Market Overview

Kerrigan Advisors Represents Car Pros Automotive Group in Sale

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Carson KIA, the Nation's highest-volume KIA Dealership, sold to
Trophy Automotive Dealer Group

Kerrigan Advisors, the leading sell-side advisory firm to auto dealers
in the U.S., represented and advised Car Pros Automotive Group in their
recent sale of Carson KIA, the highest volume KIA dealership in the U.S.
since 2016. The buyer is the Southern California-based Trophy Automotive
Dealer Group (TADG). Opened in 2017, the dealership's new
state-of-the-art facility spans 72,000 square feet, and is a flagship in
KIA's national distribution network. This marks the 5th dealership that
TADG has purchased in Southern California in recent years.

"This was a very big decision for our family. While we have no intention
of leaving the car business, we felt that selling our large KIA store in
Carson made sense, both for our family and for the strategic direction
of the Group," said Matthew Phillips, CEO of Car Pros Automotive Group
and son of the founder and chairman, Ken Phillips. In addition to the
Carson store, Car Pros Automotive Group comprises six dealerships in
Northwest Washington and Southern California. "I'd like to thank
Kerrigan Advisors for smoothly guiding us through this process, with
such a high level of professionalism – they truly understand everything
a seller goes through and offered sensitivity, a keen understanding of
the current (and future) automotive landscape and support every step of
the way."

Kerrigan Advisors has represented on the sale of 72 dealerships since
July 2015, making it the most active sell-side advisor in the auto
retail industry.

"Ken and his family are the top KIA retailers in the United States and
have been a huge part of that brand's success on the West Coast – which
is also one of the most demanding and cutting-edge automotive markets in
the world," said Ryan Kerrigan, Managing Director of Kerrigan Advisors.
"From the start, in handling this transaction, we focused on that
innovative spirit. This is a crown jewel for the KIA brand, and we were
proud to be able to offer Carson KIA the representation it deserved."

The Phillips family has retailed more than 100,000 KIAs in the U.S.,
more than anyone else, ever – an achievement that reflects their
generational connection to the brand, and to the West Coast automotive
market. "I opened my first dealership in Des Moines, Washington in 1984,
based on the ideals of honesty and integrity," said Founder Ken
Phillips. "As I look back, for the past 35 years, we've held true to
those standards in everything we've done. I am proud to say that our
recent transaction was handled in the same fashion. Kerrigan Advisors
really helped to provide the expertise we needed to transition our Group
toward the next phase of Car Pros automotive retail."

"We were honored to represent the Phillips family on this big
transaction," said Erin Kerrigan, Managing Director of Kerrigan
Advisors. "This is a landmark dealership in the KIA network, and we have
enjoyed working with the Phillips family to develop their game plan for
the next leg of their group's growth. We congratulate Trophy Automotive
Dealer Group on adding Carson KIA to their portfolio of Southern
California dealerships."

Gus Paras and Bert Rasmussen of Scali Rasmussen served as legal counsel
to Car Pros Automotive Group. Aaron Jacoby of Arent Fox served as legal
counsel to Trophy Automotive Dealer Group.

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 the report,
click
here
. The company 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
.

Ryan Kerrigan is Managing Director of Kerrigan Advisors and an expert on
US auto retail buy-sell transaction work. Prior, Ryan served as Managing
Director at Serent Capital, a $250mm private equity fund investing in
middle market companies and 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.

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
, CNBC.com, and the Wall Street Journal.
For a recent video of Erin's commentary on the market, click
here
.

About Kerrigan Advisors

Kerrigan Advisors is the leading dealership buy/sell advisory firm
focused on providing a high level of client service for dealership
sellers nationwide. Led by a team of veteran advisors, Kerrigan Advisors
customizes each sale process to maximize the seller's transaction
proceeds. The firm has sold 72 dealerships since 2015, including five of
the Top 100 Dealership Groups in the U.S. With the most comprehensive
buyer database in the industry, Kerrigan Advisors has the industry
context and expertise to match every seller with the right buyer. In
addition to Kerrigan Advisors' sell-side transaction work, the firm also
provides a suite of consulting services including accounting preparation
for sale, litigation support, open point applications and transactional
due diligence.

In addition to the monthly Kerrigan Auto Retail Index, each quarter,
Kerrigan Advisors publishes The Blue Sky Report®, a Kerrigan
Quarterly, which is the auto industry's most comprehensive and
authoritative quarterly report and analysis of dealership buy/sell
activity and franchise values. Kerrigan Advisors' Managing Director,
Erin Kerrigan, is a recognized industry expert on dealership valuation,
real estate, and buy/sells, and is a frequent speaker at leading auto
retail events and conferences, including NADA, JD Power Automotive
Roundtable, AICPA, NADC, and Driving Sales' President's Club. She has
also been a keynote speaker for events hosted by American Honda Motor
Company, Audi of America, US Trust, Ohio Automobile Dealer Association,
and SunTrust Bank and has led webinars for NADA and Automotive News.
Kerrigan Advisors' Managing Director Ryan Kerrigan is also a
sought-after industry expert. He is featured in a monthly column for
Dealer Magazine and has written Op-Eds for Automotive News, among other
outlets.

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