It marks the 14th largest Chevrolet dealership in Southwest Floriday Kerrigan has led franchise gross sales in Florida since 2019, making the corporate much more lively within the state
Downhill Village, Nevada, April 3, 2023–(BUSINESS WIRE)–Kerrigan Advisors, lead sell-side advisor and thought associate to auto sellers nationwide, represented the Winton and Denson households within the sale of Estero Bay Chevrolet to Group 1 Automotive (NYSE: GPI). Estero Bay Chevrolet is the biggest Chevrolet dealership in Southwest Florida, the second quickest rising space of Florida when it comes to inhabitants progress. With the closing of this transaction, Kerrigan Advisors has efficiently suggested on the sale of 14 franchises in Florida since 2019, making the corporate probably the most lively auto dealership advisor within the state.
In 2007, Charles Winton and associate Pat Denson have been chosen by Normal Motors to open Estero Bay Chevrolet in southwest Florida, probably the most engaging markets in the US. Because of her management, Estero Bay Chevrolet has turn out to be one of many largest dealerships within the area, successful quite a few awards from Normal Motors and the trade. Along with being the dominant Chevrolet seller in Southwest Florida, Estero Bay Chevrolet ranks sixth within the state and forty fourth within the nation (up 1.5%) when it comes to new unit gross sales of Chevrolet. The seller has received the celebrated Chevrolet Seller of the 12 months Award yearly since 2018, an honor given to pick out Chevrolet dealerships throughout the nation. As well as, Estero Bay Chevrolet can be the top-rated Carfax seller, lately received DealerRater Client Satisfaction Awards, and boasts one of many highest buyer scores with Kelley Blue E book, Automobiles.com, and Seller Surveys.
“Representing Charles Winton and Pat Denson on this deal has been an actual honor for me and my group. Not solely is Estero Bay an extremely helpful company, however it additionally represents Charles and Pat’s dedication to excellence and funding of their neighborhood. Estero’s success is a product of success,” mentioned Erin Kerrigan, Founder and Managing Director. For Kerrigan Advisors: “Demand for profitable, confirmed dealerships stays sturdy throughout the nation, and Estero Bay Chevrolet is a mannequin of success in its premier auto gross sales area: Florida is the biggest auto retail market, and probably the most engaging states for doing enterprise. Charles and Pat have constructed a tremendous legacy of success and neighborhood service at Estero Bay Chevrolet, and it was an honor to advise them on this transaction.”
Estero Bay Chevrolet’s give attention to customer support features a dedication to the communities surrounding the dealership, together with Naples, Bonita Springs and Fort Myers. Over time, the agent has been a proud donor and supporter of the neighborhood, offering scholarships to college students in want of monetary help at Florida Gulf Coast College. Winton, Basis Fellow and President Emeritus of the Florida Gulf Coast College Basis, helps nurture pupil progress and training by way of the Charles and Melanie Winton Basis, whereas Pat and spouse Brooke Denson function trustees at SWFL youngsters’s charities and leaders on the annual charity fundraising occasion, Southwest Florida Wine and Meals Fest, which raises cash to enhance well being providers for youngsters within the space.
“At an early age, my spouse and I realized the responsibility to present again,” mentioned Charles Winton, President of Estero Bay Chevrolet. “One of many methods we do that is by way of our assist of Florida Gulf Coast College. We imagine training equals hope and alternative; and our success at Estero Bay Chevrolet has helped construct these alternatives for others,” he mentioned. “Because the first shovel hit the dust the day we started constructing, our focus has been on constructing and working a first-class community-focused operation, together with our scholarships to Florida Gulf Coast College and our dedication to SWFL Youngsters’s Charities.
Winton started his profession as an accountant, spending greater than a decade working with monetary brokers as a CPA, studying retail “top-down and bottom-up,” and ultimately being accepted into Normal Motors’ Minority Seller Growth Program. The Charles and Melanie Winton Company continues to function within the better Fort Myers space together with the Charlotte, North Carolina market, the place Winton will proceed to personal and function South Charlotte Chevrolet and Rock Hill Buick GMC dealerships.
