C & B Powersports Acquires Okoboji Indian & Okoboji Motorsports in Spirit Lake, Iowa
December 7, 2021
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Okoboji Indian and Okoboji Motorsports in Spirit Lake, Iowa from Ken Kemna to Peter Burwell of C & B Powersports, LLC, a division of C & B Operations, LLC. This transaction was exclusively facilitated by George C. Chaconas and Courtney Bernhard from the Powersports Division of Performance Brokerage Services.
Okoboji Indian was established in 2017 by Ken Kemna, who has a well-known history in the automotive industry, including being nominated for the prestigious TIME Dealer of the Year Award in 2016. As an active member of his community, Kemna has contributed more than $150,000 by sending packages to US troops and was recognized by the Iowa National Guard with a flag flown over Afghanistan. Kemna, who has been known to establish businesses in smaller and often overlooked communities, realized a great opportunity to open the powersports dealership in the hometown of Indian Motorcycles.
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 250 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company expects to consummate over 70 transactions, marking a record-breaking year. George C. Chaconas, Southeast Partner and head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services, commented, “It was definitely a pleasure to work with such a professional and highly respected client as Ken Kemna in selling his one-of-a-kind Indian dealership in Spirit Lake. I am happy that we were able to identify the perfectly qualified candidate to buy their dealership. The closing went very quickly, and I am very grateful to have been a part of another successful buy-sell.”
C & B Operations, LLC owns and operates 37 John Deere dealerships in Iowa, Idaho, Wyoming, Montana, Minnesota, and South Dakota. The acquisition of Okoboji Indian was strategic for the company’s projected growth. Peter Burwell, the Chairman and CEO of C & B Operations, LLC, stated, “We are very excited about our new partnership with Polaris and Indian as we continue to bring brands with the highest levels of quality to our customers. We also believe that bringing John Deere Turf and Utility products to the Spirit Lake area demonstrates C & B’s commitment to that strategy. Please come and check out the store!”
Following the sale, Courtney Bernhard of Performance Brokerage Services, commented, “You never know where you will be when a call comes in about buying or selling a dealership. I am very pleased that I was able to connect with this group as I knew this opportunity would be a perfect fit. I look forward to helping them identify new opportunities in the future.”
The dealership will remain at its current location at 4105 Highway 71 in Spirit Lake, Iowa and be renamed C & B Powersports. The dealership offers a state-of-the-art facility and represents a wide variety of brands.
About Performance Brokerage Services