BEND, Ore., March 12, 2014 /PRNewswire/ -- MD Johnson, Inc. announces the completion of the sale of Carrera Motors of Bend Oregon to Kendall Automotive Group. Carrera has been owned and operated by Tom Anderson since 1982 when he acquired Mid Oregon Motors with Peugeot and VW franchises. Anderson was then appointed the Porsche and Audi dealer and opened shortly thereafter. Peugeot was resigned shortly after the purchase. BMW was then added in 1986. Anderson continued to grow the Carrera campus through the purchase of adjoining properties and now occupies approximately 4 acres in Bend. Anderson also added the Carrera Club to enhance the customer experience in a one of kind facility as a gathering place for customers and enthusiasts alike.
The purchaser, Kendall Auto Group, owns dealerships in the Northwest including Alaska, Oregon, Montana and Idaho. Kendall administers operations from Eugene Oregon and is headquartered in Boise Idaho. Mark Johnson, President of MD Johnson Inc (www.mdjohnsoninc.com) commented that "Tom was very particular about choosing a successor for his business and mostly his employees. We all came to believe that Kendall shared Tom's values about customers, employees and the community". No sales price was disclosed.
Tom Anderson, owner and dealer principal said that "I felt the Kendall people really got what was important to my employees and my customers and ultimately to me". Johnson commented that "it is important for owners of closely held businesses and especially Tom, that his people be valued and respected by new ownership. We all feel like that has been accomplished with Kendall. General Manager Dan Horton remained with the new ownership and will continue to operate the dealership on behalf of Kendall as the GM".
Cliff Spencer of Lane Powell PC provided legal services to Anderson and Carrera. Morris Galen of Tonkon Torp LLP provided legal services to Kendall Auto Group. Anderson further commented that "Mark Johnson and Mark Topping have spent several years advising us on business succession. I couldn't be happier with the outcome".
MD Johnson, Inc. is the premier US provider of automotive dealership buy sell, financial advisory and automotive succession planning services. The firm advises dealers, both public and private on the purchase, sale, analysis, succession and valuation of automobile dealerships, dealership platforms as well as dealership real estate through their wholly owned real estate entity, MDJ Realty Inc. The firm represents clients nationwide supporting their buy sell activities and has advised on more than 2 Billion, 500 Million in transactions.
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SOURCE MD Johnson, Inc.