Dealer group M&A: Succession plan sales in New York, Kansas

Succession and post-retirement plans are a big part of the dealership buy-sell landscape. That played in two sales announced recently.

Starting in New York, the Mangino family has sold its Chevrolet and Buick GMC stores to Georgica Auto Holdings, LLC, according to Dave Cantin Group, which advised the sellers on this transaction.

Mangino Chevrolet in Amsterdam, N.Y., and Mangino Buick GMC in Ballston Spa, N.Y., will retain their current names under the new ownership.

The sale concludes a succession-planning process that DCG conducted with the Mangino family before they decided whether to sell. DCG worked with the family on evaluating its options, including continued family ownership, before the family decided selling was the correct path.

In addition to retaining the dealerships’ names, a longtime operator of the stores, Mike Coffey, will oversee the dealerships. Coffey is married to second-generation owner Tina Mangino-Coffey.

Ralph Mangino Sr. purchased Ballston Motors in 1978, renaming it Mangino Pontiac. The dealership would later add the Buick franchise and when Pontiac was discontinued, it added the GMC franchise.

The Family purchased Longwell Chevrolet in 2004 and that became Mangino Chevrolet.

The transaction closed Wednesday.

“Our work with the Mangino family didn’t begin with a decision to sell,” DCG managing director Talon Fee, who advised the family, said in a news release. “It began with a conversation about what they wanted for their family and for a business they had spent nearly 50 years building.

“We helped them consider the options, determine the right path and then find a buyer who recognized the value of the business, its people and the Mangino name.”

Cable Dahmer group acquires third store in Kansas, 1oth overall

Moving to the Heartland, Cable Dahmer Automotive Group has acquired Dale Willey Chevrolet GMC in Lawrence, Kan., from Greg Mauerer, according to a news release from Performance Brokerage Services.

“I’ve known Paul Kechnie for many years,” said Maurer, the owner of Dale Willey Automotive Group, on his experience with Performance Brokerage Services. “He facilitated a sale for me a few years ago with two other dealerships. When the time came to retire, I knew he would be a good fit for the project. Paul and his team found the perfect buyer at terms that worked for me, and I’m very happy with the results!”

Cable Dahmer Automotive Group launched in 1957 and currently includes 10 stores across Missouri and Kansas, including Chevrolet, Buick, GMC, Cadillac, Kia, Chrysler, Dodge, Jeep and Ram franchises.

Dale Wiley Chevrolet GMC will be the group’s third store in Kansas. It will remain at its current location and be renamed Cable Dahmer Chevrolet GMC.

Carlos Ledezma, president of Cable Dahmer Automotive Group, said in the release: “Every dealer who has built something for 50 years asks the same question when it’s time to step away: Who will take care of my people and my name? Greg Maurer trusted Cable Dahmer with that answer. Dale Willey becomes our tenth store, and we’ll run it the way we’ve built our group since 2002, by keeping the team, investing in their growth, and honoring the standard that Greg set. Thank you, Greg, and our thanks to Jamie, Paul, and Performance Brokerage for a transaction handled with real professionalism.”