Nancy Phillips Associates - Blog #Industry news

Nancy Phillips Associates Announces Sale of the Mack, Volvo, Hino and Isuzu of O’Connor Trucks

Wed, 24 Jun 2026 14:02:55 -0400

Nancy Phillips Associates is pleased to announce the sale of the Mack, Volvo, Hino and Isuzu of O’Connor Trucks located in Portland, Maine to Ballard Truck Center, headquartered in Worcester, MA. Ballard Truck Center operates eight locations covering the states of Massachusetts, Rhode Island, Maine and New Hampshire.

The company was started in Milbury Massachusetts over 100 years ago when Louis Ballard, a locksmith and a carriage maker, opened a small repair shop.

His legacy has continued, spanning five generations of Ballards. Today the company has evolved into a full service commercial truck center and has been awarded the highest level of recognition as Dealer of the Year in the Northeast and North America nearly every year. At the helm of the company is John Picking, President.

With an eye towards the consolidation movement taking place in the commercial truck industry, Randy Hutchins, owner of O’Connor Trucks, implemented a forward thinking strategy to divest of his truck franchises early on. To that end, he has now sold all of his commercial truck franchises. Hutchins remains the owner of his top selling General Motors dealership in Maine and is focusing on further expansion of that business.

The commercial truck industry is undergoing rapid consolidation throughout the United States similar to what is taking place in the collision and tire center industries. Manufacturers are aggressively working towards reduction in dealer count in order to bolster their biggest investors which in turn improves their own financial stability and operational health.

Nancy Phillips Associates, representing the Seller, is the advisor responsible for this transaction.

Nancy Phillips Associates Announces Sale of Grieco Chrysler Dodge Jeep Ram

Fri, 19 Jun 2026 10:49:15 -0400

Nancy Phillips Associates is pleased to announce the sale of Grieco Chrysler Dodge Jeep Ram of Methuen to John Crowley, owner of Best Ford in Nashua, New Hampshire.

This transaction represents a strategic realignment for Rhode Island-based Grieco Auto Group as it continues to refine its dealership footprint and pursue growth across its portfolio. “When we decided to sell this dealership, our goal was to focus our efforts on markets that aligned more closely with our core operations and long-term strategy,” said George Smith of Grieco Auto Group. “Because the store was outside of our primary market area, it made sense to concentrate our resources where we have the greatest strength and opportunity.”

For Crowley, the acquisition marks an important milestone. Grieco Chrysler Dodge Jeep Ram of Methuen is his second dealership acquisition, expanding his presence beyond New Hampshire and establishing a foothold in Massachusetts. With a strong track record at Best Ford, Crowley brings an owner-operator approach and a commitment to customer service that will support the dealership's future growth.

Carrie Forbes at Nancy Phillips Associates was honored to represent the seller and assist both parties in completing a successful transaction.

Nancy Phillips Associates Announces Sale of Western Star Franchise of O’Connor Trucks

Tue, 02 Jun 2026 14:36:51 -0400

Nancy Phillips Associates is pleased to announce the sale of the Western Star franchise of O’Connor Trucks in Augusta, Maine to Freightliner of Maine, Inc., owned by the Cook Family Group of the United States and Canada.

Cook Family Group operates heavy duty truck dealerships with multiple locations across the state of Maine and is also Atlantic Canada’s largest truck and trailer dealership retailer.

With an eye towards the consolidation movement taking place in the commercial truck industry, Randy Hutchins, owner of O’Connor Trucks, implemented a forward thinking strategy to divest of his truck franchises early on. To that end, he has now sold not only Western Star but also his other four truck franchises. Hutchins remains the owner of the top selling General Motors dealership in Maine and is focusing on further expansion of that business.

The commercial truck industry is undergoing rapid consolidation throughout the United States similar to what is taking place in the tire center and collision industries. Manufacturers are aggressively working toward reduction in dealer count in order to bolster their biggest investors which in turn improves their own financial stability and operational health.

Nancy Phillips Associates, representing the Seller, is the advisor responsible for this transaction.

The Phillips Report - 2025 Dealership Values in Greater New England

Thu, 12 Feb 2026 11:10:51 -0500

Nancy Phillips Associates is pleased to present the 2025 Phillips Report. This report is the only publication that specifically speaks to auto dealership transaction values, trends, and trajectories in the New England and Greater New York market areas.

What’s inside the Report?

Greater New England dealership transaction values
Market trends and year-over-year comparisons
Valuation multiples and performance benchmarks
Buyer and seller activity insights
Market trajectory and forward-looking outlook
Economic and industry factors impacting dealership values
Strategic considerations for owners considering a sale or acquisition

Nancy Phillips Associates has been exclusively representing new franchised dealers throughout New England and New York for over three decades. Our clients give us their highest recommendations for professionalism, the level of service we provide, our strait forward approach and our success rate. We have, during all of our time in business, sold over 95% of the dealerships we have represented.

When you are thinking about selling, there are many compelling reasons to have us on your side. If you are interested in having a discussion, please contact us for a completely confidential conversation and guidance on how to prepare yourself for the next steps if you decide to go forward.

If you are further along in the process, call us to discuss our Dealership Evaluation and Targeted Buyer Services and remember that every successful transaction begins with the accurate determination of your dealership’s potential value.

