INCLINE VILLAGE, Nev.--(BUSINESS WIRE)--Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Beaumont, Texas-based Kinsel Motors in its sale of Kinsel Toyota and Kinsel Ford, Lincoln and Mazda to Houston, Texas-based Doggett Automotive Group. Kinsel Motors recently celebrated its 100th anniversary of being in business in Texas and has been a mainstay in Beaumont since 1944.
“We were honored to work with the Kinsel family to identify a buyer to continue their family’s long legacy of exceptional customer service in Beaumont, Texas,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “The Kinsel family has served this auto retail market for over a century. The success of their dealerships, some of the highest volume in Southeast Texas, drove tremendous buyer demand, with Doggett ultimately being the best match for the family. Our team is very fortunate to work with exceptional dealer families, like the Kinsels, to ensure their personal and financial goals are paramount and most importantly achieved in a once-in-a-generation sale.”
“For four generations, Beaumont residents have counted on Kinsel Motors to help them buy and service their vehicles,” said Joe Bob Kinsel, co-owner of Kinsel Motors. “It has been our privilege to build something special here in Beaumont and the Southeast Texas community. We’re grateful to the community, and honored to have received so much friendship and support for the past 80 years.”
“Having this generational connection to Beaumont meant that getting this transaction right was the most important thing for our family,” continued Kinsel. “The Kerrigan Advisors team, particularly Erin Kerrigan, Marie Brashears and Mercedes Hendricks, were some of the most professional people we have ever worked with in our careers. Their attention to detail and tremendous commitment to their clients are what make them the best in the business.”
“It’s been a privilege to manage and lead so many loyal and hardworking employees at Kinsel Motors,” said Craig Kinsel, President of Kinsel Motors. “The secret to our success is no secret — it has always been the people who come to work every day and provide stellar customer service. So, when it came to the mechanics of the deal, the guidance we received from Kerrigan Advisors was a critical factor in our success. While selling our business was a hard decision, choosing Kerrigan Advisors to represent us made it a much easier one. The process could not have gone smoother with Kerrigan leading the way.”
Texas is the 2nd largest auto retail market in the nation and generates the 4th highest revenue per dealership averaging $93 million in 2022, 30% higher than the national average. It is consistently the 2nd most requested state in Kerrigan Advisors’ buyer database and is arguably the most attractive in the nation given its high sales per rooftop and impressive growth. In 2022, Texas dealerships accounted for nearly 10% of total US dealership revenue.
“The Texas market remains in high demand by dealership buyers and this transaction shows how active the buy/sell market is for volume dealerships in high-growth, business-friendly areas. Texas is one of the largest economies in the world, and continues to experience above average population and economic growth,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “As a result, buyer demand for Texas dealerships continues to outstrip supply, resulting in top valuations for dealerships in the state.”
Kerrigan Advisors is the most active sell-side advisor on larger transactions in the auto retail industry, achieving the highest sale price per client of any firm over the last five years. The firm attributes its success to its team’s laser-focus on fulfilling each client’s personal and professional goals. In addition to its sell-side advisory work, the firm offers strategic consulting services to dealers and their families, including growth planning, capital raising and valuation analysis, creating value at every stage of the auto retail lifecycle.
Stephen Dietrich and Sarah Seedig of Holland & Knight served as legal counsel to the seller. Monica Hoenshell of Calvert Law Firm served as legal counsel to the buyer.
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 on 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 2022 Kerrigan Dealer Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
