Sale of Earnhardt Kia and Rodeo Hyundai is 11th top 150 dealer group Kerrigan Advisors has been advising since 2015
INCLINE VILLAGE, Nevada, September 02, 2021 – (BUSINESS WIRE) – Kerrigan Advisors represented Earnhardt Auto Centers on the sale of Earnhardt Kia in Phoenix, Arizona and Rodeo Hyundai in Surprise, Arizona to Ken Garff Automotive Group. These transactions mark Ken Garff’s first merchant acquisitions in the Arizona market. Earnhardt Auto Centers, a long-standing fixture in the western US, was named by Automotive News as the 23rd largest dealer group in the US for new sales by 2020. In particular, this transaction is the 11th top 150 trader group advised by Kerrigan Advisors since 2015.
The sale of Earnhardt Kia and Rodeo Hyundai is the second and third dealer Kerrigan Advisors sold in the Phoenix market in the last 12 months (October 2020 after Lithuania).
“We are excited to advise Earnhardt Auto Centers, one of the leading dealer groups in the country, on the sale of their valuable Kia and Hyundai franchises,” said Erin Kerrigan, founder and CEO of Kerrigan Advisors. “Earnhardt has built one of the strongest names in the Arizona marketplace based on a reputation for exceptional customer and employee service instilled by its founder, Tex Earnhardt. It was important to find a buyer with the same family focus that The Earnhardts would carry on the legacy of caring for their customers and their employees. “
“Kerrigan Advisors identified the perfect buyer for our businesses who appreciated the value of entering the Phoenix market with great import brands,” said Hal Earnhardt, co-owner of Earnhardt Auto Centers. “Kerrigan Advisors has been instrumental in the success of this transaction. We are delighted to have these dealerships run by another family-run dealership group with the same focus on customer service and employee appreciation.”
The story goes on
“Kerrigan Advisors was instrumental in this transaction,” agreed Brett Hopkins, Chief Executive Officer of the Ken Garff Automotive Group, one of the largest family-run dealer groups in the United States. “Erin and her team do an amazing job working with their customers to make sure the sales process goes smoothly.”
“This transaction is a convergence of two major trends in the buy / sell market: aggregate demand for Kia / Hyundai franchises and a booming auto retail market in Arizona, where dealerships have some of the highest revenue per franchise in the country,” said Ryan Kerrigan, managing director of Kerrigan Advisors. “These two dealers represented an exceptional opportunity for Ken Garff to enter the high-growth Phoenix market with some of the fastest growing brands in the industry,” said Kerrigan Advisors, commenting on Kerrigan Advisors’ quarterly Blue Sky Report, highlighting the diverse prospects for both Brands increased in the fourth quarter of 2020.
“The auto business has been in our family for generations, dating back to our grandfather Tex, who moved to Chandler as a young man in 1951,” said Dodge Earnhardt. “Tex was a legend and he built a legendary business based on the ‘no cop’ business practices that we continue to follow to this day. We were very grateful for the high level of customer service we received from Kerrigan Advisors for being the same Share directness, personal approach to their work on behalf of their dealer customers. “
“Tex always said: ‘Treat everyone like you would treat your mom!'” Said Derby Earnhardt. “That’s exactly what Kerrigan Advisors did for us during a complex transaction involving two traders and a buyer who was new to the Phoenix market. We would recommend them to any trader considering selling in today’s active buy / sell market . “
Kerrigan Advisors is the most active sell-side advisor on major automotive retail deals and has had the highest sales price per customer of any company in the past five years. The company credits its success to laser focusing its team on fulfilling each client’s personal and professional goals. In addition to providing sales-side advisory services, the company provides strategic advisory services to dealers and their families, including growth planning, capital raising, and valuation analysis, to create value at every stage of the automotive retail life cycle.
Kerrigan Advisors monitors buy / sell market conditions and publishes an in-depth analysis each quarter in The Blue Sky Report®, which includes Kerrigan Advisors’ signature Blue Sky charts, multipliers and analysis for each luxury and non-luxury franchise contains segments. To download a preview of the report, Click here. The company also publishes the Kerrigan Index ™ monthly, which is composed of the seven public auto dealers whose activities focus on the US market. The Kerrigan Auto Retail Index is designed to track car dealership valuation trends while providing key insights into factors influencing the auto trade. To access The Kerrigan Index ™, Click here. To read the 2020 Kerrigan Dealer Survey, Click here. Kerrigan Advisors is also the co-author of NADA’s Guide to Buying and Selling a Car Dealership.
About Kerrigan Advisors
Kerrigan Advisors is a leading sell-side advisor and think tank to auto dealers in the United States. The company advises the leading dealer groups in the industry and adds value throughout the life cycle of growing, operating and, when the time is right, selling their stores. Kerrigan Advisors has represented on some of the largest auto retail deals and advised 11 top 150 dealer groups in the US, more than any other buy / sell firm in the industry. Led by a team of experienced industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, the company does not take stock exchange listings, but develops a tailor-made approach for each client in order to achieve their personal and financial goals. In addition to Kerrigan Advisors’ sell-side advisory and fundraising services, the company also provides a range of advisory services including growth strategy, market valuation evaluations, capital allocation, transactional due diligence, open point proposals, operational improvement, and property due diligence. Diligence.
Kerrigan Advisors publishes The Blue Sky Report®, the auto industry’s most comprehensive and authoritative quarterly report on dealership buying / selling activity and franchise values, received by nearly 10,000 industry participants in 35 countries. To register to receive The Blue Sky Report®, Click here. Kerrigan Advisors also publishes the Kerrigan Index ™, the only monthly index that tracks the seven publicly traded auto dealerships. To access The Kerrigan Index ™, Click here. To read the 2020 Kerrigan Dealer Survey, Click here. Kerrigan Advisors is also the co-author of NADA’s Guide to Buying and Selling a Car Dealership.
Kerrigan Advisors Founder and General Manager Erin Kerrigan is a recognized expert in dealer valuation, real estate, and buying / selling and is a frequent speaker at leading automotive retail events and conferences including NADA, JD Power Automotive Roundtable, Automotive News’ Canadian World Congress, AICPA and NADC. She has also been quoted multiple times by the Wall Street Journal, CNBC, Bloomberg, and The Economist, and has been a keynote speaker at events for the American Honda Motor Company, Audi of America, US Trust, Bank of America, Ohio Automobile Dealer Association, and SunTrust-Bank. Erin Kerrigan was named one of the leading women in the automotive industry in 2020 by Auto Remarketing. Ryan Kerrigan, Managing Director of Kerrigan Advisors, is also a sought-after industry expert. He is featured in a monthly column for Dealer Magazine and has written Op-Eds for Automotive News.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005693/en/
contacts
Kerrigan Consultant Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 949-307-1723
[ad_2]
