National Business Brokers is pleased to announce the sale of Livonia Chrysler-Jeep in Livonia, Michigan, from Colleen McDonald and LCJ, Inc. to Jay Feldman and the Feldman Automotive Group.
Livonia Chrysler-Jeep was established in 1979 in Livonia, Michigan, and was founded and operated by Colleen McDonald’s father, Walt Norris. In 2006 the dealership was closed due to network consolidation triggered by the Chrysler bankruptcy. Colleen McDonald successfully fought to re-open the store in 2016.
Jay Feldman, President and CEO of Feldman Automotive, opened his first Chevy store in 1996 and has grown his portfolio to 20 locations with 13 brands across Michigan and Ohio. In 2018, Jay entered into a partnership with actor Mark Wahlberg, and Wahlberg portfolio has grown to include three Chevrolet stores, a Buick-GMC Hummer dealership, and several Airstream/RV locations in Ohio. Feldman Automotive became Michigan's #1 Chevrolet dealer in 2013.
The Feldman and Wahlberg groups are deeply engaged in the communities which they serve, actively and financially participating with a long list of major charities across Michigan and Ohio.
“Our mission at Feldman Automotive is to provide a first-class buying and customer service experience at all our dealerships, and our team is excited to provide more brands to Livonia and the surrounding communities,” Jay Feldman, chairman and CEO of Feldman Automotive Group, said in a news release.
The dealership will be named Feldman Chrysler-Jeep of Livonia and will remain at its current location at 30777 Plymouth Rd., Livonia, Michigan.
Scott Mackie, broker commented, “It was a pleasure working with Colleen, Jay and their respective teams of expert advisors. Both sides exhibited flexibility and creativity, which were instrumental in successfully completing the transaction. The strength and resources of the Feldman Group will allow it to build upon the legacy built by Colleen and her family through many years of service to the Detroit market.”
About National Business Brokers
National Business Brokers has been helping new car dealers buy and sell their stores for 45 years. With five regional offices across the country, NBB has national coverage and local familiarity. NBB has successfully closed over 900 transactions in the auto industry, more than any other M&A firm in the industry.
With offices in California, Texas, Michigan, New Jersey and Florida, NBB represents sellers throughout the United States, and buyers from around the world. Clients rely on NBB for confidentiality, expert counsel, and a deep network of relationships that enables us to connect the right buyers and sellers for the best opportunities.
NBB is headquartered in Irvine, CA. For more information visit www.nationalbusinessbrokers.com or call 800-576-9875.
