John Schenden buys Chrysler Dealership in Santa Maria, CA

[XDCX]

I was getting caught up on my emails and noticed that John Schenden and two other individuals bought Iversen Motors in Santa Maria, CA.

I don't know John Harris or Dave Wick but it would be cool if John was helping some of his managers get their first store buy structuring a buy-in/buy-out.

For those who might remember, John Schenden was Chrysler's National Dealer Relations Manager back in the late 80s or early 90s. He transitioned to retail by buying into Pro Jeep in Denver, CO and he would often be quoted by Automotive News and the Wall Street Journal making sure the concerns of the dealers were brought to the forefront.

Concerning Iversen Motors, I had an opportunity to call on the dealership when I was working out of the West BC. Iversen was a great dealership and they were well liked and respected within their community. Sadly, they fell victim to the mess associated with the Chrysler Financial to GMAC transition and they've been trying to survive without a floorplan for the past two years.

On a final note, a tip of the hat to Moshe Stopnitzky and his team at Performance Brokerage Services for structuring and executing a complex transaction.

[Moshe @ Performance Brokerage Services]

Thank you Scott for the kind words.

This was one deal that we worked real hard to make happen and are delighted that we were able to help the sellers.

We are confident that the buyers will turn the acquisition into a huge success.

The following is John Schenden's reaction:
"I have known the key management staff of Performance Brokerage Services for more than twenty-five years. During the past twenty years at retail, I have been contacted by most of the large automobile brokerage firms to sell or buy dealerships. This past year I had the experience to participate in a purchase of a dealership using Performance Brokerage Services. They made a very difficult situation happen. I am grateful for their tenacity."
John J. Schenden
Denver, Colorado

[XDCX]

Originally Posted by Moshe @ Performance Brokerage Services

Thank you Scott for the kind words.

This was one deal that we worked real hard to make happen and are delighted that we were able to help the sellers.

We are confident that the buyers will turn the acquisition into a huge success.

The following is John Schenden's reaction:
"I have known the key management staff of Performance Brokerage Services for more than twenty-five years. During the past twenty years at retail, I have been contacted by most of the large automobile brokerage firms to sell or buy dealerships. This past year I had the experience to participate in a purchase of a dealership using Performance Brokerage Services. They made a very difficult situation happen. I am grateful for their tenacity."
John J. Schenden
Denver, Colorado

That's a great testimonial.

Given the number of Chrysler Dealer closings that occurred in Central California I'm confident John Schenden and his partners will do well with their new dealership.

[XDCX]

Originally Posted by XDCX

I don't know John Harris or Dave Wick but it would be cool if John was helping some of his managers get their first store buy structuring a buy-in/buy-out.

I received a PM from one of our members that John Harris is the dealer who was running Fresno Dodge before it consolidated as part of Project Genesis. While I'm not sure, I think John's father, Bucky Harris, used to work for Chrysler in an executive capacity.

Perhaps that's how they know John Schenden?

[Moshe @ Performance Brokerage Services]

John Harris owns the Infiniti of Fresno and the Nissan of Clovis. And yes, John's father was an executive at Chrysler.

[XDCX]

Originally Posted by Moshe @ Performance Brokerage Services

John Harris owns the Infiniti of Fresno and the Nissan of Clovis. And yes, John's father was an executive at Chrysler.

Thanks for the information.

I just received an email from an individual who reads the forum and he remembers Dave Wick when he was the General Manager at Integrity Chrysler, Jeep, Dodge in Las Vegas. So now we know all the players.