#United States #Orlando #Performance Brokerage #Sport Mitsubishi #Marine Automotive

Performance Brokerage Services Facilitates Sale of Sport Mitsubishi

In a significant development within the automotive industry, Performance Brokerage Services has successfully announced the sale of Sport Mitsubishi, located in Orlando, Florida. This transaction involved the transfer of ownership from the Don Mealey Sport Auto Group to U.S. Marine of Marine Automotive Group, marking a notable chapter in the dealership's long history.

Performance Brokerage Services, which is recognized as North America's leading dealership brokerage firm, has played an essential role in numerous buy-sell transactions over its decades of operation. With expertise that comes from advising on nearly 400 dealerships over the last five years, the firm has established itself as a trusted entity in facilitating dealership sales across the continent.

History of Don Mealey Sport Auto Group

Founded in 1974, the Don Mealey Sport Auto Group embodies a tradition of family-owned business in the automotive sector. The company launched its operations when Don Mealey purchased his first Chevrolet dealership in Orlando. Over the decades, this enterprise blossomed into a conglomerate of six diverse automotive dealerships, including brands like Sport Mazda North, Sport Mazda South, Sport Subaru, and Sport Mitsubishi. Each dealership location continues to uphold the family legacy, managed with devotion and care by members of the Mealey family.

Bevin Wesley, the Chief Financial Officer of the Don Mealey Sport Auto Group, spoke positively about the relationship established with Performance Brokerage Services, praising the firm's leaders, Geno Walsh and George Chaconas. Wesley noted that their commitment to thoroughness was evident throughout the transaction process. “Geno was even present on the day of closing,” Wesley reported, “assisting with inventory counts and ensuring a smooth transition.” He emphasized the trust they have in Performance Brokerage Services as being indispensable advisors in dealership buy-sell activities.

The Transition to U.S. Marine

U.S. Marine, an experienced automotive entrepreneur and owner of Marine Automotive Group, carries a notable reputation having swiftly ascended through various dealership leadership roles. His deep understanding of the automotive retail environment and nearly ten years of previous collaborations served as a solid foundation for this transaction. He previously acquired a Nissan dealership in Orlando, now known as Sutherlin Nissan, further enhancing his portfolio.

Reflecting on his experience with Performance Brokerage, U.S. Marine remarked, “Geno Walsh and George Chaconas were amazing to work with. They maintained communication throughout the entire process, ensuring everything proceeded as expected.” He expressed his intention to leverage their services for any future dealership transactions, highlighting the trustworthy nature of their approach.

George C. Chaconas, a Senior Partner at Performance Brokerage Services who has known Don Mealey for over 20 years, along with his partner Geno Walsh, felt honored to represent the Mealey family in this transaction. He stated, “This sale exemplifies the continuous evolution of the automotive market in Central Florida, giving Don Mealey ample space to redirect focus on their core franchises.”

Future Plans for Sport Mitsubishi

As the transition is finalized, Sport Mitsubishi will be renamed North Orlando Mitsubishi but will remain at its current location, ensuring continuity for both the employees and customers of the dealership. This strategy allows the new family to leverage the established market presence and reputation that Sport Mitsubishi has built over the years.

The legal sides of the transaction were handled proficiently, with Don Mealey Sport Auto Group represented by J. Gregory Humphries at Shutts & Bowen LLP, while U.S. Marine received counsel from Frank H. Killgore, Jr. at Killgore Pearlman.

About Performance Brokerage Services

For more than 30 years, Performance Brokerage Services, headquartered in Irvine, California, has provided unrivaled brokerage services for automotive, RV, commercial truck, powersports, and equipment dealerships. Their extensive network of professionals and a stellar closing rate of 90% speak volumes about their commitment to the industry. Their windfall of expertise suggests that they are well-equipped to handle dealership transactions with the utmost integrity and professionalism.

In conclusion, this acquisition not only marks the start of a new era for Sport Mitsubishi under its new ownership but also reinforces the ongoing evolution in the automotive marketplace, paving the way for fresh opportunities and growth in the Orlando region. As both parties commit to their respective paths, this transaction stands as a reflection of strategic business decisions shaped by decades of experience.