EVERETT, Wash., May 2 /PRNewswire-FirstCall/ — MD Johnson, Inc. announces that Becci Stupey, dealer principal of Harbour Pointe Lincoln Mercury Mitsubishi has entered into an agreement with Ford motor Company to acquire the companies Lincoln Mercury sales and service agreement as well as all associated assets. In addition Rock Peterson of Brien Ford has entered into a definitive agreement to acquire the Mitsubishi franchise and all associated assets, and the announcement that the Mitsubishi franchise will be relocated to the Brien Ford facility in Everett, Washington Ford motor Company has acquired the Lincoln Mercury Franchise as part of Ford motor Company’s overall plan to reduce dealership outlets throughout the US. The Mitsubishi dealership will be renamed Brien Mitsubishi. In addition to purchasing the Mitsubishi dealership, Harbour Pointe Lincoln Mercury will be referring their Lincoln Mercury customers to Brien Ford for service.
MD Johnson, Inc. was engaged to advise Stupey on the consolidation process and to negotiate the sale of the franchises with the respective buyers. Peter Christopher and Todd Farabee from the Ford motor Company NW Regional Sales Office structured and approved the Lincoln Mercury acquisition on behalf of Ford motor Company. Mark Johnson, President of MD Johnson Inc. stated that “Ford was aggressive and professional in executing their plan to consolidate the market and acted swiftly in accommodating the transaction.” Stupey is the daughter of Dick Ollinger, a long time Ford dealer and previous owner of Harris Ford in Lynnwood, Washington. Ollinger sold the dealership in 2000 to Jamie Pierre, Dealer Principal of Pierre Auto Group.
Becci Stupey worked in her father’s dealership for 17 years, carrying out numerous positions and then later acquired her own dealership, “Harbour Pointe Lincoln Mercury” in 2001. Rock Peterson, the dealer principal of Brien Ford in Everett, WA sold the dealership to Stupey. Now that Ford has closed the LM point, Peterson will once again be servicing LM customers in the Everett market. Peterson bought into Brien Motors in 1980 from Brien Medler, who owned the dealership since 1970. Peterson bought out Medler in 1986 and has been the dealer operator since. Peterson commented that “our state of the art service center will be a great place for Lincoln Mercury customers to continue experiencing the excellent service they have enjoyed at Harbour Pointe.” Peterson also commented that “Mitsubishi will be a great fit in our Everett location and will complement a business that we have been growing since 1986.” Bill Sommerville and Robert Lawhead of Mitsubishi facilitated the Mitsubishi franchise sale and relocation to the Peterson site. Jeffery Capeloto of Anderson Hunter Law Firm P.S. provided legal advisory services to Peterson relative to the Mitsubishi transaction.
Mark Johnson further stated that “consolidation efforts take a multitude of forms and require many pieces of a puzzle to be assembled. One of those pieces was Steve Klein at Klein Honda.” Johnson commented that “given Honda’s tremendous growth and requirements to expand, it was fortuitous that Klein Honda is directly across from Harbour Pointe and in need of additional space. It turned out to be a great fit and a great opportunity for everyone involved.” Steve Klein, dealer principal of Klein Honda commented that “given Honda’s unprecedented and continuous growth and the subsequent increase of Klein Honda’s customer base, it was a great opportunity and a wonderful fit for us to expand into the Lincoln Mercury facility.” Along with numerous acquisition and divestiture engagements, MD Johnson, Inc., on behalf of the firm’s clients, is currently involved in numerous consolidations and realignment engagements throughout the US relative to Ford, GM and Chrysler.
James Aiken, Esq. of the law firm of Aiken & Fine, PS was legal advisor to Becci Stupey and the Company. Randy Howard of Clothier & Head was Compliance and Tax counsel to Stupey and Company.
MD Johnson, Inc. is a mergers/acquisitions and financial advisory services firm specializing in Advisory Services to automobile dealers, dealership management companies and dealership lawyers and CPA’s. In addition to standard M and A services, the firm provides detailed Valuation, Consolidation, Succession, Strategic Planning, Fairness Opinion, Litigation Support and Transaction Management Services for its clients. The firm’s clients include public and private groups and individual owners located throughout the US. Previous press releases are archived at WWW.MDJOHNSONINC.COM
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