#United States #Melbourne #Performance Brokerage Services #Infiniti of Melbourne #Kelly Auto Group

Performance Brokerage Services Secures Deal for Infiniti of Melbourne

In the fast-paced world of automotive dealership transactions, Performance Brokerage Services has once again made headlines. Recently, the firm, renowned for its leadership in dealership buy-sell activities, announced the sale of Infiniti of Melbourne, Florida, from Kelly Auto Group to Jaime Vergara. This transaction showcases not just the firm’s prowess in the industry but also marks a new chapter for both the seller and the buyer.

Kelly Auto Group, which initially acquired the Infiniti dealership in January 2019, made significant strides to enhance its visibility by relocating the dealership to a bustling area in September 2020. Strategically positioned next to a high-traffic Toyota dealership, the new location boosted Infiniti of Melbourne’s accessibility. Extensive upgrades, costing several million dollars, were completed, including paving and the installation of underground water retention systems to improve the dealership’s infrastructure.

The President of Kelly Auto Group, Greg Kelly, noted that between 2021 and 2024, the company expanded its portfolio significantly. This included acquiring a Toyota store and two Hyundai stores in Pennsylvania, which required substantial building projects to modernize those sites.

In early 2024, George C. Chaconas from Performance Brokerage Services approached the Kelly Auto Group with proposals from various parties interested in acquiring their Infiniti store in Melbourne. After detailed negotiations, a mutually beneficial agreement was reached. Chaconas, serving as the exclusive sell-side advisor, expressed his satisfaction in connecting the Kelly Auto Group with Jaime Vergara, who was eager to invest in a dealership in Florida.

Jaime Vergara, the new owner, highlighted his long-standing relationship with Chaconas, acknowledging that their initial meeting took place at a National Association of Minority Automobile Dealers (NAMAD) conference years ago. Vergara’s journey involved selling his previous dealership and looking for opportunities in Florida, leading him to this significant purchase. He praised Chaconas for his professionalism and support throughout the buying process.

Kelly Auto Group’s representation was handled by Thomas Reilly, Jr. at Gross McGinley LLP, whereas Vergara engaged the legal services of J. Gregory Humphries and J. Cameron Katz at Shutts Bowen LLP.

The Infiniti of Melbourne dealership will continue to operate from its prime location at 100 North Harbor City Boulevard in Melbourne, ensuring that it remains accessible to customers in the area. With over 30 years in the business and more than 900 dealerships sold, Performance Brokerage Services emphasizes a reputation built on integrity and exceptional results within the automotive market. Their unique approach includes offering complimentary evaluations without upfront costs, which is an attractive feature for potential buyers and sellers alike.

As the automotive landscape continues to evolve, deals like the one between Kelly Auto Group and Jaime Vergara signify a vibrant marketplace. Performance Brokerage Services stands out as a leader, demonstrating its commitment to connecting dealers and facilitating successful transactions that not only benefit the parties involved but also reinforce the health of the automotive industry. The future looks promising for both the new owner and the sellers as they navigate their new paths in the automotive sector.