FOR IMMEDIATE RELEASE
Richmond, VA – (October 11, 2006) Transact Capital is pleased to announce the sale of Broadway Motor Co., Inc. of Broadway, VA to Logsdon Holdings, LLC. Founded in 1928, Broadway is the fourth oldest Ford dealership in Virginia. It is the primary dealer of New and Used Ford Motor Vehicles, parts, service and vehicle leasing to Rockingham County in the Shenandoah Valley region of Virginia.
According to Peyton Yancey, President of Broadway, “We were novices when we first met with Transact Capital and agreed to utilize their professional reputation and experience to market our dealership. During the two years of the process, it became even more apparent to us how much we needed their assistance. At all times, we trusted them, even when they said things that we were unsure of or didn’t want to hear.”
According to George Sydnor, Vice President and head of the Roanoke office of Transact Capital, “the automotive market has been difficult in the past year, but even so, Broadway has been one of the top dealerships in the Ford system. It is clear that the new owners have the experience, enthusiasm and sales skills to take Broadway to the next level.”
Logsdon Holdings is a new entity which was formed to acquire Broadway Motor Co and other dealerships. The principals of Logsdon have a long track record of selling new and used vehicles primarily through Toyota and Subaru dealerships. According to Peter Logdon, President of Logsdon Holdings, LLC, “we are excited to have this opportunity. Broadway offered the opportunity to obtain a Big 3 brand and a dealership known for its integrity over a long history. It was clear that Broadway stands behind its product, has a loyal customer following, and has always had the unwavering support of the Ford Motor Company.”
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.