Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Team Chevrolet GMC in Alice, Texas from Mike Terry Auto Group to Payne Auto Group.
Mike Terry, President of Mike Terry Auto Group, began his automotive career in 2010. He advanced through management roles in sales, finance, service, and operations before purchasing his first dealership in 2019 with the help of Performance Brokerage Services.
Under Mike’s leadership, Mike Terry Auto Group has grown into a multi-dealership organization serving communities across Mexia, Refugio, and Silsbee, Texas. The group represents brands including Chevrolet, GMC, Ford, and Hyundai. Several acquisitions were completed with the support of Performance Brokerage Services, helping drive strategic growth across the state.
Mike Terry Auto Group has earned numerous accolades, including Elite Dealer awards, Mark of Excellence honors, and regional sales championships. Family involvement remains central to the organization, with active participation in local events, charitable initiatives, and educational programs.
Following the sale, Mike Terry shared, “I’ve known Paul Kechnie of Performance Brokerage Services for many years, and when it came time to sell Team Chevrolet GMC, there was no question who I wanted handling the transaction. Paul approached the process with professionalism, transparency, and a steady hand from start to finish. He kept everything on track and made everything seamless. I couldn’t have asked for a better advisor.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of nearly 400 dealerships, making it the highest volume dealership brokerage firm in North America. Paul Kechnie, Senior Partner, Matt Willis, Partner, and Jamie Farley, Partner, of the Texas & Midwest Offices for Performance Brokerage Services were the exclusive advisors for this transaction.
Paul Kechnie commented, “It was an honor to represent my longtime friend, Mike Terry, in the sale of Team Chevrolet GMC. Mike has built a strong, well-run dealership, and I’m grateful for the trust he placed in me during this transition. It was equally a pleasure working with Austin and Mark Payne of Payne Auto Group, whose professionalism and vision for the store made this a smooth and collaborative transaction. I congratulate both parties and am proud to have helped bring the right people together for the next chapter in Alice.”
Payne Auto Group was founded in 1949 and operates more than 10 dealerships across South Texas.
Beyond automotive operations, Payne Auto Group is deeply committed to supporting local communities. Programs include the Payne Auto Group High School Cash Scholarship, awarding $1,000 annually to outstanding seniors from more than 28 schools, and a $1 million donation recently made to Driscoll Children’s Hospital Rio Grande Valley for the hospital’s newly accredited Pediatric Residency Program. The company also supports sponsorships, community projects, and other educational initiatives across the region.
Team Chevrolet GMC will be renamed Payne Alice Chevrolet GMC and will remain at its current location.
