Performance Brokerage Services, the leader in dealership
buy-sell activity, announces the sale of Renegade Harley-Davidson
in Springfield, Missouri from
Jeff and Steve Hinchcliff of H+H
Group to Ed Morse Automotive Group
IRVINE,
Calif., Sept. 25, 2024 /PRNewswire-PRWeb/ --
Performance Brokerage Services, North
America's highest volume dealership brokerage firm, is
pleased to announce the sale of Renegade Harley-Davidson in
Springfield, Missouri from
Jeff and Steve Hinchcliff of H+H
Group to Teddy Morse of Ed Morse
Automotive Group.
"Performance Brokerage Services knows what
we are looking for. They bring value and offerings to our existing
portfolio of dealerships that are always worthy of consideration.
Performance Brokerage Services has been a vital part of our
successful growth." - Randy Hoffman,
Ed Morse Automotive Group
H+H Group was founded in 1930 by Augie
Hinchcliff when he partnered to open H+H Chevrolet in
South Omaha, Nebraska. Augie's
grandson, Steve Hinchcliff, joined
the business at age 14, working various positions during high
school. After earning his college degree from the University of Nebraska-Lincoln, Steve Hinchcliff became General Manager in 1988,
and two years later, became Dealer Principal. Today, he oversees
the H+H Group with his son, Jeff
Hinchcliff, which includes four automotive dealerships in
Omaha, Nebraska representing BMW,
Mini, Jaguar, Land Rover, Chevrolet, Kia, Chrysler, Dodge, Jeep,
and RAM.
After the sale of Renegade Harley-Davidson, Jeff Hinchcliff commented, "In our strategic
decision-making process to consider exiting the Harley-Davidson business in Missouri, there was only one broker we would
consider. That was Juan Pardo,
George Chaconas, and the Performance
Brokerage Services team. They brought us a very qualified buyer,
Teddy Morse of the Ed Morse Auto
Group. I would like to thank Juan
Pardo for his professionalism and perseverance in helping us
get the deal to the finish line, and I wish Teddy Morse and his team the best of luck and
continued success as they grow their Harley-Davidson dealership portfolio."
Over the last 5 years, Performance Brokerage Services has
advised on the sale of over 300 dealerships, making it the highest
volume dealership brokerage firm in North
America. George C. Chaconas,
Senior Partner, and Juan Pardo,
Partner of the Harley-Davidson & Powersports Division for
Performance Brokerage Services were the exclusive sell-side
advisors for this transaction.
Ed Morse Automotive Group was founded almost 80 years ago by
Ed Morse and his father. Before
entering the automotive industry, Ed
Morse served in the U.S. Army Air Corps, and after the war,
worked as a doorman, arranging rental cars for guests at the
Coronado Hotel in Miami Beach. In
1946, Ed and his father launched Morse Motors, starting with a
fleet of 20 rental cars. The business grew to 2,000 vehicles,
leading to a merger with National Car Rental, where Ed became
CEO.
In 1961, the Morse family acquired their first dealership,
Cecil Holland Ford in Miami, which soon became Ed Morse Ford. Over the next 50 years, Ed and
his son, Ted, led Ed Morse Automotive Group to become one of the
largest family-owned automotive dealer groups in the country, with
over 50 locations across the United
States.
Ed Morse Automotive Group is ranked #53 on the 2024 Automotive
News Top 150 Dealership Groups based on 2023 new vehicle retail
sales units. Ted's son, Teddy Morse,
serves as Chairman and CEO, continuing the family legacy.
Randy Hoffman serves as the Chief
Operating Officer, managing the day-to-day operations. Together,
Randy Hoffman and Teddy Morse oversee the continued expansion of
their dealership network.
Randy Hoffman shared, "We have
utilized the services of Performance Brokerage Services several
times. When George Chaconas and
Juan Pardo bring us an opportunity,
we listen. Performance Brokerage Services knows what we are looking
for. They bring value and offerings to our existing portfolio of
dealerships that are always worthy of consideration. Performance
Brokerage Services has been a vital part of our successful
growth."
After the sale, Juan Pardo
remarked, "I would like to thank Jeff and
Steve Hinchcliff for the opportunity to represent them in
the sale of Renegade Harley-Davidson. Having recently worked with
them on the sale of Frontier Harley-Davidson, it was important we
not only found a qualified buyer, but also someone who could move
through the buy-sell process in a timely manner. I wish Jeff and
Steve the best of luck in all their future endeavors, and I wish
Teddy Morse and Randy Hoffman continued success at Renegade
Harley-Davidson."
George Chaconas shared, "I have
not only had the pleasure of representing Steve and Jeff Hinchcliff on the acquisition and
sale of their four Harley-Davidson
dealerships, but I have also represented Teddy Morse of Ed Morse Automotive Group on
their acquisitions of three Harley-Davidson and powersports dealerships in
Texas. It has been an honor and a
privilege to work with both parties over the years. I would like to
congratulate Teddy Morse and
Randy Hoffman on acquiring another
Harley-Davidson dealership through
us. I want to personally thank Randy for his professionalism,
experience, and ability to work as a team to make this a smooth
transaction. I wish both parties huge success and appreciate the
opportunity to be of service."
Renegade Harley-Davidson will
be renamed Teddy Morse's Renegade
Harley-Davidson and will remain at its current location at 3980
West Sunshine Street in Springfield,
Missouri.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is North America's highest volume dealership
brokerage firm, specializing in buy-sell activity for automotive,
RV, commercial truck, powersports, and equipment dealerships.
With over 30 years of experience, 900 dealerships sold, and a
90% closing rate, the company's reputation is unmatched and
governed by the utmost ethical conduct and integrity.
The company offers a unique approach by providing complimentary
estimates of value with no upfront fees or retainer, no
reimbursement of costs, and paid a success fee only after the
transaction closes.
Headquartered in Irvine,
California, and supported by 9 regional offices in
Utah, Texas, Illinois, Florida, Virginia, Ohio, New
Jersey, Alberta and
Ontario, clients benefit from
national exposure with local representation.
As trusted and respected experts in the field, the company
utilizes an extensive network of industry related attorneys,
accountants, hundreds of registered buyers, and longstanding
relationships with various vehicle manufacturers.
For more information about the services offered by Performance
Brokerage Services, visit
https://performancebrokerageservices.com.
Media Contact
George C. Chaconas, Performance
Brokerage Services, 813.569.6250,
george@performancebrokerageservices.com, https://performancebrokerageservices.com
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