Several dealership acquisitions were announced in the Midwest in recent weeks by Performance Brokerage Services, which advised in the deals.
Ames, IA
In Ames, IA, Deery of Ames Chrysler Dodge Jeep Ram was purchased by DeYarman Automotive Group from Mark Chasey.
The dealership will be renamed DeYarman Chrysler Dodge Jeep Ram Ames and will remain at 1700 SE 16th St. in Ames.
After working in the automotive industry for more than three decades, Doug DeYarman purchased his first dealership, DeYarman Ford of Indianola, IA. DeYarman Automotive Group has since expanded to include DeYarman Chrysler Dodge Jeep Ram of Knoxville and its newest dealership in Ames.
In 2022, DeYarman was elected to a three-year term as a district director for the Iowa Automobile Dealers Association, advocating for franchised automotive dealers in southeastern Iowa.
Lake City, MN
Tom Heffernan Ford in Lake City, MN, was purchased by Moneer Nyazi of Mosaic Auto Group from Tom and Marie Heffernan.
The dealership will be renamed Mosaic Ford Lake City and will remain at 310 N. Lakeshore Drive in Lake City.
Tom Heffernan s tenure with Ford has spanned 68 years. He joined Ford Motor Company in 1956 and acquired his dealership in 1973. Tom and Marie Heffernan arranged the sale so they can retire.
Mosaic Auto Group now has three dealerships in Minnesota, including Mosaic Chrysler of Zumbrota, and Eide Chrysler Dodge Jeep Ram of Zumbrota.
Rice Lake, WI
South Lake Motors, Inc. in Rice Lake, WI, was bought by Link Auto & RV from Aaron Resnick.
The dealership will be renamed Link Chrysler Dodge Jeep Ram and will remain at 1931 S. Main St. in Rice Lake.
South Lake Motors, Inc. was founded in 1973 by Resnick's grandparents. Resnick owned and operated the dealership for the past three decades.
Link Auto & RV is a family-owned dealership group that has been serving northwestern Wisconsin and Twin Ports since 1946. With the purchase, Link Auto & RV now has four dealership locations, including Link Ford in Rice Lake, and Link Ford and Link RV Direct in Minong, WI.
Hutchinson, MN
Valley Sales of Hutchinson was bought by Aaron Marthaler of M Automotive from Jim Paul of Valley Automotive Group.
The dealership will be renamed Olson Chevrolet of Hutchinson and will remain at 525 Highway 7 in Hutchinson.
Marthaler's ascent in the automotive industry began humbly, starting out as a lube technician in Glenwood, MN. Demonstrating ambition and skill, Marthaler swiftly transitioned to vehicle sales, eventually securing ownership in his first dealership. With the acquisition of Valley Sales of Hutchinson, M Automotive currently owns and operates 10 dealerships in Wisconsin and Minnesota.
After selling the Hutchinson dealership, Valley Automotive Group still has dealerships in Minnesota including Valley Buick GMC of Apple Valley, Valley Buick GMC of Hastings and Valley Chevrolet of Hastings.
