Kerrigan Advisors Represents San Antonio, Texas-Based Alamo Toyota and Houston, Texas-Based Tejas Toyota in Sale
2024年6月18日 - 9:00PM
ビジネスワイヤ(英語)
Sale of the top selling brand in San Antonio
and Houston highlights buyers continued interest in leading
franchises in high-growth markets; transaction represents the 17th
franchise sold by Kerrigan Advisors in Texas in the last 12
months
Kerrigan Advisors, the premier sell-side advisor and thought
partner to auto dealers nationwide, represented the Toomey family
in the sale of Alamo Toyota in San Antonio, Texas to Shottenkirk
Auto Group and Tejas Toyota in Houston, Texas to Vaughan
Automotive. With the completion of these transactions, Kerrigan
Advisors has represented on the sale of 47 Toyota/Lexus dealerships
since 2014 (14 in the last 12 months) and 17 Texas-based franchises
in the last year, making the firm the leading sell-side advisor in
the state.
“My family is proud of our legacy of successfully representing
Toyota in the great state of Texas for over five decades,” said
John Toomey, Co-Owner, Alamo Toyota and Tejas Toyota. “We are
incredibly grateful for the years of loyalty and support we’ve
received from the Houston and San Antonio communities, as well as
our employees and our customers. While the time was right for our
family to sell our stores, it was certainly a difficult decision.
We will greatly miss the business and our business family and look
forward to seeing the dealerships thrive under new ownership with
the Shottenkirk and Vaughan organizations.”
“This was a bittersweet decision for our family to sell;
however, we were very grateful to be working with Kerrigan Advisors
whose sensitivity to our needs matched their incredible strategic
expertise in the industry,” said Richard Toomey, Co-Owner, Alamo
Toyota and Tejas Toyota. “Our family has been avid readers of The
Blue Sky Report® for many years and chose Kerrigan Advisors for
their leading Toyota and Texas transaction experience, as well as
their reputation for exceptional client service. True to form,
Kerrigan Advisors surpassed our expectations. We feel very
fortunate to have chosen Kerrigan Advisors to represent us on this
once-in-a-generation sale process and would recommend them to any
dealer family considering a sale.”
Texas is the largest, auto retail market in the Southern US, and
ranks as the most economical state in the country in which to do
business. Toyota is the #1 selling brand in both Houston and San
Antonio, which are two of the four anchor metropolitan areas in
Texas, and both are among the top ten fastest growing cities with
two million+ populations. Given its high sales per rooftop,
impressive growth and strong economy, Texas is the #2 most
requested state by dealership buyers today according to Kerrigan
Advisors.
“The Toomey family owned some of the most valuable dealerships
in Houston and San Antonio and we were honored to be chosen to work
with them to ensure their transaction was a success. It was
critical that we fulfill each of their objectives for the sale and
are proud to say that we were able to do so,” said Erin Kerrigan,
Founder and Managing Director of Kerrigan Advisors. “We are
confident that their long-standing reputation of service and
positive imprint on their communities will continue in the hands of
both these buyers. Thank you to the Toomey family for entrusting me
and my team to shepherd the sale process from beginning to a
successful outcome.”
Toyota franchises are highly sought-after due to their superior
sales per franchise, strong fixed operations and robust
profitability. In Kerrigan Advisors’ 2023 Dealer Survey, 93% of
respondents expect the value of the Toyota franchise to increase or
remain the same next year, the highest in the survey for the 5th
consecutive year. Additionally, 98% of Kerrigan Dealer Survey
respondents have a high or moderate level of trust in Toyota,
making it the most trusted brand by dealers. Toyota also ranks the
#1 brand requested by buyers in Kerrigan Advisors’ proprietary
Buyer Database of 1,000+ buyers nationwide.
“Toyota is the #1 brand in the industry and Texas is the #2 most
requested state by buyers today, leading to valuation premiums and
robust buyer demand,” said Ryan Kerrigan, Founder and Managing
Director of Kerrigan Advisors. “As identified in Kerrigan Advisors’
2023 Annual Blue Sky Report, while valuations are trending down for
most franchises, import and luxury franchises in top growth markets
are the exception. They continue to command strong valuations, in
part because many are retaining pandemic-level earnings because of
the growth dynamics in their markets. In light of all these
factors, we were proud to help the Toomey family navigate the
complexities of the strong buyer demand for their dealerships, and
achieve a premium valuation.”
Susan White of White, Starling & Osterman was legal counsel
to the Toomey family. George M. Taylor III of Burr & Furman was
legal counsel to Shottenkirk Auto Group. Eric Prigden of Underwood
& Roberts, PLLC was legal counsel to Vaughan Automotive.
About Kerrigan Advisors
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 270 dealerships
representing more than $8 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 2023
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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version on businesswire.com: https://www.businesswire.com/news/home/20240618657586/en/
Kerrigan Advisors Media Contact: Melanie Webber
(melanie@mwebbcom.com), mWEBB Communications, 949-307-1723