Kerrigan Advisors Represents Puente Hills Chevrolet in Sale to Pendragon PLC

Written by:
Melanie Webber
mWEBB Communications
November 1, 2017

Kerrigan Advisors, the leading sell-side advisory firm to auto dealers in the US, represented and advised Tom Hoffman and Gary Campbell, co-owners of Puente Hills Chevrolet, in their recent sale to Pendragon PLC. The dealership has been in the Hoffman family since 1944, originally doing business as Leo Hoffman Chevrolet. Pendragon PLC is a UK-based auto retailer with over 220 dealerships worldwide; the company currently operates five dealerships in the United States under Pendragon North America.

"It's been an incredible experience to be connected so deeply to the greater San Gabriel Valley community," said Tom Hoffman. "It's been 73 years of selling and servicing cars for families, first as Leo Hoffman Chevrolet, and now as Puente Hills Chevrolet," he said. "It has been a privilege to grow our business and be a part of this wonderful community."

"Heading into this transaction, it was critical that our sell-side advisors understand our business, its value and opportunities," said Gary Campbell. "When a family sells a dealership after 70-plus years of ownership, it brings with it a unique set of complexities. Our sell-side advisor had to know how to navigate through these potential challenges. That's why we chose Kerrigan Advisors. They have deep experience and expertise in terms of representing multi-generational dealerships and dealer families.

"Kerrigan Advisors, headed by Erin Kerrigan and Ryan Kerrigan, has represented on the sale of 60 dealerships since July 2015, making it the most active sell-side advisor in the US auto retail industry. Ryan Kerrigan noted that the sale of Puente Hills Chevrolet was of particular note because the dealership is being acquired by an international buyer. This buy/sell trend, which was featured in Kerrigan Advisors 2016 Third Quarter Blue Sky Report®, is expected to continue for the remainder of 2017 and into 2018.

"We were privileged to work with Tom and Gary in creating the right transaction for their families. We are confident that this is a very positive outcome for the employees and customers of Puente Hills Chevrolet," said Ryan Kerrigan, Managing Director of Kerrigan Advisors. "We are also happy to see Pendragon grow its footprint in Southern California and expect more international buyers to enter the US auto retail market in the future."

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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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