Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Ernst Toyota and Ernst Chevrolet GMC in Columbus, Nebraska from Jim and John Ernst to Gregg Young Automotive Group.
Ernst Auto Group has been family-owned and operated for 64 years and has consistently been recognized for their outstanding customer service and satisfaction. In 2014, Ernst Toyota received the highly coveted President’s Award, the highest honor that can be awarded to a Toyota dealership.
John Ernst, son of Jim Ernst, was one of 49 nominees for the prestigious Time Dealer of the Year Award. After the sale, John Ernst shared, “Paul Kechnie and Eric Scott were professional, trustworthy, and there every step of the way throughout this process. Both stores sold at different times and Eric was there each time. What started out as an easy deal ended up becoming a complicated sale that dragged out for quite some time. Without their expertise, the deal would have certainly fallen apart. They did a great job not only with the buyer and keeping him motivated, but they kept me motivated throughout the transaction. Maintaining the legacy of my family’s 64-year-old business was of utmost importance to me, and Eric and Paul were there to find the perfect buyer and make sure I was making the right decision in selling. They were truly great to work with.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. Paul Kechnie, Senior Partner, and Eric Scott, Partner of the Texas & Midwest Office for Performance Brokerage Services were the exclusive advisors for this transaction.
Eric Scott shared, “It was a privilege to be a part of this transaction, and I am thrilled with the result we achieved for the Ernst family. When the time came for the Ernst family to divest, we were honored to be a part of the process. We ended up closing the two stores separately, which pushed our timeline out, and John was extremely patient and on-top of everything throughout the process. John and I had the opportunity to spend a lot of time together, and we have become great friends. I am pleased that we found the perfect buyer for his family.” Scott added, “Gregg Young is a great person and businessman, with much success in Nebraska. I expect he will do an excellent job for the employees and the people of the community. We expect nothing less than what the Ernst family has done over the past 60 years, and I know he will carry on the tradition of customer and employee satisfaction. I hope to work with him again in the future.”
Gregg Young Automotive Group is a family-owned, full-service automotive dealership, with over a dozen dealerships spanning across Wisconsin, Iowa, and Nebraska. President and Owner, Gregg Young, began in the automotive industry over 30 years ago as a used car salesperson. He then became a General Sales Manager, and after learning the ins and outs of the business, ultimately became a dealer. Young was recognized as one of 50 car dealers nominated for the prestigious Time Dealer of the Year Award. Young, commented, “This is my eighth closed transaction with Performance Brokerage Services. Paul Kechnie and Eric Scott continue to help us grow our family of dealerships. They are great to work with and support us throughout the entire process. They work very hard not only to find us opportunities, but then navigate them through to a smooth closing. Paul and Eric are the kind of people we want to work with.”
Ernst Toyota will be renamed Gregg Young Toyota of Columbus and remain at its current location at 815 East 23rd Street in Columbus, Nebraska. Ernst Chevrolet GMC will be renamed Gregg Young Chevrolet GMC of Columbus and remain at its current location at 615 East 23rd Street in Columbus, Nebraska.
