockville, Maryland. This transaction marks another successful endeavor by the brokerage, known for its expertise in the buy-sell activities of various dealerships.

Fleming's Ultimate Garage, which opened its doors in 2001, is a family-run establishment that has carved out a niche for itself as one of the premier specialty car dealers in the country. The dealership boasts an impressive inventory, offering classic, muscle, sports, and exotic cars alongside a selection of motorcycles. With an 80-vehicle showroom equipped with state-of-the-art facilities, Fleming's has built a strong reputation over its 24 years of operation, making it a go-to destination for automobile enthusiasts.

The sale involved Tony and Monica Fleming reaching out to George C. Chaconas, a Senior Partner at Performance Brokerage Services, to guide them through the process as they had not established a formal succession plan for their thriving business. Chaconas, who served as the exclusive sell-side advisor for this transaction, expressed his gratitude in being able to assist the Flemings in this pivotal moment, noting that the duo had dedicated more than two decades to nurturing their dealership, which makes the sale a particularly significant achievement.

The buyer, Ultimate Dealer Group, represented by Dan Ribnick, is an established player in the automotive industry, also known for its other brand, Ellingson Motorcars, based in Minnesota. This acquisition allows for not only the expansion of Dan Ribnick's operations but also the beginning of a new partnership aimed at further driving the growth of Fleming's Ultimate Garage.

Chaconas emphasized the significance of this transaction, mentioning that the partnership formed between Ribnick and his son, David, reflects a strong commitment to preserving and expanding the legacy of Fleming's Ultimate Garage. “It’s been a privilege to help the Flemings transition their business while ensuring its future growth through this acquisition,” said Chaconas. “I wish both parties the utmost success in their collaborative endeavors moving forward.”

Despite the ownership change, Fleming's Ultimate Garage is set to continue its operations at the same location, situated at 660 Lofstrand Lane in Rockville, Maryland, ensuring that loyal customers can still receive the same level of service and selection they have come to trust.

About Performance Brokerage Services

Performance Brokerage Services has over 30 years of experience in dealership brokerage, specializing in the buy-sell activity of automobile, RV, commercial truck, and powersports dealerships. With a record of nearly 400 dealership transactions over the past five years, they maintain the highest volume rating in the industry and boast an impressive 90% closing rate, highlighting their effectiveness and reliability. Their ethical practices and integrity have fostered trust among clients, facilitating seamless transitions in ownership.

Their unique value proposition includes offering free estimates for dealership valuations without any upfront fees, billing only upon successful closure of transactions. With a headquarters in Irvine, California, and additional support from 12 regional offices across the U.S. and Canada, Performance Brokerage Services provides clients with the advantages of national exposure paired with personalized local representation. For those interested in learning more about their service offerings, details can be found on their website.