Kerrigan Advisors Represents Asbury Automotive Group in Sale of Larry H. Miller Ford, Chevrolet and CDJR Dealerships in Provo, Utah to Salt Lake Valley Auto Group

Sale of three dealerships in Utah, the second fastest growing state in the US and a top auto retail market, marks Kerrigan Advisors’ 294th dealership sold nationwide.

SALT LAKE CITY--(BUSINESS WIRE)--Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Atlanta-based Asbury Automotive Group (“Asbury”) (NYSE: ABG) in the sale of its Larry H. Miller Ford, Chevrolet and CDJR dealerships in Provo, Utah to Salt Lake Valley Auto Group. Asbury Automotive Group is divesting these stores, originally acquired through its notable 2021 acquisition of Larry H. Miller dealerships, as part of its strategy to optimize the group’s brand mix. Salt Lake Valley Auto Group, owned by the Keyvani family, is a 4-store Utah dealership group founded in 1983.

This transaction brings Kerrigan Advisors’ completed dealership sales since 2014 to 294, leading the industry in both the US and the Western Region, with more than 130 franchises sold in the West.

“It was great to work with Kerrigan Advisors again on another successful transaction,” said David Hult, President and CEO of Asbury Automotive Group. “Erin Kerrigan and her team ensured we found the right buyer for this divestiture, and we appreciated their professional management of the sale process from beginning to end.”

“Kerrigan Advisors was with us through each stage of this transaction,” stated Amanda Parrilli, Vice President of Corporate Development and Real Estate at Asbury Automotive Group. “Thank you to the entire Kerrigan Advisors team, including Erin Kerrigan and Pierre Dempsey, for their tremendous efforts on this sale.”

“We were honored to represent Asbury Automotive Group in the divestiture of these three dealerships,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “Asbury’s approach to portfolio management is a great example of how the buy/sell market continues to evolve, with well-capitalized groups thoughtfully rebalancing their assets to align with long-term growth goals. We’re proud to support our clients in executing transactions that advance both their financial and operational objectives. Transactions like this one highlight the continued strength of the buy/sell market, particularly in high growth markets like Utah.”

Utah is the second fastest-growing state in the West, with projected growth of nearly one million new residents over the next 15 years. The state economy has more than doubled over the past two decades, earning national recognition for sustained growth and economic vitality, ranking #1 Best Economic Outlook by Rich States, Poor States for the 16^th year in a row. Utah is also a high-volume auto retail market, with vehicle sales up 29% since 2020 and average dealership revenue per rooftop exceeding the NADA average by 17%. Situated 45 minutes south of Salt Lake City, Provo stands out as the state’s fastest-growing market, with high car ownership per household, strong median incomes and a thriving job market. The area has witnessed impressive GDP expansion of 70+% since 2017, reaching $45 billion in 2023. Provo also ranks as the #1 mid-size metro in the US based on projected population growth through 2028.

“Buyers are increasingly focused on high-growth markets, and Utah stands out as one of the most attractive states for automotive retail investment,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “With strong population growth, a resilient economy and rising vehicle demand, it is no surprise that opportunities like this are in high demand. We are seeing more regional buyers prioritize tuck-in acquisitions like this one to strengthen their market share, create operational efficiencies, and build scale in markets where they see long-term growth potential.”