FORT COLLINS — The Elway Automotive Group has purchased Interstate Honda, a powersports and power equipment dealership located on Interstate 25 in Fort Collins. It’s the second powersports dealership added to the Elway group, which includes six automobile dealerships and now two powersports dealerships.
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Elway created Elway Power Sports LLC in March of this year, according to a filing with the Secretary of State.
Interstate Honda had been owned for 10 years by Fred MacDonald and Shelley Barber. Powersports Listings Mergers & Acquisitions, a powersports industry dealership brokerage located in Dallas, managed the transaction as the seller’s representative.
The transaction closed on Monday, and the Elway group company PS CO2 LLC took over operations the same day. Terms of the deal were not disclosed.
“PLMA’s ability to fully support the powersports specific buy-sell process is a big reason we got two deals done in just a few months,” Michael Maledon, executive vice president of the Elway Dealer Group, said in a written statement.