Navi Singh and VJ Sehdev of Ride Automotive Acquire Marin Mazda in San Rafael, California from Michael Glasser
March 1, 2023
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Marin Mazda in San Rafel, California from Michael Glasser to Navi Singh and VJ Sehdev of Ride Automotive.
Marin Mazda was established in 1980 and was purchased by Michael Glasser with partner Michael Brewer in 2017. Glasser has over three decades of experience working in the auto industry in the San Rafael area as a former owner of Scotland Car Yard and San Rafael Mitsubishi. After being acquired in 2017, the dealership relocated just down the road from its original location. Over the past five years, Marin Mazda has maintained a sterling reputation in the local community and consistently earned a spot as a CarFax top-ranked dealership.
Michael Glasser commented, “Jason Stopnitzky of Performance Brokerage Services is amazing. Early in the process he was generous enough to offer advice on what needed to be completed for the dealership to be sold. I worked on his suggestions and let him know I had the information ready after several months. He then asked me to send financials, reviewed them thoroughly, and came up with a selling price. One week later we were in escrow- it was so fast! He was generous with his time before we signed an agreement for him to represent us and then got a deal so quickly… but that’s just the beginning. Once we were under contract, he was amazing. There were so many phone calls from me with questions, and he always answered, texted, or called right back. Jason was always available- morning, evening, weekends, whenever. But that’s not the best part. During closing week, Jason was on site making sure all parties, 11 in total, completed all closing tasks. He’s an expert. He was well-prepared and made sure the endless amount of required closing documents were presented to the right people and signed. We got it done. But that’s still not the best part. Jason and I will be friends for life. Jason understood my unique situation of selling my baby that I created all on my own and has supported me in every way. He genuinely cared about helping me at all costs. I will never forget it and I am eternally grateful. Jason is a phenomenal agent and an even better person. Thank you to Jason and his team!”
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. In 2022, the company consummated 92 transactions, marking a record-breaking year. Jason Stopnitzky, the exclusive agent for this transaction and the Co-Founder of Performance Brokerage Services commented, “I can’t thank Michael Glasser enough for the opportunity to represent him through this major life transition. Marin Mazda was his life’s work, and I felt honored to be able to provide him white-glove service and professional advice. Mike ran an incredible business, he purchased a lackluster Mazda store and turned it into a beautiful, respectable facility. Mike also has an amazing reputation in the industry for being honest, fair, and exceptionally nice. When I walked around and talked to employees, it was obvious the entire team was happy to come to work and provide customers with a smile, further reaffirming my feelings about Mike. I wish him the best in semi-retirement.”
Navi Singh and VJ Sehdev of Ride Automotive currently own and operate two Canadian Kia dealerships, including the franchises #1 CSI ranked dealership in 2022 across the nation. This transaction marks Ride Automotive’s second acquisition in the United States, and the group is positioned to grow rapidly. The group has plans to acquire a third location with the assistance of Performance Brokerage Services in 2023 and continue their expansion across North America. Singh comments, “It has been a pleasure working with Jason and Performance Brokerage Services. There are no words to describe the time and effort Jason put into this deal to make this happen for us. He worked relentlessly and passionately throughout the process, and it has been a real advantage to have him on our side. We would, without doubt, recommend Jason and his team for any acquisitions or sales.”
The dealership will remain at its current location at 807 Francisco Boulevard East in San Rafael, California.
Michael Glasser was represented by Jason Cruz of Jason Cruz Law in Redlands, California.
Navi Singh and VJ Sehdev were represented by Les Chayo of Chayo Law in Beverly Hills, California.