FORT COLLINS, Colo., June 8, 2021 (Newswire.com) - Northern Colorado Powersports (NOCO), a leading BMW, Triumph, and BRP (can-am, sea-doo, ski-doo) dealership located on I-25 in Fort Collins, Colorado is under new ownership after 13 years under owner Michael Hendry who purchased the dealership as a BMW only operation in 2008 at a former Loveland, CO location. Hendry added the Triumph Motorcycles line in 2008 and moved the dealership to its current Fort Collins location in 2013 which provided the additional space to add the full BRP lineup (can-am, sea-doo, and ski-doo). Michael Hendry together with his son Brad Hendry as the onsite General Manager, operated NOCO with a stated mission of "building lasting relationships with our partners and employees while serving the recreational and travel community with core values of Honesty, Integrity, and Service to the Community."
In a decision to retire, Hendry, a long time successful powersports dealership operator of multiple locations in Colorado contacted Mike Pate, Managing Director of PLMA, to consider handling the sale of his dealership assets in Fort Collins, Colorado. Mike Pate accepted the assignment and successfully connected with Michael Maledon, Executive VP of the Elway Dealer Group and hammered out a deal for the purchase and sale of NOCO.
This acquisition marks the first Powersports dealership to join John Elway's house of six Automotive dealership locations in Colorado and California. The Elway Dealer Group operates its dealerships with a World Class roster of over 1,000 individuals who demonstrate a passion for exceeding the expectations of customers while selling over 18,000 and servicing over 100,000 vehicles each year.
The buy-sell transaction closed on Monday, June 7th 2021 and the Elway Dealer Group company PS CO1, LLC took over operational control the same day.
"We are unbelievably excited to welcome the Elway Dealer Group to our Powersports Industry." Tom Macatee, PLMA CEO
Powersports Listings Mergers & Acquisitions (PLMA), the professional powersports industry dealership brokerage centrally located in Dallas, Texas, managed the transaction as the Seller's representative with team members:
Tom Macatee, CEO
David Clay, CIO
Mike Pate, Managing Director
Jerry Szopinski, President of Sales & Networking
Tom W. Macatee
Phone: 800-399-4654 ext. 101
Source: Powersports Listings Mergers & Acquisitions