Pinnacle Mergers & Acquisitions, a nationwide auto dealership brokerage firm, has facilitated more successful transactions with the sale of four dealerships in Kingsport, Tenn. Pinnacle represented the estates of John King and Sam Anderson in the sale of Fairway Ford, Fairway Volkswagen, Courtesy Subaru, and Courtesy Chevrolet, Buick GMC. Mr. King and Mr. Anderson were longtime partners with Bill Gatton. All three partners passed away within a five-month period in 2022.
“We are all truly unaware of our future in this world, and we were dealt with the ‘perfect storm’ last year with the passing of our father and his partners. When the decision was made to sell each dealership, we could not have been more blessed with the introduction of Mike Sims at Pinnacle and Brian Nolen of Nolen PLLC to help us through this process,” said seller, Sarah King Nelms.
“This team went above and beyond to ensure all options and avenues were explored and all concerns were addressed. They handled many delicate situations with the utmost care and respect for all parties. Mike was able to provide buyers with similar values to protect the legacy and traditions of the stores. Mike and Brian are true class acts,” Nelms said.
The Courtesy Chevy Buick GMC dealership, now Champion Chevy Buick GMC, was purchased by Andy Dietrich and Tim Copenhaver. Dietrich is Mr. Anderson’s grandson; he and Copenhaver used to work at the dealership.
“Mike was terrific to work with from the buyer side of the transaction. He was always available to answer my questions from start to finish of the buying process. Mike was instrumental in making the transaction smooth between myself and the sellers. I highly recommend Mike and Pinnacle if you buy or sell your dealership,” said Tim Copenhaver, president of Champion Cadillac, Chevrolet, Buick and GMC.
Now called Wallace Ford and Wallace Volkswagen of Kingsport, the former Fairway Ford and Fairway Volkswagen were purchased by Wallace Automotive, owned by the Baker family.
“Wallace Automotive is excited about our acquisition of Ford and VW in Kingsport. Opportunities to grow, close to home, don’t come often. Mike and the sellers, Sarah Nelms and her brother John King, were great to work with through the entire process and made the transition as easy as possible for all parties,” said TC Baker of Wallace Automotive.
Through the process, the parties worked with Subaru to close the point in Kingsport.
With more than 60 years of combined experience on both the buy-side and sell-side of transactions, Pinnacle conducts business with the same commitment to integrity and customer success that has guided them for the last three decades. Continuing to utilize their unparalleled industry knowledge to serve as intermediaries for their clients, Pinnacle is always looking forward to aiding their clients to achieve their goals as buyers or sellers.
To learn more about the services offered by Pinnacle Mergers & Acquisitions or to receive a confidential consultation, visit www.pinnaclemergers.com.
