Southern California landmark dealership changes ownership after 57 years  

Irvine, CA, July 18, 2017 – Kerrigan Advisors, the leading sell-side advisory firm to auto dealers in the US, represented and advised Honda of Hollywood, one of Southern California’s oldest Honda dealerships, in its sale to Bakhtiari Auto Group.  Honda of Hollywood is owned by Patricia, Don, and Bill Robertson. With this acquisition, Bakhtiari Auto Group will own eight dealerships in California, including Ford, Honda, Mitsubishi, and Subaru.

“It’s been a privilege to serve the people of Southern California for close to 60 years,” said Don Robertson. “We’ve seen generations of families come and go at our dealership on Santa Monica Boulevard, so we take our connection to the community seriously. That’s why we’re excited about what the Bakhtiari Auto Group will bring to the dealership in terms of experience, investment, and commitment.”

“For a transaction as important as this, it’s been invaluable having Kerrigan Advisors’ expertise to guide us to this important outcome for our family,” said Robertson. “Ryan’s unique experience, insight and service – especially when it came to the real estate and environmental complexities of the transaction, made this deal come together.”

Kerrigan Advisors, headed by Erin and Ryan Kerrigan, has now represented on the sale of 52 dealerships since July 2015, making it the most active sell-side advisor in the auto retail industry.  The firm has also represented three of the top 100 dealership groups in the last 18 months.  

“Honda of Hollywood has always been known for its family-style operations and total focus on friendly customer service,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “We wanted to make sure the Robertsons received that level of customer satisfaction from Kerrigan Advisors, in a transaction that delivered the best possible financial outcome.” 

Aaron Jacoby and David Meyer of Arent Fox LLP served as legal counsel to Honda of Hollywood.

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.

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 52 dealerships since 2015.  With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.

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.

Kerrigan Advisors Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 949-307-1723

GoPro veteran brings decades of senior level expertise in consumer products strategy, design, R&D and engineering to his role at Reviver, creators of the digital license plate

San Francisco, CA - June 20, 2017 – Reviver, creator of the rPlate™, the world’s first digital license plate, today announced that Fabrice Barbier, who served as Senior Vice President of Consumer Devices at GoPro since 2013, has been appointed Chief Operations Officer. A talented and seasoned executive, Fabrice has over 30 years of experience in technology, business strategy, product development and operations. In addition to overseeing Reviver’s operations, Fabrice will spearhead the product, design and development of Reviver’s innovative rPlate, which recently hit the road in California. 
 

“It’s thrilling to join the team responsible for a fundamental shift in automobile design and connectivity – the rPlate brings change and innovation to a part of the car that has remained the same for 125 years, and will be a key component in a global ‘connected car’ eco-system,” said Fabrice. “Because Reviver worked in close collaboration with state DMVs and lawmakers while developing the rPlate, this technology is not only a reality, but also road-ready. I’m looking forward to working closely with the team as we develop the next generations of the rPlate.”

The rPlate transforms today’s license plate into a connected car platform that digitizes the costly, often frustrating and time-consuming DMV renewal process, while providing a highly adaptable telematics platform as well as a “5th screen” for localized messaging/advertising. The rPlate has approval from state legislators in California, Texas and Florida, and preliminary approval from Arizona’s Department of Transportation Motor Vehicle Division. Prototype rPlates are already operational in California, and Reviver plans to launch the rPlate in four states by the end of 2017. 

“Fabrice’s experience heading a team whose disruptive solutions reinvented photography and camera mobility - and brought it to the masses - will be invaluable as we continue to expand rPlates capabilities,” said Neville Boston, CEO and Founder of Reviver. “We are very excited to welcome him to our team as we positively disrupt automotive connectivity.”

During Fabrice’s six years leading the consumer products group, GoPro’s revenues increased from $65M to $1.6B. Prior to his tenure at GoPro, Fabrice spent for four years as Senior Director of Technology and Product Management at Flextronics, where he developed several new product line initiatives in display, computing, components and modules for mobile industries.

In addition to the roles he’s held in the US, Fabrice has significant international experience and a strong understanding of markets and operations outside the United States.

About Reviver
San Francisco-based Reviver’s mission is to bring new and far-reaching efficiencies, revolutionary marketing, and unprecedented connectivity to the auto industry through disruptive technology. With its recently launched rPlate™, the company has completely reinvented the 125-year-old stamped metal license plate into a connected car platform that digitizes and automates the costly, often frustrating and time-consuming DMV renewal process. Approved by multiple DMVs and DOTs, the rPlate also provides telematics functionality and brings a new level of personalization to existing license plates. For more information visit www.reviver.io.

