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ROBERT KAY ON TO NEXT ADVENTURE

  • Dealernews
  • Sep 21, 2022

 

 

 

NPDA Founding Board Member and recent Dealernews cover dealer Robert Kay huddled with Performance Brokerage Services to pass Star City Motorsports in Lincoln, Nebraska, to John Elway Powersports. Kay has also handed off Platte River Harley-Davidson in Grand Island, Nebraska, to Steve and Jeff Hinchcliff. After 40+ years in the game, Kay decided it was time to ride more and continue his adventure trekking — he has ridden around the world and summited the highest mountain, including Mount Everest. In 1997, he relocated his family from Colorado to Nebraska and acquired his first dealership, Star City Motorsports of Lincoln. After many years of continued growth and success at his first dealership, Kay acquired Platte River Harley- Davidson of Grand Island in 2016.

“I was looking to smell the roses, spend more time with my family and friends, and take more adventure trips,'' says Kay from Australia where he is on an extended ride through the outback. “As I did not have a succession plan, I decided to hire the professional industry experts, George Chaconas and Juan Pardo of Performance Brokerage Services, to help me navigate this life changing decision. Although I wanted to sell my business, I also care deeply for my staff, and wanted them in the right hands after my exit. The Performance Brokerage team was sensitive to that and brought the right buyers to the table."

The right buyers for Platte River Harley were Steve and Jeff Hinchcliff who own multiple automotive dealerships in Omaha, Nebraska. They acquired Frontier Harley-Davidson in Lincoln, Nebraska in 2018, and Renegade Harley-Davidson in Springfield, Missouri in 2021. The Hinchcliffs pride themselves on their customer-centric philosophies, which aligned perfectly with Platte River Harley- Davidson’s culture, making this acquisition a natural fit.

“This is our third Harley-Davidson acquisition with the help of George Chaconas and Juan Pardo of Performance Brokerage Services," notes Jeff Hincliff. "We previously acquired Frontier Harley-Davidson in Lincoln, Nebraska, and Renegade Harley-Davidson in Springfield, Missouri, and they were instrumental in getting both of those deals done. As we looked at new strategic opportunities for growth, George and Juan introduced us to Platte River Harley-Davidson in Grand Island, Nebraska. They were very involved in every aspect of the buy/sell process and integral in getting it to the finish line. If you are in the market to acquire a Harley-Davidson dealership or are considering selling your dealership, I strongly recommend George and Juan at Performance Brokerage Services.”

George C. Chaconas, the exclusive agent for this transaction and the head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services commented, “I met Robert Kay over 5 years ago at his dealership in Lincoln. I grew to admire not only his success as a powersports and Harley-Davidson dealer, but also his passion for life and his adventure seeking lifestyle. When the time came to sell his dealerships, I understood that it was not an easy decision, and that we would need to find a unique buyer for each dealership. I am honored that we were able to identify the right buyers that will remain committed to his vision and taking care of his staff. We were also able to maximize the value of the dealerships and capitalize on his many years of building goodwill in the community. We wish Robert all the best on his next adventure!”

Chaconas also came into play when John Elway decided to get into the game. “George Chaconas and Juan Pardo of Performance Brokerage Services were great to work with," says Michael Maledon, Partner at Elway Dealership Group. "They understand our growth strategy and always provide valuable market insights.”

Headquartered in Englewood, Colorado, the John Elway Dealership Group was established in 2004. In 2021, the company added a Powersports Division and has since expanded to include 4 powersports dealerships in Colorado. The acquisition of Star City marks their first dealership in Nebraska. Michael Maledon, Partner at Elway Dealership Group, adds: “George Chaconas and Juan Pardo of Performance Brokerage Services were great to work with. They understand our growth strategy and always provide valuable market insights.”

Star City Motorsports will remain at its current location at 6600 North 27th Street in Lincoln, Nebraska. Platte River Harley-Davidson will remain at its current location at 2719 South Locust Street in Grand Island, Nebraska, but has been renamed Frontier Outpost Harley-Davidson.

Over the past 5 years, Performance Brokerage Services has advised on the sale of more than 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company consummated 72 transactions, marking a record-breaking year.  Looking to buy or sell a dealership? Look no further than Performance Brokerage Services:

https://performancebrokerageservices.com/

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