Navi Singh & Ravneet Malhi of Ride Automotive Acquire Simi Valley CDJR in California from Robert Bayer & Mac McKinley
February 2, 2023
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Simi Valley Chrysler Dodge Jeep Ram in Simi Valley, California from Robert Bayer and Mac McKinley to Navi Singh and Ravneet Malhi of Ride Automotive.
Robert Bayer, President of Simi Valley CDJR, has over three decades of experience in the automotive industry and has owned over a dozen dealerships across the western region. Bayer commented, “when I made the decision to sell my dealership, there was only one person I decided to call and that was Jason Stopnitzky of Performance Brokerage Services. I’ve known Jason throughout the years, but this was the first time I have worked with him. Jason found us a buyer in a short amount of time and was a pleasure to deal with. He was there every step of the way and the deal closed smoothly and as agreed-upon. I would be more than happy to go to Jason in the future to buy or sell another dealership.”
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 Co-Founder of Performance Brokerage Services commented, “I’ve known Robert for the last two decades and I truly admire his work ethic and business acumen. Robert built his auto group from the ground up, and I’ve always respected his drive and dedication. It was a pleasure working with Robert and Mac, and we are grateful that we were able to help transition ownership of Simi Valley CDJR into capable hands.”
Navi Singh and Ravneet Malhi 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 first acquisition in the United States, and the group is positioned to grow rapidly. The group has plans to acquire a second location with the assistance of Performance Brokerage Services within the quarter and have plans underway to expand to a third US location.
Navi Singh, President of Ride Automotive, remarked, “it has been a pleasure working with Jason Stopnitzky and Performance Brokerage Services on our first US acquisition. There are no words to describe the time and effort Jason put into this deal to make this happen for us. He worked tirelessly and passionately throughout the process, and it has been very advantageous having Jason on our side. We would recommend Jason and his team without hesitation for any acquisition or sale.”
Performance Brokerage Services looks forward to assisting Ride Automotive as they continue their expansion in the US. Stopnitzky commented, “Navi Singh has been a pleasure to work with since day one and his auto group shows tremendous promise. His consistency and accountability made it easy to close the deal in a timely manner, and Performance Brokerage Services feels privileged to be a part of Ride Automotive’s growth.”
The dealership will remain at its current location at 2350 First Street in Simi Valley, California.
Robert Bayer and Mac McKinley were represented by Michelle J. Berner, Esq. of KroescheSchindler, LLP in Irvine, California.
Navi Singh and Ravneet Malhi were represented by Les Chayo of Chayo Law in Beverly Hills, California.