Following this week’s news that Steve Hatchett and Tom Devlin and other partners sold their Luxury Collection dealerships to Minnesota’s Walser Automotive Group, Hatchett and Devlin are now selling their Scholfield Buick-GMC and two Hyundai dealerships.
They’re selling to their sons, Scott Hatchett and Tim and Tommy Devlin, who have been involved with the businesses since 1998.
“The timing just was right for all this to transpire,” Scott Hatchett says.
He says his father and Tom Devlin have been partners since 1990.
“The long-term plan was always to have us buy them out,” Hatchett says. “It was the right time for us to move forward and finish what we started.”
He says he expects the deal to close by the end of the year. Hatchett did not disclose a purchase price.
The partners don’t plan any immediate changes.
“We obviously will look for growth opportunities,” Hatchett says. “We would certainly look at other deals.”
He says he and the Devlin sons want to honor their fathers “by continuing to operate a good business and take care of our customers.”
“They’ve done such a good job over many years.”