Sale of Houston's high volume Chevrolet dealership highlights strong buyer demand for dealerships in Texas, the nation's second fastest growing market; marks Kerrigan Advisors’ 280th dealership sale, and 19th Texas franchise sold since 2023
Kerrigan Advisors Represents Buckalew Chevrolet in Sale of Houston, Texas Dealership to Keating Auto Group
Kerrigan Advisors Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 949-307-1723
Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Conroe, Texas-based Buckalew Chevrolet in its sale to Victoria, Texas-based Keating Auto Group, ranked 17th in Automotive News’ Top 150 Dealership Group list. The completion of this transaction represents Kerrigan Advisors’ 280th dealership transaction since the firm’s founding in 2014, and its 19th Texas franchise sold since 2023. Notably, Kerrigan Advisors leads the Houston buy/sell market, having represented on the sale of 11 franchises in the market in the last 18 months.
Buckalew Chevrolet was founded by Don A. Buckalew and his partner in 1965 and has been a cornerstone of the Conroe community for nearly 60 years. The dealership is known for supporting numerous local organizations, including schools (the local elementary school is named Buckalew Elementary), sports leagues, churches and non-profits throughout Montgomery County. Don’s sons, Donnie and Denny Buckalew, took over management and ownership of the dealership over the last decade, growing operations to become the 17th highest volume Chevrolet dealership in the state of Texas.
“The Kerrigan Advisors team managed every step of the sale process for us to ensure all of our goals were achieved in this once-in-a-generation milestone for our family,” said Donnie Buckalew, Co-Owner of Buckalew Chevrolet. “Kerrigan’s guidance and deep knowledge of the Texas buyer community were invaluable to me and my brother. We could not have done it without them.” Denny Buckalew, Co-Owner, continued, “Finding a buyer who prioritized community involvement and customer and employee satisfaction was a top priority for us. We are pleased that Kerrigan identified a buyer in Keating that shares our value system, laying the foundation for the dealership’s continued success.”
“It was a great privilege and honor to represent the Buckalew family in the sale of their highly valuable dealership. Buckalew Chevrolet is a pillar of the Conroe community, so it was imperative that we found a buyer who would ensure the Buckalew family’s legacy of community service and impeccable customer relations would continue,” said Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors. “The Keating Auto Group met all of our expectations for an ideal buyer. We are grateful for the opportunity to support Donnie and Denny in this important family milestone."
Chevrolet ranks as the top domestic brand, leading in quality and dealer relations. In 2024, J.D. Power ranked Chevrolet #2 overall and #1 among domestic brands in its Initial Quality Study, outperforming its domestic peers by 20%. Chevrolet’s U.S. light vehicle sales surged 19.5% in 2023, further widening Chevrolet’s lead over domestic competitors. Thanks to its practical approach to facility and EV requirements, Chevrolet also ranks high in dealer relations, topping the 2023 Kerrigan Dealer Survey for valuation expectations in 2024.
Houston is one of the most sought-after car markets by today’s dealership buyers, largely driven by its ranking as one of the largest and fastest growing U.S. metro areas. Houston is anchored by sizeable corporations and deep roots in the trade, technology, healthcare, defense, energy and space industries, and home to approximately 50% of Texas’ 55 Fortune 500 companies. It has the fifth largest population in the US, growing 23% since 2010, the second fastest rate of the 10 largest metro areas. Of the five largest counties in Houston, Montgomery County, where Buckalew is based, is the fastest growing since 2020. Additionally, Houston has been named the #1 Best Big City to Live by US News & World Report in 2024, and the #1 Best Place for Foreign Businesses by the Financial Times in 2023.
“This transaction is another example of the power of a valuable brand, in a rapidly growing metro area, in a state, Texas, that is at the forefront of dealership buyer demand,” said Ryan Kerrigan, Managing Director at Kerrigan Advisors. “The sale of Buckalew Chevrolet marks the 19th transaction Kerrigan Advisors has shepherded to completion in Texas since May of 2023, solidifying our position as the leading sell-side advisor to Texas dealers. It was an honor and a privilege for our team to work with the Buckalew family and their team in bringing this transaction to such a successful conclusion.”
Kerrigan Advisors leads the Texas dealership buy/sell market, having represented Kinsel Motors (Toyota, Ford, Mazda and Lincoln in Beaumont), Beck & Masten Auto Group (Buick GMC & Kia in Houston and Corpus Christi), Alamo Toyota in San Antonio, Tejas Toyota in Houston, Northwest CDJR in Houston, Cowboy Toyota in Dallas and now Buckalew in Houston.
About Kerrigan Advisors
Kerrigan Advisors is the leading sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of 280 dealerships representing $9 billion in client proceeds, including the third largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. The firm advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors does not take listings; rather they develop a customized sales approach for each client to achieve their personal and financial goals. In addition to the firm’s sell-side advisory services, Kerrigan Advisors also provides a suite of consulting and investor services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement and real estate due diligence.
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 a preview of the report, click here. The firm 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. To read the 2023 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241125700065/en/