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Dealer Spotlight: Hear What Brian Kelly Has to Say

Thu, 13 Nov 2025 10:01:47 -0500

Guidance, Communication & Trust: A Client’s Take

At Nancy Phillips Associates, it’s a privilege to be part of defining moments for our clients and their families. We were honored to represent Brian Kelly in the sale of Kelly Ford in Beverly, Massachusetts, to Matt McGovern of McGovern Auto Group — a decision rooted in his commitment to his customers and community. We are grateful for the trust Brian placed in us and proud to have helped ensure a smooth transition for a dealership with more than 60 years of history and heart behind it.

Kelly Ford in Beverly, Massachusetts sold to Matt McGovern of McGovern Auto Group

Mon, 20 Oct 2025 13:59:26 -0400

Nancy Phillips Associates is pleased to announce the sale of Kelly Ford located in Beverly, Massachusetts, to Matt McGovern of McGovern Auto Group.

Kelly Automotive Group has been in business for 60 years and has grown to represent six brands throughout the vibrant Danvers and Lynn market areas. Under the leadership of Brian Kelly, the group has become one of the highest-ranked and most respected dealership organizations in New England and is recognized not only for its strong sales performance but also as a Best Place to Work by both Automotive News and The Boston Globe.

Kelly Ford, acquired by the group in 2015, has been a valued part of its portfolio. Brian Kelly’s decision to sell was guided by his commitment to ensuring the best possible service to his market area and customers. The new owner, Matt McGovern, now represents the Ford brand in four dealerships across Eastern Massachusetts.

Join us at the 2025 New England Market Update Luncheon

Wed, 15 Oct 2025 12:58:35 -0400

Hear directly from Carrie Forbes, Vice President of Dealership Sales, as she shares valuable insights into the evolving New England dealership market — including key trends from 2025 and predictions for what’s ahead in 2026.

RSVP TO THE EVENT HERE

MAG Chevrolet in Greenwich, New York sold to Rob McGee, owner of the McGee Automotive Family

Tue, 14 Oct 2025 09:53:48 -0400

Nancy Phillips Associates is pleased to announce the sale of MAG Chevrolet in Greenwich, New York to Rob McGee, owner of the McGee Automotive Family.

This marks the fifth transaction completed on behalf of Rob McGee by Nancy Phillips and her team. The newly named McGee Chevrolet of Greenwich becomes the group’s 14th location, with dealerships situated across Massachusetts, New Hampshire, and Vermont. This represents the company’s first acquisition in New York, expanding its presence into the Capital Region.

MAG Chevrolet, previously owned by Chris Mackey of Mackey Auto Group, has recently sold its New York dealership holdings to focus on other business ventures.
Nancy Phillips Associates has facilitated all of the Mackey Auto Group’s dealership sales.

Your Dealership Your Future - Why an Evaluation Matters

Wed, 10 Sep 2025 11:38:15 -0400

Evaluating your business matters because it provides you with a clear objective picture and deep understanding of its current and future potential worth. Critical factors that influence dealership value — such as manufacturer requirements, shifting franchise values, and evolving buyer and seller behavior are often overlooked by accountants unfamiliar with automotive industry nuances.

At Nancy Phillips Associates this is what we do every day. We specialize exclusively in dealership sales, acquisitions, and valuations. We listen to you, understand your needs, and empower you to reach your goals in today’s ever-changing industry.

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Grava Chrysler Dodge Jeep Ram sold to Matt McGovern

Tue, 15 Jul 2025 13:28:56 -0400

Nancy Phillips Associates is pleased to announce the sale of Grava Chrysler Dodge Jeep Ram in Medford, MA sold to Matt McGovern of McGovern Auto Group.

The dealership originally began operations in 1984 as Chrysler Plymouth of Medford, Inc. and has remained a family-owned business led by two generations of the Grava family. Most recently, Ralph Grava served as President, working alongside his brothers Eric Grava, and Peter Grava Jr.. Over the years, the dealership evolved into Grava Chrysler Dodge Jeep Ram, reflecting the full suite of Stellantis brands. The Grava family is looking forward to their retirement following the sale.

Ralph Grava had this to say about the transaction;

"I never realized just how much was involved in the purchase and sale of a dealership until I went through the process. Carrie guided me from start to finish with professionalism, responsiveness, and genuine care. Anytime we hit a hiccup, she was immediately on the phone and quick to resolve it.

What stood out the most was Carrie’s communication—whether I called or texted, she always responded promptly and made me feel supported every step of the way. Even when we were hesitant to move forward, she remained patient and understanding until we were ready.

This deal had unique complexities, including the real estate component, and Carrie’s expertise extended across all aspects. She had trusted connections for everything—from business attorneys and land experts to accountants for closing day. She truly had every tool needed to keep the process running smoothly.

I would absolutely recommend that any dealer—buyer or seller—work with a broker, and more specifically, choose Carrie and the team at Nancy Phillips Associates. They made what could have been a stressful process feel seamless and supported."

McGovern Auto Group was founded in 2016 by automotive industry veteran Matt McGovern, former CFO of Group 1 Automotive and co-founder of Prime Motor Group. Today, with more than 30 dealership locations, McGovern Auto Group stands as one of the largest automotive enterprises in New England. The acquisition of Grava Chrysler Dodge Jeep Ram strengthens McGovern’s footprint in the Greater Boston market and presents new opportunities for continued growth in the region.