The Dimmitt Automotive Group Acquires Cycle Springs Powersports
TAMPA, Fla., June 20, 2023 /PRNewswire/ — Viking Mergers & Acquisitions announces the acquisition of the world’s largest Yamaha Dealer, Cycle Springs Powersports in Clearwater, Florida, by The Dimmitt Automotive Group.
Cycle Springs Powersports (https://cyclespringsonline.com/) has delivered industry-leading and distinctive products to the Tampa Bay community for over 30 years. Cycle Springs Powersports is an authorized dealer for most of the marine and powersport top industry brands which include Yamaha, Scarab, Kawasaki, Suzuki, Polaris, Slingshot, Sea-Doo, Segway and Kymco.
The Dimmitt Automotive Group (https://www.dimmitt.com) serving the Florida Gulf Coast since 1924, acquired Cycle Springs Powersports as the group’s newest location in Clearwater. The group brings its core values of character, cooperation, and commitment, along with a dedication to service, excellence, and innovation, to all its locations, making this a perfect match for continuing the Cycle Springs Powersports legacy.
The Dimmitt Automotive Group’s Chief Executive Officer, Scott Larguier, and Co-President, Peter Dimmitt shared the following; “The team at Viking Mergers & Acquisitions were professional and extremely hardworking throughout this transaction. Tripp, Christian, Larry and their entire team were competent, helpful, and easy to work with. We would highly recommend Viking Mergers and Acquisitions.”
Cycle Springs Powersports’ President, Marty Skapik and CEO, Noel Hughes said “What a great team Viking has! Tripp, Christian, Max and Jacob are the future of America, and they give us hope in our Nation’s continued success. Their team stuck to their word and did what they said they were going to do. We were very pleased with the transaction and feel that Viking found the best buyer for our business.”
A statement from Viking Mergers & Acquisitions Florida Division, President, Larry Lawson II, “It is a compliment to Viking to have been selected to lead and structure this successful transaction between Cycle Spring Powersports and The Dimmitt Automotive Group. Our team was intricate to the introduction between the two parties, assisting them through the offer stage, coordinating due diligence, finalizing OEM approvals and the transaction. Having prior experience with both parties and their legal counsel, Robert Bass and Mike McKenzie, allowed myself and the Viking team to navigate this transaction appropriately for all parties. Seeing Cycle Springs Powersports and Dimmitt Automotive Group achieve their end goal of completing a successful transaction to continue their legacy has truly been rewarding. Congratulations to the members of the Viking team on another successful closing in the marine, powersport and automotive industries and thank you to my partners Larry (Tripp) Lawson III and Christian Aunspaugh for your leadership with bringing this transaction across the finish line.”
Larry Lawson II, Larry (Tripp) Lawson III, and Christian Aunspaugh of Viking Mergers & Acquisitions, Florida Division, assisted as the lead advisors and Jacob Middleton and Max Roix assisted as associate advisors on the transaction.
About Viking Mergers & Acquisitions
Viking provides exit strategies and M&A services to middle-market business owners. In business since 1996, 50% of Viking’s advisors are former business owners. Viking has an 85% close rate, representing over 800 successful transactions and is the leading advisory firm of its type in the Southeast United States. Viking operates thirteen (13) offices, including two headquarters located in Tampa, FL and Charlotte, NC.
SOURCE Viking Mergers & Acquisitions
