Motorcycle enthusiast and Seattle area public relations and marketing executive Melanie Wilhoite purchased the Wenatchee Yamaha, Polaris and KTM dealership in 2014 and it became one of the few woman-owned power-machine dealerships in the Northwest. Wilhoite believes in creating a great retail experience and this philosophy paid off with steady performance and annualized sales growth of over 15% from the year of acquisition.
Having gone through a dealership purchase on the buyer side, Wilhoite had a firm understanding of the multi-faceted and time-consuming journey ahead upon the decision to pursue her dealership sale. Understanding the great deal of coordination that would be involved between buyer, seller, legal counsel, OEMs and flooring companies, Wilhoite made the decision to contract with Powersports Listings M&A (PLMA) to be assured that her broker was experienced in selling dealerships with her specific OEMs and floor plan financing companies and understood the timing and processes of all the entities she works with as a franchised powersports dealership.
Wilhoite stated, “It’s critical to be able to produce accurate reports that back up the sales price. Being able to show PG&A, detailed new and used unit inventories, accurate payables, receivables, assets, liabilities and equity can make the difference between a deal happening or not. The Powersports Listings team understands this business information and what’s needed to present the dealership in the best light possible.”
PLMA’s marketing efforts identified Brandon Montgomery a construction industry professional and powersports on road, off road, and build enthusiast out of nearby Cle Elum, Washington as a perfect fit for the Wenatchee Powersports purchase.
Jerry Szopinski, PLMA president of sales & networking, managed the confidential introductions and meetings between the buyer and seller and the deal started to come together. Tom Macatee, PLMA CEO, personally managed the initial offer and purchase agreement negotiations and a formal deal was struck between Wilhoite and Montgomery paving the way for the ownership change.
David Clay, PLMA CIO, assisted Montgomery and his partners throughout the OEM application process and business plan construction to assure that time lines remained on track for the targeted closing date with necessary approvals from Yamaha, Polaris and KTM.
Wilhoite further commented, “PLMA took a lot off of my plate and was well worth their success fee. Representation by a broker that understands the business can make the difference between crossing the finish line or breaking down along the way. David Clay flew to the dealership for the closing and assisted on site with the final reports, calculations, and was my liaison to the buyer and attorneys. PLMA GETS IT!”
Montgomery took over the Wenatchee Powersports dealership operations on Tuesday, Nov. 12, 2019. Montgomery stated at closing, “I am ecstatic to be the new owner of Wenatchee Powersports. It’s a dream come true!”
Link: Powersports Listings