Southern California landmark dealership changes ownership after 57 years
Irvine, CA, July 18, 2017 – Kerrigan Advisors, the leading sell-side advisory firm to auto dealers in the US, represented and advised Honda of Hollywood, one of Southern California’s oldest Honda dealerships, in its sale to Bakhtiari Auto Group. Honda of Hollywood is owned by Patricia, Don, and Bill Robertson. With this acquisition, Bakhtiari Auto Group will own eight dealerships in California, including Ford, Honda, Mitsubishi, and Subaru.
“It’s been a privilege to serve the people of Southern California for close to 60 years,” said Don Robertson. “We’ve seen generations of families come and go at our dealership on Santa Monica Boulevard, so we take our connection to the community seriously. That’s why we’re excited about what the Bakhtiari Auto Group will bring to the dealership in terms of experience, investment, and commitment.”
“For a transaction as important as this, it’s been invaluable having Kerrigan Advisors’ expertise to guide us to this important outcome for our family,” said Robertson. “Ryan’s unique experience, insight and service – especially when it came to the real estate and environmental complexities of the transaction, made this deal come together.”
Kerrigan Advisors, headed by Erin and Ryan Kerrigan, has now represented on the sale of 52 dealerships since July 2015, making it the most active sell-side advisor in the auto retail industry. The firm has also represented three of the top 100 dealership groups in the last 18 months.
“Honda of Hollywood has always been known for its family-style operations and total focus on friendly customer service,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “We wanted to make sure the Robertsons received that level of customer satisfaction from Kerrigan Advisors, in a transaction that delivered the best possible financial outcome.”
Aaron Jacoby and David Meyer of Arent Fox LLP served as legal counsel to Honda of Hollywood.
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 the report, click here. The company 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.
Ryan Kerrigan is Managing Director of Kerrigan Advisors and an expert on US auto retail buy-sell transaction work. Prior, Ryan served as Managing Director at Serent Capital, a $250mm private equity fund investing in middle market companies and served as General Manager of the family’s auto dealership. Mr. Kerrigan began his career as a management consultant at McKinsey & Company, where he advised Fortune 500 companies on growth strategies, organizational issues, pricing and business valuation.
About Kerrigan Advisors
Kerrigan Advisors is the leading dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers nationwide. Led by a team of veteran advisors, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. The firm has sold 52 dealerships since 2015. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.
In addition to the monthly Kerrigan Auto Retail Index, each quarter, Kerrigan Advisors publishes The Blue Sky Report®, a Kerrigan Quarterly, which is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership buy/sell activity and franchise values. Kerrigan Advisors’ Managing Director, Erin Kerrigan, is a recognized industry expert on dealership valuation, real estate, and buy/sells, and is a frequent speaker at leading auto retail events and conferences, including NADA, JD Power Automotive Roundtable, AICPA, NADC and Driving Sales’ President’s Club. She has also been a keynote speaker for events hosted by American Honda Motor Company, Audi of America, US Trust, Ohio Automobile Dealer Association, and SunTrust Bank and has led webinars for NADA and Automotive News. Kerrigan Advisors’ Managing Director Ryan Kerrigan is also a sought-after industry expert. He is featured in a monthly column for Dealer Magazine and has written Op-Eds for Automotive News, among other outlets.
Kerrigan Advisors Media Contact:
Melanie Webber (email@example.com), mWEBB Communications, 949-307-1723