Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of Malvese Equipment, a heavy construction and agriculture equipment dealership in Hicksville & Riverhead, New York, from Al & Otto Cooley to Dobbs Equity Partners.
Founded in 1912 as a two-employee vehicle repair shop, Malvese Equipment evolved alongside the changing needs of Long Island, expanding into agricultural equipment as tractors transformed the farming industry. The company persevered through the rough days of the Great Depression, employing 29 people by 1929 and establishing a reputation for exceptional customer service and reliability. As the demand for construction equipment surged throughout the 1950s and 1960s, Malvese Equipment expanded its market into heavy construction equipment. After a century of family ownership and operation, Paul Malvese retired in 2020, and Albert and Otto Cooley acquired the dealerships. With the sale of Malvese Equipment to Dobbs Equity Partners, the company enters a new chapter.
Upon closing, Otto Cooley, Owner of Malvese Equipment Co., Inc. said, “For more than a century, Malvese Equipment has built its reputation by adapting to the changing needs of our customers while remaining committed to the values that have defined our business since 1912. From our beginnings as a small repair shop serving Long Island’s agricultural community to becoming one of the region’s premier equipment dealerships, every generation has worked to preserve our legacy of quality, service, and long-term customer relationships. When the time came to consider the future of our company, it was important to find an advisor who not only understood the equipment dealership industry but also appreciated the significance of the business we had built over the years.”
Otto added, “Pat Albero and the team at Performance Brokerage Services exceeded our expectations throughout the process. Pat took the time to understand our history, our culture, and the unique strengths that have allowed Malvese Equipment to thrive for generations. His professionalism, strategic guidance, and consistent communication gave us confidence every step of the way, ultimately helping us identify the right partner to carry our legacy forward. Just as importantly, he understood how important it was to preserve the legacy we have built. I am excited to continue leading the day-to-day operations of the business as I always have, ensuring our employees, customers, and community continue to receive the same level of commitment and service that has defined Malvese Equipment for generations.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of nearly 450 dealerships, making it the highest volume dealership brokerage firm in North America. Pat Albero and Dan Argiro, Senior Partners of the Commercial Truck and Equipment Division for Performance Brokerage Services, were the exclusive sell-side advisors for this transaction.
“Representing Malvese Equipment in this milestone transaction was a true privilege,” Pat Albero commented. “After more than a century of family ownership, our goal was to identify a partner that would not only recognize the company’s exceptional value but also preserve the legacy, culture, and relationships that have defined the Malvese name since 1912. Dobbs Equity Partners proved to be that partner. Their long-term investment philosophy, commitment to local leadership, and operational expertise aligned perfectly with Otto Cooley’s vision for the future. We are proud to have brought together two organizations that share the same values and are confident Malvese Equipment is exceptionally well positioned for its next century of success.”
Dobbs Equity Partners, founded in 2009, was built on a family legacy that began in 1921, when James K. Dobbs and Horace Hull opened their first Ford dealership. Over the following decades, the business grew into the nation’s first automotive dealership chain with over 60 locations. By 1998, after more than 80 years in automotive retail, Dobbs Automotive Group had become the third-largest automotive retailer in the United States. Today, Dobbs Equity Partners continues that tradition of growth and long-term investment, leveraging decades of experience while successfully investing alongside partners across a diverse range of industries, including restaurants, airline catering, distribution, and healthcare.
John Dobbs, CEO of Dobbs Equity Partners, shared, “At Dobbs Equity Partners, we are long-term owners and operators of businesses, not short-term financial investors. Our organization has extensive experience acquiring, managing, and growing multi-location equipment and automotive dealership businesses through disciplined operational execution, strategic capital investment, inventory management, process improvement, and a relentless focus on customer satisfaction. We believe sustainable growth is achieved by empowering local leadership, investing in people, strengthening manufacturer relationships, and providing the resources necessary for businesses to reach their full potential while preserving the culture and reputation that made them successful in the first place. Pat Albero and the team at Performance Brokerage Services played an instrumental role in bringing our organizations together. Pat understood from the outset that this transaction was about far more than the purchase of a business—it was about preserving a family legacy while positioning the company for its next chapter of growth. His industry expertise, professionalism, and thoughtful guidance fostered trust throughout the process and helped ensure both parties remained aligned from the initial discussions through closing.”
John added, “We are especially excited that the existing leadership team will continue leading the day-to-day operations of the business. Their experience, industry knowledge, and commitment to customers will provide continuity for employees, manufacturers, and the communities Malvese Equipment has proudly served for generations. By combining their exceptional leadership with Dobbs Equity Partners’ operational resources, acquisition experience, and long-term investment philosophy, we believe the company is exceptionally well positioned to continue expanding its market presence while remaining true to the values that have defined the Malvese name for more than 100 years. We are honored to carry that legacy forward and look forward to building upon it together for generations to come.”
Malvese Equipment will remain at their current locations in Hicksville & Riverhead, New York under the same dealership names.
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