Gregg Young, owner and president of Gregg Young Automotive Group, bought four Iowa dealerships in three separate deals in September and December of last year.
Paul Kechnie, the Texas and Midwest partner for Performance Brokerage Services, a buy-sell firm in Irvine, Calif., facilitated two of the transactions.
The first was for Clemons Toyota-Ford-Lincoln of Ottumwa, now Gregg Young Toyota of Ottumwa-Gregg Young Ford-Lincoln Ottumwa, from Joe Clemons. The deal was finalized Sept. 30, according to Performance Brokerage Services. Ottumwa is southeast of Des Moines.
Joe Clemons decided to sell to focus on his used-car business, Capital City Motor Co., in Des Moines, according to Kechnie.
The second was Clemons Chevrolet in Marshalltown, Iowa, owned by Joe Clemons’ brother, Mike Clemons, Kechnie said. That deal was finalized Dec. 7, according to Kechnie, who said Clemons told him he wanted to retire.
That store was renamed Gregg Young Chevrolet Marshalltown. Marshalltown is northeast of Des Moines.
