The owner of a highly regarded auto dealership serving the Highland, Illinois community transitions ownership of the store with help from CLA.
CLA’s investment banking team advises on the sale of Highland, Illinois dealership
Today, CLA (CliftonLarsonAllen LLP), one of the leading professional service firms in the United States, announced that it helped the Rehkemper family find a new owner for its Tri Ford dealership in Highland, Illinois.
Started in 1968 by David Rehkemper, Ed Moenster, and Clinton Rogier, Tri Ford became one of the largest businesses in Highland, Illinois by delivering great customer care and service. By 2006 David Rehkemper had become the sole proprietor of Tri Ford. Throughout the years, Mr. Rehkemper had received numerous awards from Ford, including the prestigious Ford Chairman's Award several times. With David’s passing in 2010, Monica Rehkemper stepped into the role of sole owner-operator, and along with her son Eric, continued to build a premier customer-focused dealership operation.
After operating the dealership for more than a decade without David at her side, Monica eventually decided it was time to move on to the next chapter of her life. She reached out to CLA to find the next steward for the legacy she and David built over the years. After speaking with numerous prospective buyers, including detailed discussions with several high-quality groups, Monica made the decision to transition ownership to a highly regarded dealership organization in the St. Louis area, Lou Fusz Automotive Network.
“It was a pleasure to work with Monica and help her achieve these retirement objectives,” said Ben Axelrod, head of the investment banking practice at CLA. “We knew it was important to Monica to not only find a strong operator who would continue to build on what Dave, Monica, and Eric have built, but also somebody who has a fantastic reputation in the community and the close-knit dealership ecosystem in the area.”
Axelrod continued, “With the Fusz organization, we found a highly experienced, professional team set on curating their expansion in the greater St. Louis area and the state of Illinois. Lou Fusz Automotive was a great fit for Monica and Eric’s objectives and we wish the team at Lou Fusz Ford of Highland success in the next chapter of this dealership.”
Monica Rehkemper, president of Tri Ford, Inc., said “The sale of our store brings many emotions as we have been rooted here for over 50 years, but I am thrilled with the outcome. I know the Fusz family will continue to provide members of the Tri Ford community with great care and service. I also know they look forward to affording our great team at Tri Ford opportunities for success and growth in the future.”
The CLA team included Terry Werner, David Wiggins, and Pat Fuist in the national dealership practice, and Ben Axelrod of CLA Wealth Advisors.
CLA investment banking professionals provide sophisticated corporate finance advisory and investment banking services to lower middle-market businesses and owners. The practice’s services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.
For more information on CLA and its investment banking practice, please visit CLAconnect.com/services/investment-banking.
Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors LLC, a federally registered investment advisor and member FINRA, SIPC.
About CLA
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With nearly 9,000 people, more than 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.