Performance Brokerage Services, the leader in dealership
buy-sell activity, announces the sale of Searles Motor Products in
Ingersoll, Ontario, Canada from
Don Searles of Searles Motor
Products to Michael Carmichael of
UpAuto
IRVINE,
Calif., July 26, 2024 /PRNewswire-PRWeb/ --
Performance Brokerage Services, North
America's highest volume dealership brokerage firm, is
pleased to announce the sale of Searles Motor Products in
Ingersoll, Ontario, Canada from
Don Searles of Searles Motor
Products to Michael Carmichael of
UpAuto.
"Rob
Armstrong of Performance Brokerage Services was a great
asset to have in my corner during the process of the sale of
Searles Motor Products. I would highly recommend Rob to anyone
considering buying or selling!" - Don
Searles, President of Searles Motor Products
Don Searles, President of Searles
Motor Products shared, "Rob
Armstrong of Performance Brokerage Services was a great
asset to have in my corner during the process of the sale of
Searles Motor Products. Rob thoroughly understood the necessary
discretion and confidentiality of a sale of this nature for a
long-run family business in a small community. He was very
sensitive to the emotional nature of selling a business with a
55-year family legacy. He was always available to offer guidance,
advice, or even be a sounding board. His understanding and
professionalism surrounding the complexity of this transaction was
imperative to the success of this deal. I will always be
appreciative of Rob's assistance in this transaction and value his
friendship. I would highly recommend Rob to anyone considering
buying or selling!"
Michael Carmichael, President
& CEO of UpAuto, began his journey in the automotive industry
at the early age of seven. He would accompany his father to his
dealership, initially drawn to the workings of the parts conveyor
belt. Over the years, Michael's passion for the industry grew. With
a career spanning three decades exclusively within the realm of car
dealerships, Michael has held roles in every department, starting
from entry-level positions.
In 2016, Michael divested his family's business, City Buick
Chevrolet Cadillac, to establish UpAuto. UpAuto now has six
dealership locations in Ontario
including Easthill Volkswagen, Hanover Honda, Stratford Subaru,
Stratford Honda, St. Marys Buick
GMC, and Ingersoll Chevrolet Buick GMC.
Michael Carmichael shared,
"Working with Rob Armstrong from
Performance Brokerage Services was an absolute pleasure. His
patience, professionalism, expertise, and dedication made acquiring
this new dealership a positive experience. Rob's deep understanding
of the industry and commitment to ensuring that both parties
communicated effectively and clearly were evident throughout our
interactions. He was always responsive and proactive and went above
and beyond to address our questions and concerns. I would highly
recommend Rob Armstrong and
Performance Brokerage Services to anyone looking to acquire or sell
a dealership. They truly deliver outstanding service and
results."
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. Rob Armstrong,
Senior Partner of the Canadian Headquarters for Performance
Brokerage Services was the exclusive advisor for this
transaction.
Rob Armstrong commented, "It was
a pleasure facilitating this transaction on behalf of our client,
and my friend Don Searles. Knowing
Don since our time together at the Canadian Automotive Institute
(now Automotive Business School of Canada), it was a great to be able to walk
alongside him and to advise on the transfer of his family legacy.
Having known Michael Carmichael and
the values of his respected family for almost the same amount of
time, it was clear to me that this would be a great fit for these
friends that are also clients. UpAuto proved to be the ideal buyer,
embodying the family-focused, small-community business ethos that
has defined Searles Motor Products for over half a century. I look
forward to watching UpAuto continue the Searles legacy and expand
their footprint within southwestern Ontario."
Searles Motor Products will be renamed Ingersoll Chevrolet Buick
GMC and will remain at its current location at 348 Harris Street in
Ingersoll, Ontario in Canada.
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 Burlington,
Ontario, and supported by 8 regional offices in Utah, Texas,
Illinois, Florida, Virginia, Ohio, New
Jersey, and Alberta,
clients benefit from North American 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
Rob Armstrong, Performance
Brokerage Services, 289.275.7179,
rob@performancebrokerageservices.com,
https://performancebrokerageservices.com
Twitter
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SOURCE Performance Brokerage Services