Cycle Specialties has been a Cincinnati landmark since 1984, back when the Dealer Expo used to bring the motorcycle world to Jeff Zang and Dave Freudemann’s turf for the annual tradeshow. Ironically it was at the 2019 AIMExpo that the partners met with Juan Pardo of Performance Brokerage Services to discuss a succession plan for when they retired.
“Dave and I started discussing a possible sale of the dealerships as retirement was on the horizon,” recollects Zang. “We met Juan at the 2019 AIMExpo where he explained the buy-sell process, and what we would need to do to prepare the dealerships for a possible sale. In early 2022, we hired Performance Brokerage to help sell both dealerships… We knew Juan would help find a qualified buyer who would not only take care of our staff, but also take care of our customers that have been with us for so many years."
That buyer was Mitch Potter, a 30-year veteran in the coal industry-turned powersports professional. Potter picked up his first powersports dealership in 2004 — Lexington Motorsports in Kentucky. Since then, his dealer group has expanded to include 7 locations in Kentucky and Ohio, with a team of more than 150 employees under the United Motorsports umbrella.
“As United Motorsports continues to grow, we felt these 2 dealerships were a great fit for our brand and growth strategy in Ohio,” says Ryan Schwartz, General Counsel for United Motorsports. “Juan understood the buy-sell process and helped keep the deal on track throughout the transaction.”
“I am very proud of my Partner, Juan Pardo, for facilitating this transaction,” says George Chaconas, Senior Partner and head of the National Harley-Davidson and Powersports Division for Performance Brokerage Services. “We are very grateful to have exclusively represented our clients, Jeff and Dave, in another successful transaction. I wish all parties great success and prosperity in their future endeavors!”
Over the past 5 years, Performance Brokerage Services has advised on the sale of more than 300 dealerships, making it the highest volume dealership brokerage firm.
The dealerships will remain at their current locations at 6175 Harrison Avenue in Cincinnati, and 7220 Dixie Highway in Fair.
