Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Steve Schmitt Kia in Florissant, Missouri from Steve Schmitt Auto Group to Lou Fusz Automotive Network.
Steve Schmitt Auto Group has been in the automotive business for over 90 years. The dealership group consists of two locations in Highland and Litchfield, Illinois, representing Chevrolet, Buick, and GMC. Dealer Principal Steve Schmitt commented, “Selling our dealership with Performance Brokerage Services was a great experience from start to finish! With their extensive network and knowledge, Mark Shackelford and his son, Mark Jr., were able to find the best buyer for the best possible price. Mark and Mark Jr. made the entire process easy, which enabled me to remain focused on my regular day-to-day business operations. They kept me well-informed and were an excellent guide throughout the process, all the way to the closing of the deal. I’ll always call Mark Shackelford with Performance Brokerage Services for all of my future buy-sell business needs.”
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 Mark Shackelford, Sr. and Mark Shackelford, Jr., Partners of the Texas & Midwest Offices for Performance Brokerage Services were the exclusive sell-side advisors for this transaction.
After the sale, Mark Shackelford, Sr. commented, “We want to thank Steve Schmitt, Sr. and Steve Schmitt, Jr. for allowing us the opportunity to represent them in the sale of their Kia store in Florissant, Missouri. They were a pleasure to work with and we wish them the best of luck as they continue to focus on their GM stores.” Mark Sr. added, “This was the second transaction we have worked on with Lou Fusz Automotive Network. The Fusz brothers and their staff have been great to work with. They’ve been extremely reasonable and have worked diligently to keep the process moving along from start to finish. We look forward to continuing to help them grow their footprint.”
Lou Fusz Automotive Network was founded in 1952 by Louis Fusz, Sr., growing from a single Dodge and Plymouth dealership into one of the largest automotive groups in the St. Louis region. In 1969, his son, Lou Fusz, Jr., joined the company as CEO after graduating from college. In 2014, Lou Fusz, Jr. took over his father’s position as Chairman of the Board, while his sons Randy Fusz, Lou Fusz III, Peter Fusz, and Patrick Fusz assumed key leadership roles, with Randy serving as President and CEO, and Lou Fusz III, Peter Fusz, and Patrick Fusz serving as Chief Operating Officers. Randy Fusz commented, “Performance Brokerage Services plays a crucial role in ensuring efficient and effective transactions in the buy-sell of dealerships. Their expertise in understanding both buyers’ and sellers’ wants and needs helps for easy execution on behalf of their clients. With a focus on personalized service and timely responses, these brokers empower dealers to turn a relatively lengthy transaction into a rather seamless process. Their commitment to transparency and reliability builds trust, making them invaluable partners for those looking to sell and purchase dealerships. Overall, Performance Brokerage Services, and specifically, Mark Shackelford, significantly enhanced the buy-sell experience, and why we have teamed up on a couple of transactions.”
Lou Fusz Automotive Network is ranked #107 on the 2024 Automotive News Top 150 Dealership Groups based on 2023 new vehicle retail sales units. The group is comprised of 18 dealerships across Missouri, Illinois, and Indiana.
Steve Schmitt Kia will be renamed Lou Fusz Kia of North County and will remain at its current location at 11655 New Halls Ferry Road in Florissant, Missouri.
