According to Farid Ahmad, president of Dealer Solutions Canada, two Ontario dealerships changed hands recently.
Paul Cummings recently acquired BK Motors in Waterloo from the Kassik family. The store has been in business for more than 30 years. The dealership retails and services Volvo, Jaguar and Range Rover.
The second store to sell was Forbes Ford in Grimsby roughly 15 minutes from Hamilton.
Bob Clark, the one-time CEO of AutoCanada, took over Forbes from Stephen and Moore Smalley, who had owned it for over 35 years.
The facility had been renovated this year and is in a prime location with great visibility from the Queen Elizabeth Way, a major traffic artery connecting the GTA with the Niagara region.
Ahmad said Dealer Solutions Canada represented both sellers and buyers for these two transactions.
Financial information for the deals was not released.
“This year has been a very busy year for dealerships changing hands and Dealer Solutions Canada have been on the frontline for most of them,” Ahmed said, adding he has many opportunities on the market now.
Stores listed on his website included a used-vehicle operation doing business on land valued at $1.95 million in Ontario’s Golden Horseshoe region.