Nacarato Truck Centers has acquired Volvo Trucks of Palm Beach, Fla. The acquisition was advised by Performance Brokerage Services, North America’s highest volume dealership brokerage firm.
Volvo Trucks of Palm Beach has been owned and operated by the DeSanti family for more than 62 years. Established as a full-line GMC dealership in 1960, the business was awarded the Volvo Truck franchise in 1988, followed by AutoCar in 1998. The dealership moved to a newly built facility in 2002 where it resides today.
"After decades of operating as a family business, we started to look towards retirement, and wanted a new family to take over and grow the business. We chose Mike Nacarato and the Nacarato Truck Centers team because we felt like they were going to be the best fit for our employees and customers," says Leonard DeSanti, president, Volvo Trucks of Palm Beach. "My brothers and I met with Mike personally just as the process began.
"Mike and his team have built a great company, and we know our community will benefit from Nacarato Truck Centers as its newest business. Lloyd Baldridge, CFO of Nacarato Truck Centers, has been instrumental in working with our team to ensure a smooth transition. There are many good days ahead for the customers in our area."
Nacarato President Mike Nacarato adds, "The addition of the Palm Beach dealership is a great fit for our company. We look forward to working with the excellent employees at the dealership and know that each of them will play a big part in its continued success. We want to support and enhance our relationships with existing customers and have every intention of introducing ourselves to as many new potential customers as possible in the days ahead. The Nacarato team looks forward to making a positive impact in the Palm Beach community for many years to come."
The dealers also spoke highly of Performance Brokerage Services.
"From the first time we met Dan Argiro, Pat Albero, and Alex Argiro from Performance Brokerage Services, we knew we were in good hands," says DeSanti. "In addition to finding the right buyer, confidentiality was our top concern. Dan and the team worked tirelessly to advise our family on the best steps to take and when to take them. We considered selling the dealership ourselves, but without Performance Brokerage we would not have been able to maximize the value of our dealership, find the right buyer, and run our business, all while protecting confidentiality. We feel like we got the best deal possible for our family business."
"We would like to thank Dan Argiro and his team at Performance Brokerage Services for helping us with this transaction," adds Nacarato.
Over the last five years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2021, the company consummated 72 transactions, marking a record-breaking year.
Argiro notes, “It was a pleasure for our team to help the DeSanti family with this transaction. We met Leonard, Robin, and Ted DeSanti late last year to discuss the process of selling their dealership. We worked diligently with them to maximize the value of their dealership and allow them to choose the best buyer to continue the legacy of their family business. Nacarato Truck Centers was the chosen buyer, and we know they will do a great job in the future. The satisfaction we get from this transaction comes from the fact that we were able to help the DeSanti family with their personal and business goals, while protecting the future of their employees with an honorable buyer who will continue their legacy.”
The dealership will remain at its current location at 360 South Military Trail in West Palm Beach, Fla.