Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Gregg Young Ford Ottumwa in Iowa from Gregg Young Automotive Group to Vaughn Automotive.
Gregg Young Automotive Group is proudly celebrating 25 years of serving the Midwest. With over a dozen locations across Wisconsin, Iowa, and Nebraska, the group has established a strong regional presence.
Gregg Young, President and Owner, began his automotive career more than 30 years ago as a used car salesperson. He quickly rose through the ranks to become a General Sales Manager, and after gaining a deep understanding of the industry, went on to become a dealer. In recognition of his leadership and accomplishments, Young was nominated for the prestigious Time Dealer of the Year Award in 2016.
After the sale, Gregg Young shared, “Working with Matt Willis of Performance Brokerage Services was an excellent experience from start to finish. Matt did a great job finding the perfect buyer to continue representing the Ford brand in Ottumwa, and he worked tirelessly to make sure the deal went smoothly through every stage of the process. Matt’s background as a fellow Iowa native brought a unique advantage — his deep connections and understanding of the Midwest and Iowa markets clearly made a difference in getting this deal across the finish line. We always enjoy our partnership with Matt Willis, Paul Kechnie, and the entire Performance Brokerage Services team, and we look forward to many more years of partnership and success together.”
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 and Matt Willis, Partner of the Texas & Midwest Offices for Performance Brokerage Services were the exclusive advisors for this transaction.
Matt Willis commented, “It was a true pleasure representing both sides in the sale of Ford of Ottumwa. I really enjoyed working with Gregg Young and his team, as well as Chad VanNess and his team, to bring this transaction together seamlessly. Another successful Iowa buy-sell makes me especially proud. Having spent more than 25 years in the Iowa auto business, my goal is to continue building the trust of Iowa dealers and to be the go-to broker for all dealership transactions across the state. Working with great people like Gregg and Chad reinforces why I’m so passionate about this business.”
Vaughn Automotive has served the Ottumwa community for over 90 years. Originally established as a Chevrolet dealership in 1934, the business expanded to include Cadillac in 1941. In 1985, Vaughn Automotive broadened its offerings by adding all Chrysler franchises, and in 1987, the dealership added the full lineup of General Motors brands. Today, the group operates three dealerships in Ottumwa, Iowa, representing Chevrolet, Cadillac, Buick, GMC, Chrysler, Dodge, Jeep, Ram, and Ford.
Chad VanNess, President of Vaughn Automotive, shared, “Matt Willis and the Performance Brokerage Services team did an excellent job helping me acquire the Ford franchise to include on our campus here in Ottumwa. I’m thrilled with the experience and the professionalism Matt brought to every stage of the process. He did an outstanding job connecting with me, keeping things on track, and seeing the deal through from start to finish. Matt was awesome to work with throughout the entire process, and I look forward to working together again in the future.”
Gregg Young Ford Ottumwa will be renamed Vaughn Ford Ottumwa. The Ford inventory will be relocated to 1323 Vaughn Drive in Ottumwa, Iowa, while construction begins on a new showroom and service department, expected to be completed within the next three years.
