Kerrigan Advisors Represents Earnhardt Auto Centers in Las Vegas Dealership Sale
INCLINE VILLAGE, Nevada–(BUSINESS WIRE)–Kerrigan Advisors, the leading sell-side advisor and opinion partner to auto dealers nationwide, represented Earnhardt Auto Centers, based in Phoenix, Arizona, in connection with the sale of Earnhardt Buick GMC and from Earnhardt Mazda in Las Vegas to Jerry Seiner dealerships based in Utah. Earnhardt Auto Centers is one of the largest family-owned dealership groups in the United States and was named by Automotive News as the 23rd Largest dealer group in the United States by 2020 new unit sales.
“Selling these stores was not an easy decision for our family, but it was the right one as we focus more on our very successful core stores in Arizona. Once again, Kerrigan Advisors not only identified a great new owner for the stores, but they also ensured a smooth and seamless transaction,” said Dodge Earnhardt, President of Earnhardt Auto Centers. “We are very grateful to the team at Kerrigan Advisors, especially Erin Kerrigan and Marie Brashears, for their hard work in ensuring the success of this sale.”
“It was an honor to represent the Earnhardt family and to work with their leadership team again,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “We were delighted to identify the right buyer for the valuable Las Vegas Earnhardt dealerships. The management team of Jerry Seiner and owner Chris Hemmersmeier recognized the value of entering the Las Vegas market with these franchises and the opportunity presented by the city’s tremendous economic expansion for continued sales growth.
Las Vegas is fertile territory for auto dealerships: Nevada’s auto retail market has grown 65% since 2008 and now totals $8.3 billion in overall dealer revenue. Las Vegas is home to 2.3 million people, is the 4and MSA has the fastest growing in terms of population since 2017 and is one of the fastest growing metropolises in the United States. Additionally, Nevada is considered one of the most business-friendly states in the United States due to its friendliness, low taxes, and attractive operating costs.
“The Earnhardt dealerships were sold in a very competitive buy/sell landscape where buyer demand is high, particularly in growth markets. Las Vegas is just that: it’s booming and business-friendly,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “In fact, the Centennial Market, where Earnhardt Buick GMC and Mazda Las Vegas are located, is one of the largest auto markets in Las Vegas. We are confident that The Jerry Seiner Group will continue the Earnhardt’s legacy of success with these franchises.
Kerrigan Advisors is the most active selling advisor on large deals in the automotive retail industry, achieving the highest selling price per customer of any firm for the past five years. The company attributes its success to its team’s laser-focused focus on achieving each client’s personal and professional goals. In addition to its sell-side advisory work, the company provides strategic advisory services to dealers and their families, including growth planning, capital raising and valuation analysis, creating value at every stage of the automotive retail life cycle.
Kerrigan Advisors monitors conditions in the buy/sell market and publishes in-depth analysis quarterly in The Blue Sky Report®, which includes blue sky charts, multiples and Kerrigan Advisors analysis for each franchise in luxury and non-luxury. segments. To download a preview of the report, click here. The company also publishes the Kerrigan Index™ monthly, comprised of the seven publicly traded automotive retail companies whose operations are focused on the US market. The Kerrigan Auto Retail Index is designed to track dealer valuation trends, while providing key insights into the factors influencing auto retail. To access the Kerrigan™ Index, click here. To read the 2021 Kerrigan Dealer Survey, Click here. Kerrigan Advisors is also a co-author of NADA’s A Dealer’s Guide to Buying and Selling.
About Kerrigan Advisors
Kerrigan Advisors is the premier sell-side advisor and thought partner to automotive dealerships nationwide. The firm advises the industry’s leading dealer groups, enhancing value throughout the lifecycle of growing, operating and, when the time comes, selling their businesses. Kerrigan Advisors has represented some of the largest automotive retail transactions and advised more of the largest dealer groups in the United States than any other buy/sell firm in the industry. Led by a team of seasoned industry experts with a background in investment banking, private equity, accounting, finance and real estate, the firm does not take listings, but rather develops a personalized approach to each client to achieve their personal and financial goals. In addition to Kerrigan Advisors advisory and capital raising services, the firm also provides a suite of advisory services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, proposals open points, operational improvement and real estate due diligence. .