Kerrigan Advisors acted as the exclusive sell-side advisor for the sale of Ascent Automotive Group’s Metro Lexus and Lexus of Akron-Canton dealerships to Ken Ganley Automotive Group. The acquisition adds to Ken Ganley’s portfolio of over 50 dealerships across various brands.
This transaction represents a significant milestone for Kerrigan Advisors, marking its 304th dealership sale, its 82nd top luxury franchise sale, and its 16th Lexus dealership sale. Ryan Kerrigan, Managing Director of Kerrigan Advisors, emphasized the prestige of the Lexus dealerships and the firm’s role in facilitating a smooth transition.
Ascent Automotive Group, a subsidiary of Friedkin, operated the dealerships as part of a broader automotive portfolio. The company’s CFO, Josh Holm, expressed satisfaction with Kerrigan Advisors’ expertise and professionalism throughout the sales process.
Metro Lexus and Lexus of Akron-Canton are among the top Lexus dealerships in Ohio. Their strong market position in the Cleveland area, characterized by high per capita GDP and a large population, contributed to their desirability.
The Lexus brand’s performance, including its robust growth in 2024, significantly outpacing competitors, further fueled buyer interest. Erin Kerrigan noted the continued high demand for top-tier luxury franchises, emphasizing the limited supply of available dealerships and the brand’s strong reputation.
Kerrigan Advisors highlighted its extensive experience in facilitating Toyota and Lexus dealership transactions, having advised on over 50 such deals. The firm’s expertise in the luxury automotive sector positions them as a leading player in the industry.
Kerrigan Advisors positions itself as a leading sell-side advisor for automotive dealerships nationwide. Since its founding in 2014, the firm has completed over 300 dealership sales, generating billions in client proceeds. The firm’s expertise spans various aspects of dealership operations, including valuation, sale, and growth strategies. They provide regular market analyses and reports to stay abreast of industry trends.
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