GE Capital Solutions, Franchise Finance Provides Funding for Patrick and Lemco in Harley-Davidson Acquisition
East Hampton, Mass. dealership financed with $4.9 million
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Ed Lemco, long-time icon in the motorcycle industry, and his business partner Aaron Patrick have acquired an East Hampton, Mass., Harley-Davidson dealership with $4.9 million in financing from GE Capital Solutions, Franchise Finance.
“This deal allows us to take advantage of the next frontier in Harley-Davidson motorcycle sales,” says Lemco. “The funding from GE Capital Solutions, Franchise Finance is helping us achieve our goal on the retail side of this business. It’s advantageous to have a relationship with a lender that understands the powersports business so thoroughly.”
For Lemco, it’s a natural extension of his highly regarded expertise consulting for the motorcycle dealership industry.
“Any time you acquire a dealership, it is critical to have a knowledgeable lender involved in the negotiating process,” says Lemco. “GE Capital Solutions, Franchise Finance is a very professional lender, well-versed in the nuances of the motorcycle industry, and valued expertise throughout the entire process. We couldn’t be happier with the services they’ve provided.”
As the motorcycle industry — particularly Harley-Davidson — transposes into a more mature business model, the opportunities associated with the franchise are changing as well. An upcoming Harley-Davidson acquisition seminar slated for today and tomorrow in Denver and hosted by Lemco features various presenters on emerging opportunities in the business. GE Capital Solutions, Franchise Finance is represented by Cliff Kraushaar, vice president.
“I am looking forward to participating in the seminar,” says Kraushaar. “It’s exciting to be a part of something Ed is spearheading. His expertise in the industry is invaluable not only for those looking to sell or buy a franchise, but also for our company. We continually strive to update our knowledge on trends within the industry so that we can serve our customers at the highest level possible.”
Kraushaar’s seminar topic covers acquisition strategies, contracting and financing structures, funding options, and lending requirements.
Additional information including the complete agenda and details about registration for the conference can be access online at www.edlemco.com.
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