Tim Lamb Group Sales & Acquisitions’ Post

What does it take to build an automotive empire? Gayle Benson, owner of the New Orleans Saints, shares her vision in expanding her business with recent acquisitions of dealerships and collision centers. Dive into the details of this strategic move and its potential impact ⬇️ #AutomotiveEmpire #GayleBenson #NewOrleansSaints

Mergers&Acquistions ■ AutoNation has sold eight of its dealerships for a total of $156 million! AutoNation sold eight dealerships in the third quarter, earning $156 million as it aimed to divest from underperforming stores. Nick Mayer Jr. purchased a Ford dealership in Wickliffe, Ohio, from AutoNation in August. It was one of eight dealerships the auto retail giant sold in the third quarter.  Source: Automotive News ■ AutoNation Inc. Q3 Profit Decreases, Misses Estimates WASHINGTON (dpa-AFX) - AutoNation Inc. (AN) announced a profit for third quarter that decreased from the same period last year and missed the Street estimates. ■ The company's earnings came in at $185.8 million, or $4.61 per share. This compares with $243.7 million, or $5.54 per share, in last year's third quarter. Excluding items, AutoNation Inc. reported adjusted earnings of $162.2 million or $4.02 per share for the period. ■ Analysts on average had expected the company to earn $4.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter fell 4.4% to $6.586 billion from $6.892 billion last year. ■ AutoNation Inc. earnings at a glance (GAAP) : -Earnings (Q3): $185.8 Mln. vs. $243.7 Mln. last year. -EPS (Q3): $4.61 vs. $5.54 last year. -Revenue (Q3): $6.586 Bln vs. $6.892 Bln last year.

Asbury Automotive Group has secured a spot on the Financial Times' list of America’s fastest-growing companies for 2024. With an impressive compound annual growth rate (CAGR) of 28.88% between 2019 and 2022, the company ranked 327th out of 500. This recognition highlights Asbury's strategic acquisitions and significant revenue growth over the past few years. Discover how Asbury is shaping the future of automotive retail and service. #AsburyAutomotiveGroup #AutomotiveRetail #AutobodyNews

The Dave Cantin Group Announces Biltmore Automotive Services’ acquisition of DCG’s Capital and Ownership Accelerator Program lines of business. The parties have been working together to advise first-time auto dealers for more than three years before they began negotiating this deal during the 2024 National Association of Minority Automobile Dealers (NAMAD) conference. The Ownership Accelerator Program, now part of Biltmore’s Path to Ownership, has helped dozens of first-time dealership buyers successfully acquire auto dealerships across the nation. With this transition, DCG Managing Director Jim Duffy is moving to Biltmore. “Biltmore is combining the DCG divisions that cater to first-time dealership buyers with its own Path to Ownership program for first-time buyers as DCG further concentrates its focus on advising the nation’s top 500 dealership groups on growth strategies, platform management, acquisitions and divestitures,” DCG President and CEO Dave Cantin said. “DCG Capital and OAP are important programs, and there’s no better home for them going forward than Biltmore.” This partnership reflects our continued commitment to elevating the retail automotive space through industry-leading solutions and services. Congratulations to the Biltmore Automotive Services LLC partners, Tim Devine, Ivan Rascanin, and Frank O’Donnell and the program participants served by these important programs. 📚 ➡ https://bit.ly/4e4aOa7

[NEWS] Top 5 dealership buy/sell deals from November and December: 1. Kelly Auto Group sells Florida Infiniti store. Kelly Auto Group decided to divest the location after spending several years growing its portfolio and undergoing big building projects at other locations. 2. Corwin Automotive Group acquires Colorado Honda dealership. Honda remains a highly profitable and sought-after brand coming in just behind Toyota and Lexus with little to no erosion in earnings. 3. Country Auto Stores offloads Buick GMC location in Northern Virginia. Purchased by Jaffer Syed, Country Buick GMC of Leesburg is the 7th highest volume Buick GMC dealership in the state. 4. Bohn Brothers Automotive Group sells 2 dealerships in Louisiana. In two separate transactions, Sonic Automotive acquired Audi New Orleans (#1 in the state), and Matt Bowers Auto Group purchased Hyundai Genesis of Metairie. 5. Warren Henry Auto Group adds Kia of Key West to its portfolio. Marking its sixth acquisition in the past two years, Warren Henry Auto Group will add the dealership to the Keys Auto Center family. Read today’s top automotive stories, presented by Dealer Pay: https://lnkd.in/gTCnv2rd (Data source: Haig Partners / Kerrigan Advisors / Pinnacle Mergers & Acquisitions / Performance Brokerage Services)

Published today - the Top 150 list in Automotive News. Congratulations to the groups with acquisition success and to the sellers who took this journey in realizing the efforts of their life’s work. DSMA - Valuations, Mergers & Acquisitions

[NEWS] Top dealership M&A deals from Oct. and Nov.: 1. Sheehy Auto Stores, Victory Automotive Group snag mid-Atlantic dealerships. Bill Kidd’s Timonium Toyota and Bill Kidd’s Volvo Cars located in MD sold to Sheehy Auto Stores. And Ball Toyota and Advantage Toyota out of WV sold to Victory Automotive Group. 2. Texas-based Cowboy Toyota sells to Norm Reeves. Cowboy Toyota is located in Dallas County, one of the fastest-growing populations in the country. 3. Fred Beans Automotive Group expands in Mechanicsburg, PA. Fred Beans Automotive Group has acquired three dealerships and a body shop from Freysinger Automotive. 4. Sutherlin Automotive exits Florida market. This marks the Sutherlin Automotive Group’s final divestiture of its Florida stores, following the sale of three dealerships in Aug. 5. Tasca Automotive Group is on a growth streak. Tasca Automotive Group has expanded into New York, New Jersey, and Massachusetts, with five new acquisitions this year. Read today’s top automotive stories, presented by Dealer Pay, LLC: https://lnkd.in/eMxwqq9c (Data source: Haig Partners / Kerrigan Advisors / Pinnacle Mergers & Acquisitions / Automotive News)

Thank you Automotive News for including Kerrigan Advisors’ analysis in the 2023 buy/sell review. There is no question the buy/sell market remains very active, despite higher for longer interest rates, declining industry earnings and a historic CDK disruption. Kerrigan Advisors projects 2024 will hit a new record for buy/sell activity and - in the strongest markets – record blue sky values. The robust, diversified nature of auto retail continues to demonstrate the economic value of owning dealerships in the US. https://lnkd.in/gQPDt9dD

Acquisitions from the Service Department are pivotal to your stores success. The first thing I’d look at it… regardless of size is the incentive for your Service Advisors to refer guests to sales. While they may know it is for the “greater good of the Company” they need to also realize a meaningful value to themselves.

Watch highlights from Kerrigan Advisors' 2024 Dealer Survey Report presented by Erin Kerrigan, where she reports on dealer sentiment remaining positive heading into 2025. Dealers are particularly optimistic about fixed operations and hybrid vehicle sales' impact on profitability, while electric vehicles (EVs) are seen as having a detrimental effect on profitability. Dealers are also seeking franchises with high trust levels as high valuations and strategic acquisitions are top of mind for 2025.   Watch the full video here: https://lnkd.in/gtpsfn4P   #kerriganadvisors #kerrigan #dealersurvey #dealers #dealerships #autoretail #automotive #autonews #valuations #EVs #hybrids