NBB Insights:

SOLD: Crowe CDJR and Crowe Ford, Illinois

NBB
by
NBB
Crowe Ford dealership in Geneseo, IL

National Business Brokers is pleased to announce the sale of Crowe CDJR in Kewanee, IL, and Crowe Ford, in Geneseo, IL, from George Koustas with Crowe Auto Group to the Ed Morse Automotive Group.

George Koustas, owner of Crowe Auto Group, commented, "Scott Mackie and the team at NBB did an outstanding job of supporting us throughout the entire marketing and sale of our two Crowe dealerships.  We have limited experience in the buy-sell market, and Scott's knowledge, resources and attentiveness were instrumental in allowing us to complete the transaction with the Morse Group quickly and efficiently. I would be delighted to work with Scott again, and would highly recommend him to anyone considering a buy-sell."

With these acquisitions, the Ed Morse Auto Group, headquartered in Delray Beach, FL, owns 40 dealerships, 82 franchises and 25 automotive and motorcycle brands. The group has been family owned for more than 75 years.

"When presented with the opportunity to expand further into Illinois… we jumped at it. These two dealerships fit perfectly into our family-owned model as they have dedicated employees, a loyal customer base, and prepared for growth. We look forward to continuing these dealerships' history of great deals and outstanding customer service, while supporting the local community," said Teddy Morse, Chairman and CEO of Ed Morse Automotive Group, in a press release announcing the acquisition.

The dealerships will be named Ed Morse Chrysler Dodge Jeep RAM, and Ed Morse Ford. The dealerships will remain at their current locations, 303 Tenney Street in Kewanee, IL, and 1041 S. State Street in Geneseo, IL, respectively.

”NBB, and especially Scott Mackie, bring knowledge, professionalism and great deals! We are looking forward to many future transactions!” said Randy Hoffman, COO at Ed Morse Automotive Group.

“I am very pleased to have had the opportunity to work with George Koustas of the Crowe Auto Group, and Teddy Morse and Randy Hoffman of the Ed Morse Auto Group, to facilitate the sale of the Crowe Ford and CDJR stores to the Ed Morse Group,” said Scott Mackie, SVP Southeast Region for National Business Brokers. “The Morse team brings a decidedly-professional approach to acquisitions, and it was amazing to watch their team go to work, starting on the day of close, to adopt George and his Crowe stores into the Morse portfolio.”

About NBB:
NBB has been the automotive sector’s trusted source and valued partner for M&A advisory services for nearly five decades. Founded in 1978, NBB has grown into one of the largest and most experienced automotive M&A advisory firms in the U.S., having facilitated more than 950 new car dealership and 4,500 total M&A transactions. With offices in California, Arizona, Florida, Michigan, New York and Texas, NBB provides a full range of services to clients for M&A transactions nationwide. The firm leverages its deep industry knowledge, proprietary market insights, and decades of transaction expertise to help clients successfully achieve their goals. NBB is one of the flagship portfolio companies of Accrual Equity Partners (AEP), a uniquely positioned private equity firm that identifies, invests in, and partners with scalable companies in highly fragmented industries that are poised to reach the next level.
Media Contacts:
Andrew Backover: andy@leveecommunications.com; (214) 502-2168
Charles Nicolas: charles@leveecommunications.com; (214) 557-5454