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 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.