D & J Enterprises LLC, has acquired Ken & Joe’s Powersports of Santa Clarita, CA. In business for over 50 years, Ken & Joe’s Powersports boasts a strong brand lineup of Honda, Kawasaki, and KTM.
Selling owner Rodney Reim also owns Rainbow Sports just north of Oklahoma City, OK, representing Honda, Yamaha, and Kawasaki. Upon the decision to sell his California location after 11 years of successful operations, Reim called upon Mike Pate, Vice President of Powersports Listings Mergers & Acquisitions (PLMA), to represent him in the marketing effort and management of the buy-sell transaction.
The acting General Manager of Ken & Joe’s Powersports, David Denman expressed interest to step up and purchase the dealership in partnership with members of his family. Mike Pate managed the dynamic of the parties moving from a GM-Owner relationship to a Buyer-Seller relationship, and a deal was struck for the buy-out.
Mike Pate, along with PLMA’s CIO David Clay, was on site to manage final reconciliations and funding with the closing taking place on Feb. 21, 2022.
Powersports Listings Mergers & Acquisitions (PLMA), the professional powersports industry dealership brokerage centrally located in Dallas, Texas, managed the transaction as the Seller’s representative with team members:
Source : https://www.newswire.com/news/powersports-listings-mergers-acquisitions-announces-new-ownership-at-21626468