Powersports Listings Mergers & Acquisitions Facilitates Ownership Transition of Gateway Cycles to Derek Harmon
Gateway Cycles Showroom ● From left: David Clay, Mike Pate, Eileen Rosania, Carl Rosania, Tom Macatee ● Photo Credit: About Powersports Listings | Mergers & Acquisitions
MOUNT STERLING, Ky., February 6, 2024 (VSNewsNetwork.com) - Powersports Listings Mergers & Acquisitions has orchestrated the transition of ownership for Gateway Cycles in Mount Sterling, KY, to Derek Harmon, a noted entrepreneur in the Northeast Kentucky powersports and outdoor equipment market. According to a recent press release, the dealership, which has been nurtured and expanded by Carl and Eileen Rosania over the past two decades, has evolved from a modest parts and service shop into a prominent multi-line powersports dealership. The Rosanias' efforts have been recognized with several Ichiban national dealer awards from Kawasaki, in addition to maintaining high regional rankings across all product lines.
From left: Derek Harmon, Carl Rosania ● Photo Credit: Powersports Listings | Mergers & Acquisitions
Gateway Cycles, a dealer of leading brands such as Kawasaki, Suzuki, CFMOTO, SSR-QJMOTOR, Moto Guzzi, and Kayo, is housed in a nearly 19,000-square-foot facility, a site formerly known as a Piggly Wiggly supermarket. The acquisition process, concluded on January 30, 2024, was led by Jerry Szopinski, President of Sales & Networking at Powersports Listings Mergers & Acquisitions, alongside Mike Pate, Vice President; David Clay, CIO; and Tom Macatee, CEO.
The Rosanias shared their sentiments on the sale, stating, "It has been an amazing run building Gateway Cycles for more than 20 years and we thank Powersports Listings for helping us with a successful sale as we plan for a new chapter in life. We have amazing customers and employees and can't thank them enough for allowing Gateway Cycles to thrive!" Derek Harmon expressed his enthusiasm for the acquisition, remarking, "Gateway Cycles is a perfect addition to our existing Kentucky powersports footprint. We thank Carl and Eileen Rosania for such a clean transition of ownership."
This transaction highlights the role of Powersports Listings Mergers & Acquisitions, a Dallas, Texas-based professional brokerage firm specializing in the powersports industry, in facilitating the sale and ensuring a smooth transition of ownership.
Source: Powersports Listings Mergers & Acquisitions via Newswire
