Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Genthe Honda in Southgate, Michigan from Richard Genthe to Tom and Bill Reineke of Reineke Family Dealerships.
Genthe Honda was established in 2014 in the community of Southgate, Michigan by Richard Genthe, President of Genthe Automotive. Genthe, known by locals as ‘Dick’, got his start in the automotive industry working part-time at his family’s dealership at the age of 14. After graduating from college in 1974, he joined his family’s business full time.
Genthe currently owns and operates Dick Genthe Chevrolet of Southgate, and sits on the board of directors of the National Automobile Dealer’s Association representing metro Detroit’s new car dealers.
Following the sale, Emily May, General Manager at Genthe Honda commented, “Mark Shackelford of Performance Brokerage Services got us more than we originally expected for the sale of our dealership. The process was smooth, and he helped to facilitate a buyer that we feel will continue to operate the store in a family-oriented manner.”
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.
This transaction was exclusively facilitated by Performance Brokerage Services Texas & Midwest Offices, managed by Paul Kechnie, Senior Partner, and Mark Shackelford, Partner. Shackelford commented, “Congratulations to the Genthe family on the sale of their dealership! I have known the family for over a decade and appreciate them allowing me to represent them in this transaction. From the very beginning they were great to work with and I wish them all the best.”
Tom Reineke, President of Reineke Family Dealerships, and Bill Reineke, Principal, come from a family with a long history in the automotive industry. Reineke Family Dealerships was established in 1960 when Bill Reineke Senior opened his first car dealership, Reineke Buick Oldsmobile in Fostoria, Ohio. In 1967, Bill Senior was welcomed into the Ford Motor Company as a dealer, and later opened Reineke Ford in 1972, which stands at its original location today just north of Fostoria, Ohio.
With the addition of Genthe Honda, Reineke Family Dealerships currently operates out of 12 locations. The acquisition of Genthe Honda is the company’s first in the state of Michigan, and the group has plans to continue their expansion.
Genthe Honda will remain at 15100 Eureka Road in Southgate, Michigan. The dealership has been renamed Southgate Honda.