Performance Brokerage Services Acts as Exclusive Sell-Side Advisor Brenengen Auto, 6 Dealerships in Wisconsin, to Morrie's Automotive Group
Performance Brokerage Services announces the sale of Brenengen Auto, 6 dealerships in Wisconsin, to Morrie's Automotive Group.
IRVINE, Calif., Mar. 8, 2021 /PRNewswire-PRWeb/ -- Performance Brokerage Services, the leading buy-sell firm in the automotive industry, is pleased to announce the sale of the majority interest in Brenengen Auto to Morrie's Automotive Group. The transaction consisted of 6 dealerships in Wisconsin, including Kia of West Salem, Chevrolet of West Salem, Chevrolet Cadillac of Onalaska, Chevrolet Buick of Sparta, Ford of Sparta and Ford Chrysler Dodge Jeep Ram of Tomah.
In 1991, Don Brenengen founded Brenengen Auto, a leading and well-respected automotive retail group with 6 locations in western Wisconsin. Don Brenengen commented that the sale "will create significant growth opportunities for our employees and a superior experience for our customers." Both groups share the values of serving their communities with honesty and integrity.
Founded in Minneapolis in 1960, Morrie's Auto Group has become one of the leading dealership groups in the upper Midwest, adding 10 additional locations since 2016. What started out as a family business, grew to a partnership structure that includes management and Fremont Private Holdings, the investment side of Fremont Group. Adding Brenengen Auto to their dealership portfolio will offer Morrie's 23 brands with locations in Wisconsin and Minnesota. Lance Iserman, CEO of Morries, commented, "Brenengen is a natural complement to our existing business and has similar values rooted in a no-haggle, best-price approach and a focus on customer experience, community partnership, and overall culture."
Performance Brokerage Services represented Don and Cheryl Brenengen in the sale of their 6 dealerships to Morrie's Automotive Group. Over the last 5 years, Performance Brokerage Services has represented for sale over 200 automotive dealerships making it the highest volume automotive dealership brokerage firm in North America.
About Performance Brokerage Services
Performance Brokerage Services, Inc. specializes in intermediary services to buyers and sellers of automotive, commercial truck, motorcycle, RV and equipment dealerships.
Performance Brokerage Services offers a unique approach by providing complimentary dealership assessments, no upfront fees, no reimbursement of costs and is paid a success fee only after the transaction closes.
Clients benefit from utilizing an extensive network of industry related accountants, attorneys, hundreds of registered buyers and longstanding relationships with most of the auto manufacturers.
With corporate offices in Irvine, California, and 5 regional offices in Utah, Florida, Texas, Virginia and New Jersey, Performance Brokerage Services provides its clients national exposure with local representation.
After 25 years, 700 transactions and with a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct, integrity and transparency.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Media Contact
Jesse Stopnitzky, Performance Brokerage Services, Inc., 949.461.1372, [email protected]
SOURCE Performance Brokerage Services, Inc.
Share this article