Oregon Dealerships Have New Owner
Power Auto Group sold its Chevrolet/GMC and Ford locations in Newport to Bay Area Auto Group but will continue to operate five other locations in the Salem area.
Power Chevrolet/GMC and Power Ford join Bay Area Auto Group's portfolio alongside currently owned Bay Area CDJR.
Pinnacle Mergers & Acquisitions
Power Auto Group, based in the Salem, Ore., area, sold its two Newport locations to Bay Area Auto Group. The Chevrolet/GMC and Ford rooftops will operate as part of the Bay Area Auto Group portfolio, which includes Bay Area Chrysler Dodge Jeep Ram in Coos Bay, Ore.
“We made the difficult decision to sell these stores because of the location and distance from the main footprint of our other stores in the Salem area,” said Power Auto CEO Jeff Koehnke.
Newport sits on the Oregon coast about 80 miles from Salem. Power Auto will continue to own and operate five locations in the Salem area, as well as a motorsports rooftop and a recreational vehicle store.
Bay Area Auto Group is led by Hardeep Singh, Jay Dhillon and Doug Hildreth.
“Hardeep and his team were an ideal fit who I believe, and hope, will do very well with the stores," Koehnke said. "I enjoyed working with Mike Sims and the team at Pinnacle as they were there for us every step of the way and helped navigate a very smooth and successful transaction.”
Pinnacle Mergers & Acquisitions served as the adviser to the Koehnke family. President Mike Sims and Executive Vice President Wes Hamilton led the transaction.
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