Kerrigan Advisors Facilitates Key Automotive Deal in Louisiana
Kerrigan Advisors has made significant strides in the automotive industry by successfully representing Bohn Brothers Automotive Group in the sale of their Hyundai Genesis dealership to Matt Bowers Auto Group. This strategic move comes just after Bohn Brothers completed the sale of their Audi Lafayette dealership, showcasing the ongoing success of Bohn Brothers in the automotive market.
About the Transaction and Its Impact
The recent transaction is a notable milestone for Kerrigan Advisors, marking their 283rd dealership and the 133rd franchise sold in the Southern region since 2015. Matt Bowers Auto Group, owned by Matt Bowers, operates six dealerships across various states, enhancing their portfolio with this new acquisition, which strengthens their presence in Louisiana.
Statements from Key Individuals
Gabe Robleto, the Senior Vice President of Sell-Side Advisory at Kerrigan Advisors, expressed pride in supporting the Bohn family during this transaction, emphasizing the sustained strength of the auto retail market in the South. His focus was to ensure a seamless sale process, which has resulted in a positive outcome for all parties involved.
Bohn Brothers Automotive Group's Legacy
Bohn Brothers Automotive Group, which also owns Toyota of Slidell, has a rich history that dates back to the establishment of the Bohn Motor Company by George W. Bohn in 1924. Through generations, the Bohn family has continued to grow and adapt in the automotive industry. The Hyundai of Metairie dealership, recognized as the leading Hyundai dealership in New Orleans, has been under their ownership since 2009, further establishing its strong market position.
Market Insights and Future Outlook
New Orleans, being the largest metropolitan area in Louisiana, plays a critical role in the automotive market. With over 1.2 million residents, it serves as an economic hub with an array of major corporations and educational institutions. The growth forecasts for the region are robust, making it an attractive location for automotive retail. Hyundai, in particular, has performed exceptionally well, ranked as the fourth best-selling brand in New Orleans, significantly surpassing the national average in market share.
Metairie's Auto Market Dynamics
Metairie is a vital area within New Orleans, capturing nearly 50% of new vehicle sales in the region. The demand from dealership buyers for high-volume markets reinforces Metairie’s status as a prime location for automotive ventures. Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors, reiterated the firm’s enjoyment in working alongside the Bohn family to navigate this successful sale, congratulating all involved.
The Support Behind the Deal
Legal support during this transaction was provided by Stephen Dietrich and Brooke Sizer from Holland & Knight, ensuring all legal frameworks were adhered to. Meanwhile, Crowe LLP played a critical role as the seller's accountant, further solidifying the structure of the deal.
About Kerrigan Advisors
Founded in 2014, Kerrigan Advisors has emerged as a leading sell-side advisor to auto dealerships across the nation. The firm has successfully facilitated over 280 dealership sales, totaling around $9 billion in proceeds for clients. Their operational model does not follow traditional listings but instead focuses on customizing their approach to meet each client’s unique goals.
Kerrigan Advisors also publishes insightful market analyses quarterly in their report, The Blue Sky Report®, which contains valuable data on dealership valuations. Their comprehensive services extend beyond simple transactions to include market assessments, operational improvements, and growth strategies tailored for each dealership.
Frequently Asked Questions
What led to the sale of Hyundai Genesis of Metairie?
The sale was facilitated by Kerrigan Advisors to streamline operations and expand the Bohn Brothers Automotive Group's portfolio through Matt Bowers Auto Group.
How does the sale impact the local automotive market?
The sale enhances the competitive landscape in New Orleans, particularly in Metairie, where car sales are lucrative and significant.
Who provided legal support during the transaction?
Holland & Knight, represented by Stephen Dietrich and Brooke Sizer, served as legal counsel to Bohn Brothers Automotive Group.
What is the history of Bohn Brothers Automotive Group?
Bohn Brothers Automotive Group has a storied history dating back to 1924 and has continued to evolve through multiple generations of the Bohn family.
What services does Kerrigan Advisors provide?
Kerrigan Advisors specializes in sell-side advisory services, transaction support, market valuation assessments, and operational improvement strategies among others.
