TPEG portfolio company Freedom Powersports entered into a management agreement on April 1, 2014 to begin operating North Texas House of Motorcycles and BMW Motorcycles of Fort Worth, both located in Hurst, Texas. Freedom immediately took control of these two dealerships with the intent to complete a purchase of all of their operating assets. After receiving approval from BMW, Yamaha, and Suzuki, the asset purchases closed on October 7, 2014.
These acquisitions are strategically important for Freedom, providing the company with its first opportunity to sell BMW products. They will also allow the company to consolidate these two dealerships with its existing Hurst dealership, eliminating a larger competitor and reducing the combined operating costs. Freedom has purchased a much larger and more prominent building in Hurst and will move all three locations into this building when renovations are completed this fall.