Asbury Automotive Group Acquires Arapahoe Hyundai & Genesis of Arapahoe in Centennial, Colorado
December 1, 2021
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Arapahoe Hyundai and Genesis of Arapahoe in Centennial, Colorado to Asbury Automotive Group from the Zinsmeister Family.
Arapahoe Hyundai has been serving its community for almost 20 years and has been the #1 Hyundai volume dealer in Colorado for 14 years in a row. The dealership is family-owned and operated by the Zinsmeister Family, father and son, who are better known to their customers as “Z” and “Big Z”.
“My wife and I met Jonny and John Mecham of Performance Brokerage Services for the first time over lunch during one of their visits to Denver. We instantly felt their sincere desire to achieve our family’s goals and had our best interest at heart”, shared David “Z” Zinsmeister.
“My dad, ‘Big Z’, was looking to retire and I aspired to spend my days with my young family. John described loving the moment when a former dealer calls to tell him when they first experience ‘being where they are’ and being present in their life outside of work for the first time after selling their store. This resonated with me instantly. From there, Jonny took the reins navigating us through the finish line with an offer even better than we had hoped, while also developing what is to be a great friendship along the way. Asbury came ready with a team of fast and efficient representatives, and I was determined to take on the challenge of keeping up with them. Jonny and John never missed a beat and there would never have been an Asbury/Arapahoe Hyundai deal without them and Performance Brokerage Services”, concluded David “Z” Zinsmeister.
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 250 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company expects to consummate over 70 transactions, marking a record-breaking year. Jonny Mecham, the exclusive agent for this transaction and one of the Rocky Mountain Partners for Performance Brokerage Services commented, “This was an exciting transaction to be a part of. ‘Z’ and ‘Big Z’ have been a top Hyundai dealer right from the start, creating a situation where the buyers showed up to the closing and immediately felt the energy of the store. Both parties worked closely together for the last few weeks to ensure the smoothest transition possible. It was a testament to good people working together for a common goal.”
Asbury Automotive Group is one of the largest public automotive retailers in the United States. The group is made up of over 80 dealership locations, offering nearly 30 domestic and import brands, located across nine states. Asbury ranks No. 6 on Automotive News’ list of the top-150 dealership groups based in the U.S., with retail sales of 95,165 new vehicles in 2020, and already setting a record third quarter in revenue and net income. This acquisition marks their 4th dealership in Colorado.
Randy Callison, VP of Corporate Development for Asbury Automotive Group, commented, “We’ve known Jason Stopnitzky at Performance Brokerage Services for a long time, and they’ve always been a trusted resource for us. They have a wealth of experience and truly understand the complexities of the business. This was our first time working with Jonny and his father, John Mecham, and they approached things with the same expertise. They did a terrific job of bringing both parties together from start to finish, tackling issues efficiently. I think ‘Z’ and Jonny’s collective teamwork ensured one of the easiest transitions I’ve had the pleasure to be a part of. I would confidently recommend Jonny and John Mecham and Performance Brokerage Services and look forward to working with them again in the future.”
The dealership will remain at its current location at 9899 East Arapahoe Road in Centennial, Colorado.