George Chaconas of Performance Brokerage Services advises on the sale of Cowboy Harley-Davidson and Cowboy Powersports, 4 locations in Texas, to Ed Morse Automotive Group
Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Cowboy Harley-Davidson and Cowboy Powersports, 4 branches in Texasof Sheila Umphrey and the end Walter Umphrey at the Ed Morse Automotive Group
IRVINE, Calif., September 13, 2022 /PRNewswire-PRWeb/ — Performance brokerage services, North America largest volume dealer brokerage company, is pleased to announce the sale of Cowboy Harley-Davidson, with locations at Austin, San Antonioand Beaumont, TXwith Cowboy Powersports from Beaumont, TX of Sheila Umphrey and the end Walter Umphrey to the Ed Morse Automotive Group.
The Cowboy Harley-Davidson and Cowboy Powersports dealerships were acquired by the late Walter Umphrey in 1999. Walter, well known in the Southeast Texas community for his charitable contributions and reputation as a successful lawyer, as well as his passion for motorcycles, was a natural choice as a dealership owner of the legendary Harley-Davidson brand. Walter recognized that being customer-focused and improving the overall dealership experience would set them apart. The concessionaire organized charity rides and hosted local artists to create an environment that the community wanted to be part of.
Over the years, the dealerships stayed true to the core values they were established on and built a community of riders who knew they would always be treated fairly when visiting Cowboy dealerships. After Walter passed away in 2021, and after 23 years of business growth, Sheila UmphreyWalter’s wife, decided it was a good time to sell the claims.
Following the sale, Sheila commented, “I would like to thank George Chaconas and Courtney Bernhard of Performance Brokerage Services for introducing me Teddy Morse and Randy Hoffman of the Ed Morse group, to buy our 3 Harley-Davidson dealerships and our Powersports dealership. Teddy and Randy were lovely and very professional to work with. We spoke with 6 other potential buyers, but Teddy’s group was the best fit as it is also a family business. The group will work perfectly with our employees and that was our main goal. Thanks again.”
Over the past 5 years, Performance brokerage services has advised on the sale of over 300 dealerships, making it the largest dealer brokerage firm in North America. In 2021, the company completed 72 transactions, marking a record year. George C. Chaconasthe buyer’s exclusive advisor for this transaction and the National Harley-Davidson and Motorsports Division Head for Performance Brokerage Services, said: “I have known the Umphreys for years and contacted Sheila after the death of her husband, Walter, Sheila said she would consider selling the dealerships, so I introduced her to our client, Ed Morse Automotive Group. Teddy Morse, Group Chairman and CEO and Harley enthusiast, jumped at the chance to own a Harley-Davidson dealership. Given the scale and complexity of this transaction, we were able to overcome the many challenges that arose throughout the purchase-sale process. Both parties were a pleasure to work with and ensured a quick closing as the dealerships transitioned from one family business to another. We look forward to the continued success of Ed Morse Automotive Group and the growth of its portfolio. I want to thank Sheila Umphrey, Michael Havardattorney/partner, and Carole De Berry, Chief Financial Officer, for their outstanding support during this transaction and to congratulate them on the sale. We would also like to say thank you to Teddy Morse, Randy Hoffmanand the whole Ed Morse team for the opportunity to help them with their first Harley-Davidson acquisition.”
Ed Morse Automotive Group is headquartered in Delray Beach, Florida, and has been family owned and operated for over 75 years. The company was founded by Ed Morsewhich established Morse Motors in 1946, and is now under Ed’s grandson, President and CEO, Teddy Morse.
The acquisitions of Cowboy Harley-Davidson and Powersports will add the first motorsports franchises to the group’s lineup, while increasing the number of dealerships to more than 30 and adding nearly 140 employees to their workforce of more than 1,800.
Teddy Morse shared, “George, thank you for all your help!” Randy HoffmanCOO of Ed Morse Automotive, shared: “When we were in the market to get into the Harley-Davidson and Powersports business, one name kept coming up as Harley-Davidson Expert, Broker, George Chaconas performance brokerage services. George introduced us to the Cowboy Harley-Davidson & Powersports dealerships, and we are delighted to have acquired them all and to grow our footprint in Texas. Teddy Morse and I want to thank George and his team for helping to facilitate this very important and special acquisition. We thank him for giving us this opportunity and look forward to growing these dealerships while diversifying our automotive holdings and geography. »
Dealerships will remain at their current locations:
Harley Davidson cowboy Austin at 10917 South I-35 Frontage Road at Austin, TX
Harley Davidson cowboy Beaumont at 1150 I-10 South Access Road at Beaumont, TX
Cowboy’s Alamo City Harley-Davidson at 11005 I-35 Frontage Road in San Antonio, TX
Cowboy Powersports Beaumont at 1280 I-10 at Beaumont, TX
Ed Morse Automotive Group was represented by Jeffrey C. Dwyer of Dwyer Law Group in Fort Lauderdale, Floridaand by Gregory DoughertyCPA and partner of Crowe LLP in Tampa, Florida.
Sheila Umphrey was represented by Fox Spear from Creighton, Fox, Johnson & Mills, PLLC to Beaumont, TX.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is North America highest-volume dealer brokerage firm specializing in buy-sell business for automobile, recreational vehicle, commercial truck, powersports and equipment dealers.
With over 25 years of experience, 700 dealerships sold and a 90% closure rate, the company’s reputation is unmatched and governed by the highest ethics and integrity.
The company offers a unique approach by providing free value estimates with no upfront fees or deposits, no fee refunds, and only paying a success fee after the deal is closed.
Based at Irvine, Californiaand supported by 7 regional offices in Utah, Texas, Florida, Virginia, Ohio, New Jerseyand Canadaclients benefit from national visibility with local representation.
As trusted and respected experts in the field, the company utilizes an extensive network of attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various automakers.
For more information on the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Courtney BernhardPerformance Brokerage Services, 813-569-6250, [email protected]
SOURCE Performance Brokerage Services