Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Charles Auto Family, a Chevrolet dealership in Garrettsville, Ohio to Sarchione Auto Group.
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Charles Auto Family, a Chevrolet dealership in Garrettsville, Ohio to Sarchione Auto Group.
Charles Auto Family has been in business since 1957, serving Garrettsville and the greater Cleveland market. Their dedication to customer service and sales performance earned them the prestigious General Motors Mark of Excellence Award in 2017.
Charles Auto Family’s dedication to philanthropy is seen and felt throughout their community, working with many local organizations, and giving back to the community that has supported them over the past 66 years. A large portion of their charitable contributions are given to local schools, Hattie Larlham’s organization for people with intellectual and developmental disabilities, Saint Ambrose Church, and Leadership Portage County.
Following the sale, Charles Auto Family Dealer Principal, Bruce Abraham, remarked, “The Shackelford’s were very engaging in helping me come to terms with selling my family’s business of 65+ years, which was not an easy decision. They brought me a very qualified buyer and helped me understand the process and documents needed to get the job done. It’s really nice to see a father-son team working together in this day and age. Both were very polite and professional. They made the transaction smooth and non-regrettable. Well done gentlemen.”
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. Mark Shackelford, Partner and Paul Kechnie, Senior Partner of the Texas & Midwest Offices for Performance Brokerage Services, were the exclusive advisors for this transaction.
Shackelford remarked, “Opportunities to work with Bruce Abraham and Charles Auto Family are why we are in this business. We were blessed to help Bruce cash in on his 66-year-old family business. We thank you for the opportunity to play a part in this life transition for you and Cheryl and we wish you all the best in your retirement! This was the second opportunity we’ve worked together with John and Joe Sarchione of the Sarchione Auto Group. They are stand up guys and have been great buyers to work with, making it a fast and smooth transaction. Congratulations on your newest addition and best of luck in your continued growth!”
Sarchione Auto Group started as a small car lot in Alliance, Ohio, and has been family-owned and operated for over 100 years. The group operates six new car dealerships and one pre-owned car dealership across Ohio, representing Chevrolet, Chrysler, Dodge, Jeep, Ram, Ford, and Lincoln.
Joe Sarchione, Principal of Sarchione Auto Group commented, “We have completed our second transaction with Performance Brokerage Services, and again, it has been a pleasure working with Mark Shackelford and Mark Shackelford, Jr. I couldn’t be happier with the experience. Their responsiveness and dedication were truly impressive. They took the time to understand our needs to expand, and worked diligently to find a dealership that would fit and help us continue to grow. Mark’s expertise in the automotive industry was evident throughout the process. He truly understands the market and is committed to delivering exceptional results. I highly recommend Mark Shackelford for anyone looking to sell or acquire a dealership.”
Charles Auto Family will remain at its current location at 10851 North Street in Garrettsville, Ohio and will be renamed Sarchione Chevrolet II.