6 calculated risk Harley-Davidson dealerships sold to Navigant Oak, LLC

Calculated Risk Motorcycle Group, an investment company that includes six Texas Harley-Davidson dealerships – including Texas’ largest Harley-Davidson dealership – and two Lucky Penny Cycles, has been sold by owner Adam Smith to Navigant Oak, LLC , a private holding company . The sale allows Smith to retain a 20% stake in all dealerships as well as a seat on the board of directors. The sale closed on May 16.

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Calculated risk dealerships purchased include Smith’s flagship Texas Harley-Davidson in Bedford, Texoma Harley-Davidson in Sherman, Lumberjack Harley-Davidson in Nacogdoches, Roughneck Harley-Davidson in Longview, HD Waco and Texarkana Harley-Davidson. It also includes Lucky Penny Cycles in Bedford and Houston, specializing in used motorcycles. The new holding company for all stores will operate as Navigant Motor Group.

Smith, 48, opened his first Harley-Davidson dealership in Grand Prairie, Texas in 1996, making him the youngest to own and operate a Harley-Davidson dealership at age 22. Smith learned to ride a motorcycle before learning to ride a bicycle. He has logged over a quarter of a million miles across the United States, including scenic drives through Alaska, Sturgis and Daytona. In 2017 Smith opened the largest Harley-Davidson dealership in Texas. Texas Harley-Davidson is 72,000 square feet, spans six acres, and has two showrooms. Like all calculated risk dealerships, it offers a full schedule of social events, riding lessons and group rides for its customers.

Smith served as chairman of the Harley-Davidson Dealer Advisory Council in 2018, representing the approximately 675 Harley-Davidson dealerships across the country. Its dealerships have also won several coveted Bar & Shield awards from Harley-Davidson.

The sale to Navigant Oak represents one of the first dealership acquisitions by a financial buyer in the Harley-Davidson arena. The parent company generally barred family offices and private equity investors from acquiring dealership franchises. Harley-Davidson recently eased ownership restrictions to facilitate growth.

Navigant Oak (NavOak) is a private holding company for a Southeast Michigan family’s portfolio of businesses and investments. It is a family business that specializes in working with owners who are leaving businesses while striving to maintain the longevity and commitment to the business the owner originally created. Navigant Oak currently has interests in several sectors, including aerospace, HVAC, real estate, transportation, retail, industrial equipment, power generation, business services and automotive supply.

Members of the NavOak team have found success as the owner of Cummins Bridgeway LLC, an exclusive distributor for Cummins Inc. Experience in this space aligns with the company’s goals and future success. Additionally, the Navigant Oak team has a proven reputation for working in synergy with a strong and admired parent company. This will continue with Harley-Davidson.

“Navigant Oak was the best cultural fit for Calculated Risk, and I appreciate it being a family business,” Smith said. “I’ve been in this business for 31 years, it’s a lot of friends, motorcycles and rides. I started with a 6,000 square foot store with six team members and grew to eight locations with over $100 million in annual revenue. I accomplished what I wanted to accomplish in this industry. It’s the right partner and the right time for me to find out what might be next in life for me and to take a back seat for once.

The existing dealer management team will remain and continue to be a driving force for the business. NavOak’s management will include managing partners Ethan Allen and Aaron Cozart under the leadership of company director Greg Boll.

“Navigant Oak is thrilled to partner with Adam Smith and the incredibly talented team he has assembled at each dealership. Carrying on the legacy of the iconic Harley-Davidson brand is a pleasure for our team,” said Allen .

“Harley-Davidson is an iconic American brand with a bright future. As technology and customer desires evolve, Navigant Motor Group intends to embrace and capitalize on HD’s roots as well as new ingenuity to create meaningful growth opportunities for all stakeholders – the dealer, the manufacturer and most importantly the customer,” added Cozart.

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