Performance Brokerage Services Sells Van Horn Automotive Group's Newhall Branch to Sky Auto Mall
Performance Brokerage Services, renowned as North America's largest dealership brokerage firm, recently announced a significant transaction involving the sale of Van Horn Ford and Van Horn Chevrolet located in Newhall, Iowa. This sale was made between Van Horn Automotive Group and family-run Sky Auto Mall, led by Yelena and Alex Tovstanovsky.
Founded in 1966 by Joe Van Horn, who, along with his family, relocated from Chicago to Plymouth, Wisconsin, the Van Horn Automotive Group originally acquired Wagner Chevrolet. The organization steadily grew its presence across Wisconsin, branching out beyond its state for the first time in 2017 through the acquisition of the Newhall dealerships. The company's notable pivot occurred in 2016 when it embraced an Employee Stock Ownership Plan (ESOP), transforming into an employee-owned entity, which significantly cultivated a culture of ownership among its staff.
Under the leadership of Joe Van Horn's grandson, Jeff Niesen, appointed President in 2020, the company has expanded to encompass 17 dealerships, employing over 750 individuals. Upon the announcement of this sale, Niesen shared insights on the negotiation process, highlighting how Mark Shackelford, Sr. and Mark Shackelford, Jr. of Performance Brokerage Services stayed actively involved throughout multiple communications, ensuring a smooth transaction process despite certain challenges.
The decision to sell stemmed from the desire to reinvest in their core operations in Wisconsin. The Shackelford team played a crucial role in facilitating the sale, providing expert advice and maintaining open lines of communication with all parties involved.
Alex Tovstanovsky, speaking on behalf of Sky Auto Mall, praised the Shackelford team's dedication, noting their availability outside typical business hours, which distinguished them from other brokerages. The mutual respect developed during negotiations laid a solid foundation for future dealings. This family-run business, which began its journey as immigrants seeking a new beginning in the U.S., has successfully demonstrated a commitment to hard work and growth. After establishing Sky Auto Mall in Center Point, Iowa, the Tovstanovsky family continues to enhance their business profile with this latest acquisition.
Post-sale, the Van Horn Ford and Van Horn Chevrolet dealerships will undergo a rebranding to Sky Ford and Sky Chevrolet and will continue to operate from their established location at 7300 28th Avenue in Newhall.
Performance Brokerage Services has a strong track record with over 300 dealership sales in the last five years, maintaining an unparalleled closing rate coupled with an ethical business approach. With more than three decades of experience, the company is recognized for its effective method of providing complimentary dealership valuations, charging fees only upon successful transaction completions.
To learn more about Performance Brokerage Services and their offerings, please visit their official website at Performance Brokerage Services.
Founded in 1966 by Joe Van Horn, who, along with his family, relocated from Chicago to Plymouth, Wisconsin, the Van Horn Automotive Group originally acquired Wagner Chevrolet. The organization steadily grew its presence across Wisconsin, branching out beyond its state for the first time in 2017 through the acquisition of the Newhall dealerships. The company's notable pivot occurred in 2016 when it embraced an Employee Stock Ownership Plan (ESOP), transforming into an employee-owned entity, which significantly cultivated a culture of ownership among its staff.
Under the leadership of Joe Van Horn's grandson, Jeff Niesen, appointed President in 2020, the company has expanded to encompass 17 dealerships, employing over 750 individuals. Upon the announcement of this sale, Niesen shared insights on the negotiation process, highlighting how Mark Shackelford, Sr. and Mark Shackelford, Jr. of Performance Brokerage Services stayed actively involved throughout multiple communications, ensuring a smooth transaction process despite certain challenges.
The decision to sell stemmed from the desire to reinvest in their core operations in Wisconsin. The Shackelford team played a crucial role in facilitating the sale, providing expert advice and maintaining open lines of communication with all parties involved.
Alex Tovstanovsky, speaking on behalf of Sky Auto Mall, praised the Shackelford team's dedication, noting their availability outside typical business hours, which distinguished them from other brokerages. The mutual respect developed during negotiations laid a solid foundation for future dealings. This family-run business, which began its journey as immigrants seeking a new beginning in the U.S., has successfully demonstrated a commitment to hard work and growth. After establishing Sky Auto Mall in Center Point, Iowa, the Tovstanovsky family continues to enhance their business profile with this latest acquisition.
Post-sale, the Van Horn Ford and Van Horn Chevrolet dealerships will undergo a rebranding to Sky Ford and Sky Chevrolet and will continue to operate from their established location at 7300 28th Avenue in Newhall.
Performance Brokerage Services has a strong track record with over 300 dealership sales in the last five years, maintaining an unparalleled closing rate coupled with an ethical business approach. With more than three decades of experience, the company is recognized for its effective method of providing complimentary dealership valuations, charging fees only upon successful transaction completions.
To learn more about Performance Brokerage Services and their offerings, please visit their official website at Performance Brokerage Services.
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