#USA #Performance Brokerage #ALiCE #Mike Terry Auto #Payne Auto Group

Major Dealership Change in Alice, Texas

Performance Brokerage Services, known as North America’s leading dealership brokerage, has recently finalized the sale of Team Chevrolet GMC located in Alice, Texas. This significant transaction saw the dealership transition from the Mike Terry Auto Group to the Payne Auto Group, further solidifying the latter’s presence in the automotive market.

A Legacy of Growth

Mike Terry, the President of the Mike Terry Auto Group, started his journey in the automotive industry back in 2010. His dedication and expertise in management roles spanning sales, finance, service, and operations culminated in the purchase of his first dealership in 2019, all facilitated through the trusted guidance of Performance Brokerage Services.

Under the adept leadership of Mike Terry, the organization expanded into a multi-dealership group, catering not just to Alice but also serving the surrounding communities in Mexia, Refugio, and Silsbee, Texas. Their portfolio boasts an impressive lineup representing notable brands such as Chevrolet, GMC, Ford, and Hyundai. The group has seen several strategic acquisitions, all supported by Performance Brokerage Services, contributing to robust growth throughout Texas.

The Mike Terry Auto Group has earned numerous accolades over the years, including prestigious Elite Dealer awards and regional sales championships. Family involvement remains a cornerstone of the organization, with active participation in various local initiatives, charity events, and educational programs aimed at uplifting the community.

The Sale Process

Following the completion of the sale, Mike Terry expressed his appreciation for the role that Paul Kechnie of Performance Brokerage Services played during this pivotal transition. Terry stated, “I’ve known Paul for many years, and there was no doubt in my mind that I wanted him to handle the transaction. His professionalism and transparency kept everything organized and seamless throughout the process.”

Performance Brokerage Services has a distinguished track record, having facilitated the sale of nearly 400 dealerships over the past five years, which grants it the reputation of being the highest volume dealership brokerage firm in North America.

In this transaction, Paul Kechnie, alongside his partners Matt Willis and Jamie Farley, provided exclusive advisory services. Kechnie remarked, “It was an honor to represent my long-time friend Mike Terry in selling Team Chevrolet GMC. Mike has built a strong dealership, and I am thankful for the confidence he showed in me during this transition.” He also highlighted the collaborative spirit behind the deal, noting the professionalism of Austin and Mark Payne from the Payne Auto Group.

Payne Auto Group's Commitment to Community

Payne Auto Group, a well-established entity since 1949, currently operates over ten dealerships throughout South Texas. Their commitment to the community is reflected not only in their business operations but also in philanthropic endeavors, including offering scholarships to deserving high school seniors and recently donating $1 million to Driscoll Children's Hospital Rio Grande Valley to support its Pediatric Residency Program.

The Team Chevrolet GMC dealership will undergo a rebranding to Payne Alice Chevrolet GMC, with operations continuing at its established location in Alice, Texas.

About Performance Brokerage Services

As a leader in dealership brokerage, Performance Brokerage Services specializes in the buy-sell activity for a variety of dealerships, including automotive and RV dealerships, as well as commercial trucks and equipment. With over 30 years of industry experience and a remarkably high closing rate, the firm prides itself on ethical governance and integrity in all transactions. Their unique approach includes complimentary value estimates with no up-front fees, ensuring clients enjoy significant peace of mind when navigating dealership sales.

For further information on their services, please visit Performance Brokerage Services.