Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Los Angeles-based Keyes Automotive Group on its recent sale of nine dealerships to Lithia Motors, Inc. (NYSE: LAD). Keyes Automotive Group is owned by Howard Keyes and Howard Tenenbaum. The sale encompassed some of the highest volume auto dealerships in the US, including Keyes European (Mercedes-Benz), ranked #2, Keyes Lexus, ranked #9, Keyes Audi, ranked #5, Keyes Hyundai, ranked #3, as well as an additional five high volume dealerships, Keyes Toyota, Lexus of Valencia, Audi Valencia, Mission Hills Hyundai all in the Los Angeles, California market and Bell Road Toyota, located in the Phoenix, Arizona market. With this transaction, which is one of the largest in the industry’s history, Kerrigan Advisors has now sold more than 100 dealerships since its founding in 2015, making the firm the most active sell-side advisor to the highest value transactions in auto retail. The sale of Keyes Automotive Group’s nine dealerships is the seventh Top 150 Dealership Group Kerrigan Advisors has sold in the last five years.
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 275 dealerships representing nearly $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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