Sale of Lafayette’s top volume luxury dealership marks Kerrigan Advisors’ 281st dealership sold since inception, and 68th luxury franchise sold since 2014; transaction illustrates continued buyer demand for high-quality, low-risk franchises.
LAFAYETTE, La.--(BUSINESS WIRE)--Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Audi Lafayette dealership to Community Auto Group. Owned by Roger Elswick, Community Auto Group is a premier Honda, Kia, and Toyota dealer based in Houston, Texas.
The completion of the Audi Lafayette transaction represents Kerrigan Advisors’ fourth Audi franchise sold in 2024 alone, and its 281st dealership transaction since 2014.
“We are delighted to have completed the sale of Bohn Brothers Automotive Group’s Audi Lafayette dealership and to work again with Donny and Scott Bohn and their exceptional team,” said Gabe Robleto, Senior Vice President, Sell-Side Advisory at Kerrigan Advisors. “Our ten-year history with the family gives us a unique understanding of their legacy of exceptional customer and community service and the importance of that continuing with a new owner. We are gratified to have identified Community Auto Group to carry the torch and continue Audi Lafayette’s superlative support of the Lafayette community.”
Bohn Brothers Automotive Group originated with the founding of the Bohn Motor Company by George W. Bohn in 1924 in New Orleans. Over the years, the group has expanded its footprint and today operates Audi New Orleans, Toyota of Slidell and Hyundai Genesis of Metairie. An award-winning dealership, Audi Lafayette is the #1 volume luxury dealership in Lafayette, outperforming Mercedes and BMW in new unit sales. The decorated dealership has earned six consecutive years of Magna Society Elite status and six Magna Society awards.
“I want to express my gratitude to Gabe and the entire team at Kerrigan Advisors for their outstanding work in finding the ideal buyer for our Audi Lafayette dealership and for shepherding this transaction to a very successful conclusion,” said Donny Bohn, Co-Owner of Bohn Brothers Automotive Group. “I also would like to give a special thank you to our employees and the Lafayette community for their loyalty and support. I am confident the community will continue to be well-served by Audi Lafayette under the leadership of Community Auto Group.”
With a population of over 414,000, Lafayette is the third largest, and fastest-growing, metro area in Louisiana, driven by its low cost of living and robust economy, and was named the “Happiest City in America in 2023” by The Wall Street Journal’s Market Watch.
A growing brand in the US, Audi achieved the third highest sales growth among all luxury franchises in 2023 and reached an overall US market share of nearly 1.5% -- the highest level in the company’s history. In Lafayette, Audi captured an impressive 14.5% luxury market share, outperforming the US average of 8.1%.
“This transaction offers yet another example of how buyers continue to gravitate to lower-risk, higher-quality franchises located in growth regions of the US. Our firm has now sold 130 franchises in the South in less than 10 years and we expect we will continue to be very active in 2025, given buyers’ preferences for top franchises in business-friendly markets,” said Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors. “It was such an honor to work with the Bohn family on this sale and we are confident that their Audi Lafayette dealership will continue to thrive with its new owners.”
Stephen Dietrich and Brooke Sizer of Holland & Knight served as legal counsel to Bohn Brothers Automotive Group. Crowe LLP was the seller’s accountant. Chris Goodrich and Gregory Goodrich of Crady Jewett McCulley & Houren LLP served as legal counsel to Community Auto Group.
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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