Kerrigan Advisors Facilitates Major Automotive Deal in Louisiana
Kerrigan Advisors, recognized as a leading sell-side advisor, has successfully represented Bohn Brothers Automotive Group in a significant transaction involving their Audi New Orleans dealership. This dealership stands out as the top Audi dealership in Louisiana and has now transitioned ownership to Sonic Automotive Group, a major player in the automotive retail sector based in Charlotte, North Carolina.
The Importance of This Deal
This transaction marks the culmination of extensive discussions and negotiations aimed at securing a suitable buyer for Bohn Brothers’ acclaimed luxury franchise. Gabe Robleto, Senior Vice President of Kerrigan Advisors, expressed satisfaction with this achievement, noting that it was a privilege to work closely with the Bohn family during the sale process. The acquisition signifies Sonic Automotive's expansion into Louisiana, as it sets up its first franchised dealership in the state.
History of Bohn Brothers Automotive Group
Founded in 1924, Bohn Brothers Automotive Group boasts a long-standing reputation in the automotive industry. Over the years, they have operated several dealerships, including the notable Audi Lafayette and Toyota of Slidell. Their strategic location of Audi New Orleans on North Causeway Boulevard positions it within a heavily trafficked area, catering to a broad audience and contributing significantly to the local automotive market.
Audi New Orleans' Market Impact
Audi New Orleans has established itself as a Magna Society award-winning dealership, controlling a substantial portion of the Audi market share within the state. It commands approximately one-third of Audi’s total market share in Louisiana, a remarkable feat contributing to the region's overall standing within the national Audi market.
Community and Customer Commitment
Both Donny and Scott Bohn, Co-Owners of Bohn Brothers Automotive Group, expressed their gratitude towards Kerrigan Advisors for their professionalism and support throughout this transition. They acknowledged the dedication of their employees and the local community, reassuring them that Sonic Automotive would maintain the high standards of service they had come to expect.
Analyzing Market Trends
According to Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors, this sale exemplifies the trend of larger dealership groups leveraging their strong financial positions to acquire high-volume dealerships. Their recent Blue Sky Report highlights how dealership acquisitions continue to shape the automotive retail landscape.
Legal and Financial Guidance
To navigate the complexities of the sale, Bohn Brothers Automotive Group enlisted the expertise of Stephen Dietrich and Brooke Sizer from Holland & Knight, who served as legal counsel. Additionally, Crowe LLP provided accounting support, ensuring a seamless transaction process.
About Kerrigan Advisors
Since its inception in 2014, Kerrigan Advisors has solidified its status as the premier advisory firm for auto dealerships across the country. They specialize in providing tailored solutions for clients seeking to sell their businesses, guiding them through each step of the process while maximizing their financial outcomes. Their expertise extends beyond mere sales to include consulting services aimed at operational improvement and market analysis.
Kerrigan Advisors is committed to monitoring buy/sell market conditions, exemplified by their quarterly publication of The Blue Sky Report. This comprehensive analysis includes valuable insights and trends relevant to the automotive industry, aiding clients in making informed decisions. They also produce The Kerrigan Index, tracking dealership valuation trends and offering insights into the automotive retail sector.
Frequently Asked Questions
What was the transaction involving Kerrigan Advisors about?
Kerrigan Advisors represented Bohn Brothers Automotive Group in the sale of Audi New Orleans to Sonic Automotive Group.
Why was this sale significant?
This sale marked Sonic Automotive's first franchised dealership in Louisiana and reinforced Bohn Brothers' legacy in the automotive industry.
Who were the key players in this transaction?
Gabe Robleto from Kerrigan Advisors facilitated the sale, while legal counsel was provided by Holland & Knight.
What services does Kerrigan Advisors offer?
Kerrigan Advisors specializes in sell-side advisory, consulting services, and market analysis for auto dealers nationwide.
What does the future hold for Bohn Brothers Automotive Group?
The company continues to operate its existing franchises and is grateful for past support as it transitions to new leadership under Sonic Automotive.
