Jason Stopnitzky, co-founder of buy-sell agency Performance Brokerage Services in Irvine, Calif., facilitated each transactions for the rising auto retailer, which began in 2019 in Ottawa, Canada.
Stopnitzky mentioned he thinks Ride Automotive will continue to grow, crediting their customer-centric strategy and trade data. He mentioned the closings he labored with them on went easily.
“In both situations, the sellers walked away saying, ‘The deal went exactly as I predicted and suspected, and these guys did exactly what they said they would do,'” Stopnitzky mentioned.
In Canada, the group owns Orleans Kia and Kia 417 in Gloucester, each in Ontario.
Robert Bayer and Mac McKinley offered the Stellantis dealership in Simi Valley, the one retailer the pair owned collectively, Stopnitzky mentioned.
He mentioned McKinley doesn’t personal some other shops, however Bayer owns Covina Valley Kia in Covina, Calif.
The Simi Valley dealership, which is a part of the better Los Angeles space, will hold its identify, Sehdev mentioned. Marin Mazda is a part of the better San Francisco space. That dealership identify stays, too, Sehdev mentioned.
Michael Glasser offered the Mazda retailer, the one one he owned, and plans to get pleasure from a section of semi-retirement, Stopnitzky mentioned.
As for Ride’s Automotive’s future, Sehdev mentioned they’re concentrating on integrating their newest acquisitions for now however finally will discover extra development alternatives in Canada and the U.S.
“We haven’t proven ourselves here yet,” Sehdev mentioned of the U.S. “For the time being, our complete focus is just to prove ourselves within this market and in the States. We’ll be keeping our Canadian stores and looking to grow, when the time is right, on both sides.”
Source: canada.autonews.com