Jason Stopnitzky, co-founder of buy-sell firm Performance Brokerage Services in Irvine, Calif., facilitated each transactions for the growing auto retailer, which began in 2019 in Ottawa, Canada.
Stopnitzky said he thinks Ride Automotive will continue to grow, crediting their customer-centric approach and industry knowledge. He said the closings he worked with them on went easily.
“In each situations, the sellers walked away saying, ‘The deal went exactly as I predicted and suspected, and these guys did exactly what they said they’d do,'” Stopnitzky said.
In Canada, the group owns Orleans Kia and Kia 417 in Gloucester, each in Ontario.
Robert Bayer and Mac McKinley sold the Stellantis dealership in Simi Valley, the one store the pair owned together, Stopnitzky said.
He said McKinley doesn’t own every other stores, but Bayer owns Covina Valley Kia in Covina, Calif.
The Simi Valley dealership, which is a component of the greater Los Angeles area, will keep its name, Sehdev said. Marin Mazda is a component of the greater San Francisco area. That dealership name stays, too, Sehdev said.
Michael Glasser sold the Mazda store, the just one he owned, and plans to enjoy a phase of semi-retirement, Stopnitzky said.
As for Ride’s Automotive’s future, Sehdev said they’re concentrating on integrating their latest acquisitions for now but eventually will explore more growth opportunities in Canada and the U.S.
“We’ve not proven ourselves here yet,” Sehdev said of the U.S. “In the meanwhile, our complete focus is simply to prove ourselves inside this market and within the States. We’ll be keeping our Canadian stores and searching to grow, when the time is correct, on each side.”