Dobbs Equity Partners Acquires Ross Ford Toyota in Arkansas
October 12, 2020
Performance Brokerage Services, a new car and Harley-Davidson dealership broker, is pleased to announce the sale of Ross Ford Toyota of Wynne, Arkansas from Jim Ross to John Dobbs and Dobbs Equity Partners.
Ross Ford was purchased by Ray and Jim Ross in 1988. They relocated the dealership in 1991 and added Toyota to their lineup in 1998. A family owned business with an exceptional sales staff and service department, customers came in knowing they would get the service as if they were part of the family. Jim Ross and his commitment to stay on top of the rapidly changing industry from hiring women to top positions, embracing mobile technology and riding the social media wave led the dealership in the small town of Wynne, Arkansas to be named one of the 55 finalists for the 2015 TIME Dealer of the Year Award. Upon the sale Ross commented, “Over many years, I had been receiving emails and direct mail from George Chaconas of Performance Brokerage Services. I was considering retiring and I decided to call him. He immediately visited and we hit it off. I hired George based on his extensive experience, transparency, and honesty. George was able to identify the best buyer, Dobbs Equity Partners. Many thanks to George for his tenacity and perseverance. I am incredibly happy and starting to enjoy retirement! If you are like me and considering selling out, I would certainly recommend George Chaconas and Performance Brokerage Services.”
Over the last 5 years, Performance Brokerage Services has represented for sale over 200 automotive dealerships making it the highest volume dealership brokerage firm in North America. George C. Chaconas, the exclusive advisor for this transaction and the Southeast Partner for Performance Brokerage Services commented, “I sincerely appreciate the opportunity to exclusively represent Jim Ross and his family on the successful sale of their Ford and Toyota dealership after 32 years of ownership. I am incredibly grateful and honored to have helped Jim retire so he can spend more time with his family, travel and fish! I am delighted to help John Dobbs, Rick Greene and Mitch Ward grow their automotive dealership group. They were great buyers and a pleasure to work with. I wish everyone great success.”
Dobbs Equity Partners’ primary motivation for investing is to create value. Their strong management team has industry-specific operating experience, including automotive. Dobbs Family Automotive is a platform investment portfolio of franchised automobile dealerships. The family has a rich history in the automobile industry dating back to the 1920’s. Three generations of Dobbs family members have been involved with various domestic and import automobile manufacturers. Their current lineup includes Shawnee Mission Ford, Red River Dodge, Heber Springs, Red River Dodge Malvern, Red River Ford Cabot, Red River Preowned and Toyota of Longview. Rick Greene of Dobbs Equity Partners stated, “George Chaconas of Performance Brokerage Services introduced us to Ross Ford Toyota of Wynne, Arkansas which he felt would be an excellent opportunity to add to our existing group of automotive dealerships. George was very professional, efficient, and instrumental in helping negotiate the transaction. It was a pleasure working with George and we look forward to our next acquisition with him and Performance.”
The dealership will now be known as Red River Toyota and remain at its current location of 1903 N. Falls Blvd. Wynne, Arkansas.
The seller in this transaction was represented by Robert Bass and Greg May of Bass Sox Mercer
The buyer in this transaction was represented by Brian Nolen of Nolen, PLLC and Phillip DeBardeleben, CPA and Senior Manager, DHG Dealerships of Dixon Hughes Goodman LLP.