Harley-Davidson and New Car Dealership Broker, George C. Chaconas of Performance Brokerage Services, Announces the Closing of Hot Metal Harley-Davidson Retirement and Sale in Pittsburgh, Pennsylvania of Toby O’Brien to Surrounding Dealerships , George Gatto of Three Rivers Harley-Davidson, Pokey Weiss of Steel City Harley-Davidson and Jim McMahan of Z&M Harley-Davidson.
IRVINE, Calif., January 28, 2022 /PRNewswire-PRWeb/ — Performance Brokerage Services, North America largest volume dealer brokerage firm, is pleased to announce the closure and sale of Hot Metal Harley-Davidson to Pittsburgh, Pennsylvania from Toby O’Brien at george gatto of Three Rivers Harley-Davidson, Pokey Weiss of Steel City Harley-Davidson, and Jim McMahan from Z&M Harley Davidson.
The dealership was established in 1964 in McKeesport, Pennsylvania as Harley-Davidson Motors. After moving several times, with many name changes, Hot Metal Harley-Davidson finally made their home at the Frito-Lay Distribution Center on Route 885 in West Mifflin where it has operated since 2004.
When Toby O’Brien acquired the dealership, he and the general manager, Lori Flanigan, knew the dealership would need a very different approach to reshaping its future. An immediate staff overhaul, systems upgrade and after-sales service regeneration were just the beginning. Toby then redesigned and modernized the interior and, most importantly, the philosophy of the dealership. Hot Metal Harley-Davidson has become known for its family values and committed, hard-working staff who have a passion for motorcycles. Their mission statement was: “We make dreams come true through the motorcycle riding experience, providing enthusiasts with a legendary selection of motorcycles, branded products and world-class service that is personal.” In its dealings with customers, suppliers and employees, Hot Metal Harley-Davidson is committed to promoting absolute integrity through honesty, fairness, dedication, loyalty and passion, and the enrichment of the community through leadership through participation in civic and charitable endeavours.
Following the sale, O’Brien commented, “I knew George Chaconas of Performance Brokerage Services for many years and I finally made the decision to sell my Harley-Davidson dealership and hire George and his team. George was able to identify several buyers, but ultimately we negotiated a buy-sell deal with the Verackas. Unfortunately, Harley-Davidson Motor Company decided to exercise its right of first refusal and assign the asset purchase agreement to the three surrounding dealerships and close the location. With a very heavy heart, this was not what I expected for my 18 year legacy as a dealership, amazing staff and loyal customers. I hope that my employees will be able to get jobs at surrounding dealerships and that my customers will benefit from the exceptional customer service that they have become accustomed to. Hot Metal Harley-Davidson was a big part of my life, and it wasn’t an easy thing to go through. I appreciate George Chaconas and his partner, Courtney Bernhard, for helping me through this very difficult, challenging and emotional situation for me and my family. I highly recommend George and his team when considering the sale. I also want to sincerely thank my dedicated staff and clients who have become like family to me. Hot Metal Harley-Davidson will always hold a special place in my heart.”
Over the past 5 years, Performance Brokerage Services has advised the sale of over 250 dealerships, making it the largest dealership brokerage firm in North America. In 2021, the company completed over 72 transactions, marking a record year. George C. Chaconasexclusive advisor on this transaction and Head of the National Harley-Davidson and Motorsports Division for Performance Brokerage Services, said, “I had the pleasure of meeting Toby at the Harley-Davidson Dealer Show in Boston over 5 years ago, and we have since developed a friendship. We recently started talking about his exit strategy since he had no succession plan. While talking to several prospects, we finally negotiated an interesting purchase with the Verackas. Harley-Davidson Motor Company exercised its right of first refusal, awarding the purchase contract to the three surrounding dealerships to consolidate the deal. I wish Toby and his family the best and continued success to the surrounding dealers.”
The dealership has closed and its customers will now be served by Three Rivers Harley-Davidson at GlenshawSteel City Harley-Davidson in Washingtonand Z & M Harley-Davidson in Greensburg, Pennsylvania.
The seller was represented by Joshua M. Farber of Clark Hill PLC.
The buyer was represented by William R. Lauer of Allegheny Capital, LLC.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is the nation’s largest dealer brokerage firm specializing in buy-sell business for automobile, commercial truck, motorcycle, recreational vehicle and equipment dealers.
With over 25 years of experience, 700 dealerships sold and a 90% closure rate, the company’s reputation is unmatched and governed by the highest ethics and integrity.
The company offers a unique approach by providing free value estimates with no upfront fees, no fee refunds, and paying a success fee after the deal closes.
Based at Irvine, Californiaand supported by 5 regional offices in Utah, Florida, Texas, Virginia and New Jerseyclients benefit from national visibility with local representation.
As trusted and respected experts in the field, the company utilizes an extensive network of attorneys, accountants, hundreds of registered buyers, and longstanding relationships with most automakers.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Courtney BernhardPerformance Brokerage Services, 813.753.7262, [email protected]
George ChaconasPerformance Brokerage Services, 813.245.2535, [email protected]
SOURCE Performance Brokerage Services