Fuccillo sells Kia store to Morgan Automotive & more dealer buy-sell moves

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Auto Remarketing
June 8, 2022

Fuccillo Automotive Group has sold its Fuccillo Kia of Clermont dealership in the Orlando, Fla.-area to Florida-based Morgan Automotive Group, according to a news release from Kerrigan Advisors, which represented Fuccillo in the sale.

Morgan Automotive Group has 53 Florida dealerships throughout Tampa, Gainesville, Ocala, Lake City, Jacksonville, Sarasota, Naples, Fort Myers, Brandon, New Port Richey, Orlando and surrounding areas.

“Florida dealerships are among the highest volume and most profitable in the nation,” Kerrigan Advisors vice president Gabe Robleto said in a news release. “Given that fact, we were humbled to once again advise the Fuccillo family, this time on the Fuccillo Kia of Clermont transaction. We’re proud of the work we’ve done in helping the family monetize over 30 years of dedication, hard work and community investment.”

Company founder and managing director Erin Kerrigan said: “Representing the Fuccillo organization again was a real honor. Demand for dealerships remains at record high levels given the industry’s robust profitability and attractive business model. Kerrigan Advisors expects 2022 to be at or above 2021’s record level for transactions, as valuations remain high and dealers continue to allocate record amounts of capital to acquisitions.”

Next up, Geaux Automotive Group has purchased Hatcher Chevrolet Buick GMC in Brownsville, Tenn., from Donnie Hatcher, according to a news release from Performance Brokerage Services.

In another deal involving that brokerage firm, the company announced that Hummel’s Nissan of Des Moines, Iowa has been sold to Willis Automotive.

Owner Mark Hummel said in a release, “Paul Kechnie of Performance Brokerage Services was instrumental in getting the deal to the finish line. He was able to provide detailed insight as to what would be expected. Through the selling process, he was attentive, responsive, and always available. I am very happy with the transaction and services provided by Paul and Performance Brokerage Services.”

About Kerrigan Advisors

Kerrigan Advisors is the premier sell-side advisor and thought partner to auto dealers nationwide. 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. Kerrigan Advisors has represented some of auto retail's largest transactions and advised more of the largest dealership groups in the US than any other buy/sell firm in the industry. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, the firm does not take listings, rather they develop a customized approach for each client to achieve their personal and financial goals. In addition to Kerrigan Advisors' sell-side advisory and capital raising services, the firm also provides a suite of consulting 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 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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