Media Contact:

Cassandra Cavanah, mWEBB Communications, cassandra@mwebbcom.com or 818-397-4630

Pioneering auto technology leader Brian Boling returns as CEO to  lead company’s international automotive IoT strategy

Irvine, CA – May 23, 2017  - Procon Analytics, a global leader in connected car telematics, today announced the rollout of a progressive new platform that powers a new suite of connected car products and services. The highly scalable platform has been designed to connect both businesses and drivers to their vehicle assets throughout the entire ownership lifecycle – and is architected to deliver unparalleled business intelligence solutions to the global auto industry.

Procon Analytics’ leaders, Brian Boling, former CEO of Connected Holdings, and Bill Cheney, COO of Connected Holdings, developed and successfully incubated the platform for two years under Connected Holdings, an Intelligent Services Platform company established to provide IoT entrepreneurs with the finances and infrastructure to kick start their business ideas.

“I’m thrilled to be back leading Procon Analytics with Bill as the industry enters the next chapter in connected car telematics and next generation IoT solutions,” said Boling, CEO. “I look forward to working with the team to develop strategy and business intelligence solutions and services for the global auto industry – it’s an exciting homecoming for me.”  

The new suite of products and services joins Procon’s existing international connected car solutions and enables the company to deliver a more efficient, value-driven connected car and tracking process to US automotive retailers and lenders, while simultaneously innovating solution features, business intelligence, IoT and big data solutions for the global automotive industry.

Procon’s multi-national suite of products now includes:

• Procon Automotive, a dealer lifecycle management and customer retention solution platform serving new car auto dealers throughout North America.
• Elo GPS, a stolen vehicle recovery and driver monitoring mobile app sold through new car dealerships designed for consumers.
• MyCar, a mobile app allowing drivers to remotely start a vehicle from their smartphone and sold throughout North America.
• Oigo Telematics, a fleet management & vehicle recovery system supporting businesses in Latin America.

Automotive IoT is exploding – analysts forecast the connected car market will be worth nearly $155.9 billion globally in 2022[1] and that over 380 million[2] connected vehicles will be on the road as soon as 2021 (up from 36 million in 2015) – and Procon is poised to lead the way once again.

“Bringing this technology under the Procon Analytics portfolio enables us to deliver leading-edge features, applications and functionality to our customers, providing high value solutions to improve profitability. And, ultimately, our data analytics group will provide customers with business intelligence and insights based on the unique data Procon is able to mine within the connected car ecosystem,” said Bill Cheney, Procon Analytics’ CTO and Managing Director.

Boling, a trailblazer in automotive GPS, holds multiple IoT patents leveraging GPS technology. Boling’s earlier tenure at Procon, which he originally founded in 2003, saw the company deliver nearly 4 million connected automotive GPS tracking devices. A Procon spin off company, Spireon, was the first and only aftermarket automotive group in the USA to reach delivery of over 1 million devices per year. Today Spireon is the undisputed leader in risk mitigation solutions for the sub-prime industry in the USA and one of the fastest growing in transportation telematics.

A pioneer in automotive IoT, Cheney was a founder of Drive OK, one of the first companies in vehicle finance IoT. Previously, Cheney served as a senior executive in Qualcomm’s semiconductor and international investment divisions. Cheney specializes in operational processes and systems that are critical success factors to an IoT company’s ability to scale, sustain growth and deliver strong returns. His recent work in big data analytics focuses on new, exciting sources of growth and profitability.

About Procon Analytics
 

Procon Analytics, a global leader in automotive telematics, is dedicated to bringing better, more efficient, more value-driven connected car features, along with next-generation channel management processes, to US automotive retailers and lenders, while simultaneously innovating data, business intelligence and IoT solutions for the global automotive industry. Procon Analytics currently operates in the US, Canada and Latin America with a focus on creating big data solutions for the automotive industry.

For more, visit www.ProconAnalytics.com.

Gubagoo/ChatSmart presented with ‘Top Rated” award for Dealer Satisfaction in Chat Tools and Services Category

New Orleans, LA – January 27, 2017 – Gubagoo/ChatSmart is the recipient of a “Top Rated” Chat Tools and Services award in the eighth annual DrivingSales Dealer Satisfaction Awards. The awards, presented at a special event on January 27th in conjunction with the 2017 National Automobile Dealers Association (NADA) Convention & Expo, are based on DrivingSales Vendor Ratings, which comprise 35,000 validated user reviews.

