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CVO Social => In The News => Topic started by: Threephase on June 07, 2022, 03:33:28 PM
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https://www.yahoo.com/finance/m/c6cc6c59-ff22-3e23-9371-c1ee584108a8/relaxed-ownership.html
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Need a subscription to read the article. Got the cliff notes version by chance?
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Need a subscription to read the article. Got the cliff notes version by chance?
Try this link (https://www.bizjournals.com/milwaukee/news/2022/06/06/largest-harley-davidson-dealership-texas-sold.html?utm_source=sy&utm_medium=nsyp&utm_campaign=yh).
:pumpkin:
Ride Safe,
Fired00d
:fireman:
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I don't see this as a good thing.
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Try this link (https://www.bizjournals.com/milwaukee/news/2022/06/06/largest-harley-davidson-dealership-texas-sold.html?utm_source=sy&utm_medium=nsyp&utm_campaign=yh).
:pumpkin:
Ride Safe,
Fired00d
:fireman:
Pretty much the same thing. Thanks for trying though.(https://uploads.tapatalk-cdn.com/20220608/2e53785aaa4d39aac61f7622ac01bcf6.jpg)
Sent from my SM-N981U using Tapatalk
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I don't see this as a good thing.
seems like desperation! :nixweiss:
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Here ya go:
Relaxed ownership restrictions allow investors to buy Texas' largest Harley-Davidson dealership
Mon, June 6, 2022, 3:22 PM
The owner of the largest Harley-Davidson dealership in Texas sold that location and five others to Michigan-based holding company Navigant Oak LLC in what the parties said represents one of the first Harley-Davidson dealership acquisitions by a financial buyer.
Adam Smith, president and owner of Calculated Risk Motorcycle Group, will retain 20% ownership of all dealerships as well as a seat on the board of directors, according to a press release. The transaction price wasn’t disclosed.
In 2017, Smith opened Texas’ largest Harley-Davidson (NYSE: HOG) dealership — Texas Harley-Davidson in the Dallas-Fort Worth suburb of Bedford. The dealership measures 72,000 square feet and has two showrooms.
Calculated Risk also sold to Navigant Oak the Texas dealerships Texoma Harley-Davidson in Sherman, Lumberjack Harley-Davidson in Nacogdoches, Roughneck Harley-Davidson in Longview, Harley-Davidson of Waco and Texarkana Harley-Davidson, according to the press release. The transaction further includes Lucky Penny Cycles in Bedford and Houston, which specialize in used motorcycles.
Smith served as the 2018 Harley-Davidson Dealer Advisory Council president, representing the approximately 675 Harley-Davidson dealers nationwide. His dealerships have also earned multiple coveted Bar & Shield awards from Harley-Davidson.
Navigant Oak and Calculated Risk said Milwaukee-based Harley-Davidson typically prevented family offices and private equity investors from acquiring dealership franchises. Recently Harley-Davidson has relaxed ownership restrictions to facilitate growth, Navigant Oak and Calculated Risk said.
A Harley-Davidson spokesperson didn’t immediately respond to a Milwaukee Business Journal request for comment.
Navigant Oak, of Northville, Michigan, near Detroit, is a private holding company for a Michigan family’s portfolio of businesses and investments. Navigant Oak currently has holdings in industries including aerospace, HVAC, real estate, transportation, retail, industrial equipment, power generation, business services and automotive supply.
Navigant Oak said its team members own Cummins Bridgeway LLC, an exclusive distributor for Cummins Inc. Navigant Oak’s leadership will include managing partners Ethan Allen and Aaron Cozart under the guidance of the company’s principal, Greg Boll, according to the press release.
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Wow. There goes the neighborhood. Doesn't sound like Navigant Oak has much of a motorcycle soul.
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Appreciate it Mike.
Interesting that HD has relaxed it's restrictions to "promote growth" while at the same time closing many smaller dealers.
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