Transaction will expand Family Car Group’s presence into the Shreveport-Bossier City, Louisiana market with four new OEM partners, including top luxury brands Porsche and Audi
Shreveport, Louisiana — May 22, 2024 — Moffitt Automotive, one of the longest-serving family-owned auto retailers in the Shreveport-Bossier City, Louisiana market, announces the sale of the family’s dealership group to Family Car Group, a prominent Toyota and Volkswagen dealer based in Dallas, Texas owned by Skip Jabbar. The sale includes all four of Moffitt’s import dealerships, Porsche and Audi in Shreveport, and Mazda and Volkswagen in Bossier City – the only points for these franchises in the greater Shreveport-Bossier City area.
Founded in 1964, Moffitt Automotive is owned by the second generation of the Moffitt family. The group’s many accolades over the last six decades include founder Fred Moffitt being named Louisiana’s TIME Dealer of the Year in 2006, current co-owner Susan Moffitt being named the TIME Dealer of the Year in 2020, Porsche Shreveport ranking as a top 25 Premier Dealer in 2020 and Audi Shreveport receiving the Magna Society Award in 2022. The Moffitt family has been deeply engaged with the Louisiana community, including major contributions to multiple organizations such as Shriners Hospitals for Children, LSU Health Shreveport Foundation, St. Jude Children’s Research Hospital, Boy Scouts of America, Special Olympics and the Deaf Action Center.
“We did not make the decision to sell and pass on our family legacy lightly,” said Susan Moffitt, Co-Owner of Moffitt Automotive. “After careful thought and consideration, we chose Family Car Group because of their operational excellence, and because they share our values, including a strong commitment to employees and meaningful community involvement. We are incredibly proud that our family legacy, started by our father 60 years ago, will continue with the Family Car Group under Skip Jabbar’s leadership. Thank you to our advisor, Kerrigan Advisors, for their support, guidance and for finding us the perfect steward for the future of our dealership group.
“We are thrilled to expand the Family Car Group brand into Louisiana and proud to represent Porsche, Audi, Volkswagen and Mazda in a top market like Shreveport,” said Skip Jabbar, owner of Family Car Group. “The Moffitt family has built an incredible organization that perfectly aligns with ours, and we look forward to welcoming their employees and customers into our family.”
Shreveport is the economic anchor of the Ark-La-Tex region, which grew its population over 43% since 2010. The area’s economy is projected to expand 19% by 2026, supported by growth at the Port of Caddo-Bossier, dozens of real estate developments and a low-cost business environment. Moffitt benefits from being a top import group in Shreveport, which has high luxury market share and is a single-point market for its franchises. In addition, Porsche, Mazda and Audi are #1, #2 and #4 fastest growing US brands by national sales growth since 2019, respectively.
“We were honored to work with the Moffitt family and lead their sale process to a very successful outcome,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors, which represented Moffitt in the transaction. “The legacy of their family will be in wonderful hands with the Family Car Group. Congratulations to Skip and his team, and thank you to the entire Moffitt family for entrusting us with your family legacy.”
Kerrigan Advisors is auto retail’s leading sell-side advisor having completed the sale of more than 350 franchises representing over $8 billion in client proceeds. This transaction will mark the firm’s 267th dealership sale and the 6th Porsche dealership and 15th Audi dealership sold since the firm’s founding in 2014.
Kerrigan Advisors is the leading sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of over 280 dealerships representing $9 billion in client proceeds, including the third largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. The firm advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors does not take listings, rather they develop a customized sales approach for each client to achieve their personal and financial goals. In addition to the firm’s sell-side advisory services, Kerrigan Advisors also provides a suite of consulting and investor services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement and real estate due diligence.
Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, which includes Kerrigan Advisors’ signature blue sky charts, multiples, and analysis for each franchise in the luxury and non-luxury segments. To download a preview of the report, click here. The firm also releases monthly The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here. To read the 2023 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
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