Irvine, CA - Kerrigan Advisors, the leading sell-side advisory firm to auto dealers in the US, represented and advised the Ron Tonkin Dealerships, Portland's largest auto dealership group, in its sale to Gee Automotive Companies. This transaction will create one of the nation's top 50 dealership groups. The Ron Tonkin Dealership Group, founded by Ron Tonkin in 1960, is ranked #93 on Automotive News' Top 150 Dealership Group list and is currently led by Ed and Brad Tonkin, co-presidents of the group and sons of Ron Tonkin.
"Kerrigan Advisors was instrumental to the sale process," said Brad Tonkin, who will remain with the company and serve as Platform President for Gee Automotive Companies. "The Kerrigan team identified the right buyer for our family's business. Kerrigan Advisor's responsiveness, client service and deep expertise was a key component to the success of this transition." said Ed Tonkin.
Kerrigan Advisors, headed by Erin and Ryan Kerrigan has now represented three of the top 100 dealership groups in the last 12 months, and is currently engaged to sell two additional top 100 groups. Upon completion of this sale, Kerrigan Advisors will have advised on the sale of 42 dealership transactions since July 2015, representing over $800 million in client proceeds.
"Our job is not simply to enable the best possible financial transactions for our clients, but to identify a buyer who will carry on the legacy of our clients' dealership business. This transaction is a perfect example of the fulfillment of those core goals," said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
"We know that Gee Automotive's commitment to the Tonkin brand and high levels of service, as well as to Tonkin employees, ensures that the Ron Tonkin Dealerships will continue to be a successful and respected part of the Portland business community - as well of the automotive community at large. We are proud to have been part of this significant transaction" said Ryan Kerrigan, Managing Director of Kerrigan Advisors.
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 Advisor's signature blue sky charts, multiples and analysis for each franchise in the luxury and non-luxury segments. To download the Blue Sky Report, click here. The company also releases the monthly Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan 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.
Erin Kerrigan is Founder and Managing Director of Kerrigan Advisors, and is a recognized industry expert on dealership valuation, real estate and buy/sells. A sought after commentator on automotive retailing topics ranging from consumer auto buying trends to auto retail consolidation to private equity in auto retail, she has keynoted numerous automotive conferences and her analysis has appeared in publications such as Automotive News and the Wall Street Journal.
Ryan Kerrigan is Managing Director of Kerrigan Advisors and an expert on US auto retail buy-sell transaction work. Ryan served as Managing Director at Serent Capital, a $250mm private equity fund investing in middle market companies. Prior, he served as General Manager of the family's auto dealership. Mr. Kerrigan began his career as a management consultant at McKinsey & Company, where he advised Fortune 500 companies on growth strategies, organizational issues, pricing and business valuation.