All Roads has acquired Kenworth of South Florida. The deal was announced Wednesday and facilitated by Performance Brokerage Services.
Kenworth of South Florida has been a family owned and operated dealership group since it was founded in 2006. The group has a reputation for top-notch service and is the region’s authorized dealer for top brands including Kenworth, Battle Motors/Crane Carrier Company, Lohr, Talbert, Warren, and TRP parts. Kenworth of South Florida is co-owned by Todd Hays, president, and Eric Johns, vice president. The group operates in five locations in Florida: Fort Lauderdale, two in Riviera Beach, Fort Pierce, and Naples.
“We were on the fence when it came to the decision to sell our dealer group or make a hard push to expand. We had heard about Performance Brokerage Services and some of the larger deals they had brokered in our industry. We reached out to Dan Argiro and Pat Albero to learn more about the process. We wanted to see if it made sense for us to use a broker instead of trying to sell the dealerships ourselves,” says Hays. “As we got to know Dan and Pat, we decided to partner with Performance Brokerage to help us find the best buyer for our group. We continued to run our dealerships as if they were not for sale and maintained the day-to-day operations. Performance Brokerage took care of the rest. From the calls to the emails, to vetting buyers, they did it all.
“They were instrumental in helping us establish the right value for our group and finding the right buyer. We were adamant about strict confidentiality, and they exceeded our expectations. Their advice was sound, and they conducted themselves in a professional and ethical manner at every step of the transaction. We highly recommend Dan and Pat of Performance Brokerage Services if you want to buy or sell a dealership.”
All Roads started in 1917 when George R. Norris first pitched his vision to Henry Ford on the floor of an assembly plant in Detroit, Mich. He eventually took his idea to Dundalk, Md., and began servicing and selling Fords. For over 100 years, the company has adapted and grown to become one of the largest privately held, multi-channel retail and commercial services enterprises in the Eastern United States. The company now employs more than 900 people and represents 20 brands through its three operating divisions: Equipment, Truck and Automotive. The company has flourished under the leadership of Andy Franklin, CEO, since he stepped into his role in 2003.
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 2022, the company consummated 92 transactions, marking a record-breaking year. This transaction was exclusively facilitated by Performance Brokerage Services Equipment & Commercial Truck Divisions, managed by Dan Argiro, senior partner, and Patrick Albero, senior partner.
“The perfect scenario for a transaction is when a seller is matched with an ideal buyer. Kenworth of South Florida made a very sound decision choosing All Roads to take over their dealership group,” says Argiro. “It was a privilege to help Todd Hays and Eric Johns connect with Andy Franklin and his team. All Roads runs a first-class operation and they have been extremely professional throughout the process. The combination of these two companies is going to create big things in the future!”
Albero adds, “I am honored to have had the opportunity to represent Todd and Eric in the successful sale of Kenworth of South Florida. Throughout the entire process, Dan and I worked diligently to identify the perfect buyer, one who not only recognized the value of the dealership but also shared the sellers’ passion and vision. It was inspiring to work with Todd and Eric, who were so committed to preserving the legacy of their business. I am incredibly proud of our team's efforts in this transaction, and I am grateful for the opportunity to have played a role in helping Todd and Eric achieve their goals.”
All Roads CEO Andy Franklin adds, “Our experience with Performance Brokerage Services on our acquisition of Kenworth of South Florida was excellent. Dan Argiro and Pat Albero provided an outstanding level of service and expertise, which we have come to expect from their talented team. Their attention to detail and commitment to the needs of the transaction were evident throughout the process. As a growing organization, we understand the importance of working with best-in-class firms that can assist us in achieving our goals.
“Performance Brokerage Services is undoubtedly this type of provider, and we were impressed by the quality of their work and the value they brought to the transaction. We highly recommend Performance Brokerage Services to any organization seeking a firm that can provide exceptional service and expertise. Dan and Pat's professionalism, industry knowledge, and dedication to their clients make them valuable assets to any growth-focused business.”
The dealerships will remain at their current locations at 2909 South Andrews Avenue in Fort Lauderdale, 3760 Interstate Park Road West in Riviera Beach, 5690 Environment Drive in Fort Pierce and 16120 Old 41 Road in Naples, and a TRP Store at 3777 Interstate Park Road West in Riviera Beach.