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Jenkins Auto and Jim Schmidt groups make acquisitions

The owner of a used car business since 2007 has purchased a franchise dealership in Center Point, Iowa, North Cedar Rapids.

Alex Tovstanovsky, who with his family owns Prestige Motor Works in Naperville, Illinois, on July 28 bought Junge Center Point, a Ford-Chrysler-Dodge-Jeep-Ram store.

The agent has been renamed Sky Automall and Tovstanovsky plans to expand the agency and add more staff.

“Owning and operating a franchise dealership for new cars representing five of our country’s top auto manufacturers is a dream come true,” Tovstanovsky, who came to the United States at the age of seven, He said in a press release.

Jason Jung, who owned the dealership with his father, Gary Young, said Junge Center Point has been a family-run store for more than 30 years.

Jason Junge said they sold the store because “there was an interested party. It made sense. Timing is everything.”

Junge Automotive Group maintains a Lincoln-Volvo-Mazda store in Hiawatha, Iowa, and a Ford-BMW dealership in North Liberty, Iowa, as well as body shops.

Arenson Law Group in Cedar Rapids represented the seller in the transaction, while Chicago attorney Ira Levine represented the buyer.

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