One transaction involved an auto retailer on Automotive News’ list of the top 150 dealership groups.
One of the country’s largest private dealership groups expanded in its home state, while a Canadian auto retailer expanded its U.S. holdings and a Midwest group bought a Ford store.
Here’s a look at the deals involving domestic dealerships and import stores in Florida, South Dakota and Indiana.
Florida’s Gettel Automotive expanded its presence in the state with the purchase of a Toyota store in Tampa.
Gettel on Monday bought Stadium Toyota from the Parks and Couey families, according to Kerrigan Advisors, a sell-side firm in Incline Village, Nev. Kerrigan Advisors represented the sellers in the transaction.
The dealership was renamed Gettel Stadium Toyota.
It marks Gettel’s fifth Toyota store in Florida. The group also has domestic and luxury brands throughout the state and one dealership in Georgia, according to its website.
Gettel Automotive ranks No. 57 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 14,338 new vehicles in 2022.
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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.