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Teddy Morse said riding motorcycles "makes you feel like the star of your own movie."
An intense, genuine passion for motorcycles — all kinds, but especially Harley-Davidson — helped fuel the CEO of Ed Morse Automotive Group's decision to purchase his first powersports stores, three selling only Harley and one powersports, in three Texas cities in 2022.
"Originally, I was seeking out specifically Harley because I've been riding Harleys for 29 years," Morse said. "And I love the brand."
Powersports, by definition, include any motorized vehicles that riders guide with handlebars, including motorcycles, all-terrain vehicles, snowmobiles and personal watercraft, though industry leaders think of Harley-Davidson in its own class.
George Chaconas, a senior partner with Performance Brokerage Services, of Irvine, Calif., leads the buy-sell firm's Southeast automotive and Harley-Davidson and powersports divisions. He said he has facilitated more than 100 powersports transactions in about 15 years, including deals with Morse and public auto retailer Sonic Automotive Inc. Most involved Harley, though transactions the past few years have begun to include other powersport brand stores, too, including Sun Enterprises and Barney's, Chaconas said.
Sonic announced its entry into the powersports segment in February 2023, acquiring 13 locations that year and in 2022. Publicly traded Lithia Motors Inc. bought its first Harley-Davidson store in 2021 in Canada, and added six stores selling RVs in 2022.
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