National Business Brokers is pleased to announce the sale of Adamson Motors in Rochester, MN, from Jeff Schaefer and Randy Stevens, Executive Owners of Adamson Motors, Inc., to Jim Spellman and Bret Matthews of the Happy Auto Group in Oak Lawn, Illinois.
The sellers in this transaction have a long family history of selling cars in Rochester. Adamson Motors was founded in 1953 by Joe Adamson, selling DeSotos, Plymouths and Valiants in downtown Rochester. Joe’s son, Bill, became the company’s president in 1966 and moved the stores to their current location on Highway 52 in 1974. Bill is a former Time Dealer of the Year.
Bill’s sons Michael and Patrick, and his son-in-law Jeff Schaefer, all held leadership roles in the stores for decades, along with Randy Stevens, who has been the General Manager since 1974.
The Adamson group hoped to find buyers who would continue the family’s legacy of customer service and community involvement, and who would take care of their employees, whom they view as family. They have found a great fit with the Happy Auto Group. Happy Auto Group owns Hyundai and CDJR stores in Illinois, but this is their first acquisition outside their home state. They have plans for significant facility upgrades, including a new Hyundai facility, and will keep all 100 employees on staff.
Scott Mackie, NBB’s Senior Vice President for the Midwest region, said it was an honor and a privilege to facilitate the sale of such an iconic store. “The Adamson family has been in the Rochester market for 70 years, and executive owners Randy Stevens and Jeff Schaefer were simply the best as partners with me in the selling process. Supporting Jim and Bret as buyers was so much easier due to the tremendous level of energy, urgency and enthusiasm they brought to the transaction. Happy Auto will undoubtedly strive to build upon the legacy and sterling reputation of the Adamson store."
“Scott did a remarkable job guiding my partner and I through the entire selling process, said Jeff Schaefer. “His communication, analysis, and advice were outstanding throughout. I would highly recommend Scott and the NBB team to anyone who is considering selling their dealership. Scott will make sure you have a terrific selling experience.”
Bret Matthews, co-owner of the Happy Auto Group, said, “Scott and NBB did a masterful job communicating with us as the process unfolded. We appreciated the transparency NBB provided. We would work with Scott and NBB on any upcoming opportunities.”
The dealerships will be named Happy Hyundai of Rochester, and Happy Chrysler Dodge Jeep Ram of Rochester, and will remain at the current location, 4800 U.S. Highway 52 North.
David Pederson and Hilary Stonelake-Curtis of Dunlap Seeger provided legal counsel to the Adamson Motors group, and John Eggert of Hardt, Stern & Kayne and James Sticha of Stinson provided legal counsel to the Happy Auto Group. Scott Mackie of National Business Brokers facilitated the transaction on behalf of the buyers and sellers.
About National Business Brokers
National Business Brokers has been helping new car dealers buy and sell their stores for 43 years. With five regional offices across the country, NBB has national coverage and local familiarity. NBB has successfully closed over 850 transactions in the auto industry, more than any other M&A firm in the industry.
With offices in California, Texas, Michigan, New Jersey and Florida, NBB represents sellers throughout the United States, and buyers from around the world. Clients rely on NBB for confidentiality, expert counsel, and a deep network of relationships that enables us to connect the right buyers and sellers for the best opportunities.
NBB is headquartered in Irvine, CA. For more information visit www.nationalbusinessbrokers.com or call 800-576-9875.