Performance Brokerage Services Facilitates the Acquisition of Campus Ford in Virginia
Major Deal in the Automotive World
Sale of Campus Ford in Waynesboro, Virginia
In a significant development for Virginia's automotive sector, Performance Brokerage Services has successfully facilitated the sale of Campus Ford from Matt McMurray to Eric Obaugh of Charlie Obaugh Auto Group. Performance Brokerage Services is renowned as North America's leading dealership brokerage firm, known for its focus on buy-sell activities within the automotive industry.
About Charlie Obaugh Auto Group
Charlie's Obaugh Auto Group has been a staple in Virginia's automotive market since its inception in 1976 by Charles R. Obaugh Jr. The family-owned business has successfully operated for over 50 years, with Eric Obaugh stepping into leadership alongside his father in 1985, contributing significantly to its growth. The group now comprises brands like Chevrolet, GMC, Kia, and Mitsubishi, alongside an RV and Outdoor Center. The acquisition of Campus Ford represents a pivotal moment for the group as they expand their portfolio to six franchised dealerships, introducing their first Ford franchise into the mix.
The Importance of the Sale
Eric Obaugh expressed the pivotal role that Performance Brokerage Services played in the acquisition, stating, “When the opportunity to acquire Campus Ford came up, having Weldon Mann and Jimmy Robinson from Performance Brokerage Services behind us made a significant difference. Their market knowledge and guidance were invaluable throughout the process.” With Waynesboro being close to their principal operations in Staunton, integrating the Ford brand into their existing offerings aligns smoothly with their operational strategy.
Performance Brokerage Services at Work
Over the past five years, Performance Brokerage Services has handled nearly 450 dealership transactions, cementing their status as the highest volume dealership brokerage in North America. The Southeast Partners of the firm, George C. Chaconas, Weldon Mann, and Jimmy Robinson, served as the exclusive buy-side advisors in this deal. Mann noted that Campus Ford is a strategic fit, enhancing the operational capacity and creating long-term value for the Obaugh family.
Matt McMurray's Transition
Prior to the sale, Matt McMurray had envisioned a fruitful career in the automotive industry, having grown up in that environment. He began as a manager at Campus Exxon in Blacksburg, Virginia, before moving up to Vice President and eventually starting his own business, Campus Automotive, in 2011. McMurray transformed the business into a robust operation, complete with a service department and body shop. Following his acquisition of Campus Ford in 2022, he was honored as the Virginia Independent Auto Dealers Association Dealer of the Year, indicating his successful establishment in the franchised automotive retail space.
Upon selling, McMurray highlighted the significance of transitioning Campus Ford to a reputable owner: “Finding the right next owner was essential to me. With Performance Brokerage Services, I felt secure knowing I was in capable hands. I trust that Eric and his team will take exceptional care of our customers and employees. I’m thankful for the expertise and professionalism they brought to this transaction.”
Campus Ford's Future
As the transaction concludes, Campus Ford will rebrand as Charlie Obaugh Ford, remaining at its original physical location. This rebranding marks the beginning of a new chapter not only for the dealership but also for the community in Waynesboro. The Obaugh family aims to build on the strong foundation laid by the previous ownership, continuing to provide outstanding service to local customers for many years to come.
About Performance Brokerage Services
Founded to meet the needs of a changing automotive market, Performance Brokerage Services brings over 30 years of experience to the table, having successfully sold more than 900 dealerships. Their approach involves providing complimentary estimates of value and only charging commission after a transaction reaches closure. With a reputation for ethical conduct and integrity in the industry, they are well-positioned to facilitate future deals in the automotive landscape.
For further details about their services, interested parties can visit their website at Performance Brokerage Services.
Topics Consumer Products & Retail）
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