Federated Member Hovis Auto and Truck Supply Holds Annual Customer Appreciation Day

Federated member Hovis Auto and Truck Supply recently held its annual customer appreciation celebration at its distribution center facility in Mercer, PA.

“We want to thank our customers and manufacturing partners who attended our annual customer appreciation day,” said Cliff Hovis, president of Hovis Auto and Truck Supply. “It was a great event and we had a tremendous turnout. It was also a terrific opportunity for people to see our new distribution and training center that opened earlier this year. I want to thank Ken Schrader and Kenny Wallace for making a guest appearance. Our customers really enjoyed meeting them.”

As part of the festivities, nearly 400 guests were treated to food and beverages, door prizes provided by manufacturers and an autograph signing session with NASCAR drivers and Federated spokesmen Schrader and Wallace. In addition, the Federated 300 pace car was on display.

Located in western Pennsylvania, Hovis Auto and Truck Supply has been a family-owned business since 1952. Since that time, it has grown to 14 locations plus the new warehouse facility. Hovis executives are industry leaders with Cliff Hovis currently serving on the executive committee and board of governors for Federated Auto Parts, while Vice President Curt Hovis serves on a variety of paint, body and equipment manufacturer boards.

For more information, visit the Federated Auto Parts website.

When Your Shop Is Worth Much More Than You Thought

Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.

Case Study: Owner of San Francisco-based Import Service Shop Delighted to Discover Just How Valuable His Business is to Qualified Buyers
I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
In the case of Cowden Automotive, Inc., I acted in a consulting capacity assisting the owner and his broker in valuing the business, creating a marketing plan, finding a qualified buyer, and arranging financing for the sale.
Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.
Needless to say, delivering that kind of good news to a shop owner is a rewarding experience. Discovering that the sale of his business would result in his retirement nest-egg being substantially larger than he had ever thought was a fitting tribute to someone who had spent his entire working career as a busy automotive service shop owner.

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