“We have been very happy to be represented by Kerrigan Advisors, a agency that clearly shares — and respects — Pat and I’s dedication to efficiency and professionalism,” Winton mentioned. “Their deep data of the nationwide dealership purchase and promote market, their group’s consideration to element, in addition to their expertise in shepherding the gross sales of many excessive quantity and helpful dealerships reminiscent of Estero Bay Chevrolet, was key to the success of this transaction. We can’t suggest Kerrigan Consultants sufficient For retailers contemplating promoting and searching for a associate to handle this course of from inception to success.
Florida brokers are among the many highest quantity and most worthwhile within the nation. Common income per company in Florida is the best in the US, because the state’s inhabitants and financial progress charge has been among the many highest within the nation. Florida is the fifth-fastest-growing state when it comes to inhabitants progress and is the fourth-best state within the Tax Basis’s 2022 State Enterprise Tax Local weather Index. The state’s sturdy inhabitants progress, favorable tax local weather, and better disposable revenue have positioned brokers in Florida among the many largest and most worthwhile within the state. Southwest Florida is on the forefront of this progress: Cape Coral MSA, which makes up 55% of the Southwest Florida space, is the twelfth quickest rising within the nation. Its inhabitants is predicted to extend by 34% and to have a inhabitants of greater than 1.05 million folks by 2045.
“The Estero Bay Chevrolet transaction follows a quantity development that we started monitoring in Blue Sky’s third quarter 2022 report,” mentioned Ryan Kerrigan, managing director of Kerrigan Advisors. “Because of economies of scale, high-volume dealerships profit from sustainable revenue margins. Because of this dealerships like Estero Bay Chevrolet—with run and profitable high-volume technique—promote at a premium. This development is very necessary in a business-friendly state like Florida.”
Stephen Dietrich of Holland & Knight acted as authorized advisor to the vendor. Buddy Dearman and Thomas England of FORVIS acted as accountants for the vendor. Brian Nolen of Nolen PLLC acted as authorized advisor to the purchaser.
Kerrigan Advisors is probably the most lively sell-side advisor for bigger transactions within the auto retail trade, having achieved the best promoting worth per buyer of any firm over the previous 5 years. The corporate attributes its success to its group’s laser give attention to reaching every consumer’s private {and professional} objectives. Along with its sell-side advisory work, the agency offers strategic advisory providers to sellers and their households, together with progress planning, capital elevating and valuation evaluation, and worth creation at each stage of the auto retail lifecycle.
Kerrigan Advisors screens circumstances within the purchase/promote market and publishes in-depth evaluation every quarter in The Blue Sky Report®, which incorporates Kerrigan Advisors’ signature blue sky charts, multiples and evaluation for every franchise within the luxurious and non-luxury segments. To obtain a preview of the report, click on right here. The corporate additionally month-to-month releases the Kerrigan Index™ comprising seven publicly traded auto retailers targeted on the US market. The Kerrigan Auto Retail Index is designed to trace seller valuation developments, whereas offering key insights into the components affecting the auto retail enterprise. To entry The Kerrigan Index™, click on right here. to learn a file 2022 Kerrigan Dealership Survey, click on right here. Kerrigan Advisors can be the co-author of NADA’s Information to Shopping for and Promoting a Dealership.
About Kerrigan Advisors
Kerrigan Advisors is the lead sell-side advisor and thought associate to auto sellers nationwide. The agency advises trade main seller teams, enhancing worth by way of the expansion and operation life cycle and, when the time is true, promoting their enterprise. Kerrigan Advisors has represented among the largest retail auto transactions and suggested extra seller teams in the US than every other shopping for/promoting agency within the trade. Led by a group of seasoned trade consultants with backgrounds in funding banking, non-public fairness, accounting, finance and actual property, the agency doesn’t rating listings, however relatively develops a custom-made strategy for every consumer to realize their private and monetary objectives. Along with Kerrigan Advisors’ sale advisory and capital elevating providers, the agency additionally offers a variety of advisory providers together with progress technique, market assessments, capital allocation, transaction due diligence, open level proposals, course of enchancment and actual property due diligence.
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Contacts
Kerrigan Advisors Media Contact:
Melanie Weber (melanie@mwebbcom.com), mWEBB Communications, 949-307-1723
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