MD Johnson, Inc. Acts as Exclusive Transaction Advisor to Lithia Motors, Inc. in Sale of Issaquah Chevrolet
ISSAQUAH, Wash., Aug. 6 /EMWNews/ -- MD Johnson, Inc. announces that Lithia Motors, Inc., (LAD) has completed the sale of Issaquah Chevrolet to David Broadus, Erik Paulson and Tom Paulson. The dealership has been renamed Michael's Chevrolet of Issaquah. Mark Johnson, President of MD Johnson, Inc. stated, "We are excited to be working with a public dealership group of Lithia's caliber." Johnson also said, "We look forward to future opportunities where we will be assisting Lithia plus our other public and private clients as they execute their organizational strategies." The purchaser's of Issaquah Chevrolet have a long history in the Seattle business community and are well known and highly regarded in the automobile business. In 1974, Bruce Broadus became the Toyota dealer in the Bellevue market and continues to be the dealer principal today. Brodus' son David, as well as being the owner of Magic Toyota in Lynnwood Washington, is also an owner in the new Chevrolet enterprise. Erik and Tom Paulson, David's partners in the Chevrolet dealership will continue in their day-to-day roles at the Toyota dealership as well as their new roles as President and General Sales Manager, respectively, of the Chevrolet dealership. David Broadus commented, "This acquisition allows our staff ownership opportunities in our organization, which is the best reward we can give those people that have been with us and made us successful." MD Johnson, Inc. has a successful history of assisting public companies and private cap dealers in the disposition of under performing and non performing dealership assets. In addition to the transactions MD Johnson, Inc. is involved in with Lithia, the company represented Asbury Automotive Group, Inc in the disposition of Nalley Chevrolet in Atlanta and is currently working with other public companies in the disposition of under performing assets. Johnson commented, "Our processes are unique and we have a clear understanding of our clients goals and stop at nothing to execute them. Our closing ratio on executed buy sells is 100%. We believe that our mission of 'innovating client value' has been the reason we have found ourselves fortunate enough to be involved in more than a billion dollars of dealership transaction and valuation advisory work. I think it is safe to say that we have built significant institutional knowledge concerning the disposition of auto dealership assets and specifically troubled or non performing assets. We feel fortunate to have the opportunity to work with public dealership groups. They have given us the opportunity to become better at what we do." Lithia sells 28 brands of new vehicles at more than 100 dealerships in the US. For additional press releases on Lithia, go to http://www.lithia.com. Investor relations department contact (541) 618 5770. 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 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 http://www.MDJOHNSONINC.COM.
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