Five Star International Buy Tri County International in Johnstown, Pennsylvania
August 6, 2020
Performance Brokerage Services, a new car and commercial truck dealership broker is pleased to announce the sale of Tri County International truck dealership in Johnstown, Pennsylvania from Edward Wian to Five Star International, LLC
Tri County Motor Sales, Inc. doing business as Tri County International in Johnstown, Pennsylvania provided sales and service for commercial trucks including the International franchise by Navistar. The business was founded by the Wian family in 1956 and moved to its current location in 1970. In 1993, Edward Wian took the reins of the family-owned dealership. After nearly 30 years as the dealer operator, Wian made the difficult decision to sell his dealership and retire from the trucking business. Wian shared, “Life and business are about timing. I sold my business at the right time and I’m thankful for all the years I had to serve my customers and help my employees. I will miss them, but they are in good hands. Taking care of my employees was a very big deal for me and finding the right buyer for my dealership was paramount to the sale.” Wian sold the operating assets of Tri County Motor Sales, Inc. to Five Star International, LLC and Fred Scheler, President of Five Star International, LLC.
Wian hired Dan Argiro, the head of the Commercial Truck Division for Performance Brokerage Services, to represent him in the sale of his business. “I thought long and hard about selling the dealership myself, but I wanted to make sure I was doing the best for my family and my employees. I trusted Dan and Performance Brokerage Services to sell my dealership after 64 years in the family. I couldn’t be more pleased with the service, professionalism, honesty and integrity that Dan brought to this deal. They kept my information confidential and made a difficult and complex process as smooth as possible. Dan was able to help me navigate the sale of my dealership and play a major part in this life changing event for my family and me.”
Over the last 5 years, Performance Brokerage Services has represented for sale over 200 automotive dealerships making it the highest volume automotive dealership brokerage firm in North America. Dan Argiro, the exclusive agent for this transaction and the head of the Commercial Truck Division for Performance Brokerage Services commented, “It brings me great pleasure to help dealers and their families move onto the next phase in their lives. Helping them sell their dealerships for the best price to the right buyer is what it’s all about. I am proud to have played a small part in Mr. Wian’s life so that he may pursue the things he has always wanted to do beyond the dealership.”
Fred Scheler, President of Five Star International, LLC, is a seasoned truck dealer operating International truck dealerships throughout Pennsylvania under the well-recognized and well-respected brand, Five Star International. Fred Scheler is a natural fit to carry on the legacy Edward Wian built over many years and to take the dealership to new heights. This acquisition was a great strategic fit to complement Five Star’s existing portfolio of International dealerships in Pennsylvania. Following the purchase, Fred commented, “We are extremely excited to have the opportunity to grow and expand on the foundation the Wian family built with Tri County Motor Sales since 1956. Ed Wian has been extremely helpful throughout the transition and will be helping Five Star through October. We look forward to building the International brand in Western Pennsylvania.”
The dealership will remain at its current location at 1575 Ferndale Avenue and operate under the new name of Five Star International, LLC. The dealership will also offer truck leasing through its sister company Five Star Idealease, LLC providing daily commercial rentals, full-service leasing and contract maintenance solutions.
Testimonial from Edward Wian, Seller
“I sell trucks. I don’t sell truck dealerships”. That’s the first thing I said to Dan Argiro at Performance Brokerages Services when we met. I trusted Dan and Performance to sell my dealership after 64 years in the family. I couldn’t be more pleased with the service, professionalism, honesty, and integrity that Dan brought to this deal. He was always available to me. Nights, weekends, and holidays. Communication is critical in any business and Dan is one of the best. He kept my information confidential and made a difficult and complex process as smooth as possible. Dan was able to help me navigate the sale of my dealership and play a major part in this life-changing event for my family and me. Taking care of my employees was a very big deal for me and finding the right buyer for my dealership was paramount to the sale. Dan and Performance Brokerage Services delivered on everything they promised. I highly recommend Dan Argiro and Performance for any dealer that is looking to buy or sell a dealership in North America.
Exit Interview with Edward Wian
Why did you choose to work with a broker?
I thought long and hard about selling the dealership myself. Like most dealers, I talked to fellow dealers that bordered my AOR over the years. A few times, we came close to a deal, but I wanted to make sure I was doing the best for my family and my employees. The only way to make that happen, in my opinion, was to hire an expert in the industry to reach out to qualified buyers and find the best buyer for my dealership.
Why did you decide to hire Dan Argiro and Performance Brokerage Services?
Initially, it was because Dan and Performance Brokerage Services specialized in the commercial truck industry. However, after interviewing Dan, I learned about his experience and what he could bring to the table to help market and sell my dealership. That was what finalized it for me. In the end, I made the right decision.
What about the process surprised you the most?
Not having ever sold a dealership before, I think the most surprising part was the amount of documentation needed for due diligence. Dan helped me navigate through the sea of paperwork and it was much more intense than I ever thought. It would have been challenging to do it on my own.
Now that your dealership has been sold, do you have any regrets?
None. I will miss my employees and my customers, but I can still be friends with all of them. Life and business are about timing. I sold my business at the right time and I’m thankful for all the years I had to serve my customers and help my employees. They are in good hands and that’s why finding the right buyer was so important to me.
What advice would you give other dealers that are thinking about selling a dealership?
My advice would be to understand what it is they do best. For me, it was selling trucks. I make it a habit to hire great people to provide great service in whatever field they are experts. Sure, any dealer can sell their dealership. However, there is a big difference in selling the dealership to the right buyer for what it’s worth on the market. Life is short. If you are thinking about selling, explore your options, don’t just talk to the guy next door and think that’s all there is. Give Dan a call. He will take care of you like you are family.