 “We built ChatSmart to be the most advanced and comprehensive live chat tool available. Period. It doesn’t matter what device the customer is using, or what channel they’re on,” said Brad Title, CEO and Founder of Gubagoo.  “ChatSmart makes it simple and easy to connect, any way the customer wants, at any time.”

In addition to total availability across time and channels, ChatSmart connects with key customer points of interest. For example, the technology is integrated with dealer inventory – because that’s what customers want, and delivering it why ChatSmart converts. In fact, according to Gubagoo data, over 72% of chats are related to inventory. Combine that with ChatSmart’s robust video capability (another must-have consumer expectation), and chat becomes a powerful conversion tool no matter what the customer is doing – regardless of whether they’re on SMS, web or even Facebook Messenger.

“We congratulate Gubagoo on earning a “Top Rated” Chat Tools and Services Award for consistently contributing value to its dealership customers throughout 2016,” said DrivingSales CEO and Founder, Jared Hamilton. “DrivingSales Vendor Ratings help dealers make important, informed vendor decisions by providing peer reviews on solutions, leading them to outstanding service providers such as Gubagoo, with Chatsmart.” 

The DrivingSales Dealer Satisfaction Awards are based on cumulative ratings tallied and verified over the calendar year (January – December) at DrivingSales.com Vendor Ratings.  DrivingSales.com Vendor Ratings is the industry’s only neutral, comprehensive vendor rating forum featuring real-time peer reviews and honest competitor comparisons. The site provides dealerships with important information from actual customers who have hands-on experience using vendor products / solutions in their stores. Each rating is verified as coming from an actual dealership employee.

Full award results are available online at http://dealersatisfactionawards.com/. Award winners are showcased in the Q1 2017 issue of DrivingSales Buyers Guide which, in addition to being distributed at the 2017 NADA Convention and Expo, is delivered to every new car dealership nationwide, as well as to more than 2,000 of the top used car dealers in the U.S. The DrivingSales Buyers Guide represents over 1,000 automotive solutions and over 35,000 dealer reviews of those products from DrivingSales Vendor Ratings, identifying the solutions that have risen to the top. 

About Gubagoo

Based in Boca Raton, Gubagoo is the leading provider of dealer live chat, text, and call solutions. Gubagoo offers seamless integrated web-based, SMS, and call monitoring technologies for automotive dealerships. Our passion for customer service and lead conversion, makes Gubagoo the best 24/7 car dealer chat, text, and overflow call provider in the automotive industry. Gubagoo’s U.S. based operators, receive the highest level of training and certification to make certain every customer that engages in a live chat, text, or call, receives the best possible customer experience. Gubagoo delivers the best quality of service to automotive dealership customers and strives to maximize the dealership’s lead conversion rate and long-term auto sales. For more information about Gubagoo products, visit www.gubagoo.com or contact 855-359-2573.

About DrivingSales

DrivingSales serves automotive retailers with an integrated suite of technology, knowledge, community and performance insight designed to advance the success of retail professionals and their dealerships. Founded by a third-generation car dealer in 2008, today DrivingSales is utilized by two-thirds of franchised dealerships in North America as a resource to improve their business performance. To learn more about the DrivingSales community, news, dealer education or performance analytics visit DrivingSales.com.

DrivingSales Media Relations:

Madeleine Low (maddy.low@drivingsales.com), DrivingSales, 866.943.8371

Round Co-Led by WRV and ACK Group; BOD to include John W. Thompson, chairman of Microsoft, and Nicholas Brathwaite, Managing Partner of WRV

San Francisco, CA - January 26, 2017 – Reviver, creator of the rPlate™, the world’s first digital license plate, has secured $6.8 million during a Series A round. The funding round was co-led by WRV and Australian-based ACK Group.

Reviver, which was founded in 2009, recently announced that it has brought the vehicle license plate, a piece of hardware that has not evolved for 125 years, into the 21st century by transforming it into an innovative, multi-functional digital display. The rPlate is set to launch in some of the nation’s largest car markets, having gained approvals from the DMV and state legislators in California and Florida, with legislation currently in progress in Texas. 

“This investment will help fund the expansion of our engineering team which will allow us to accelerate the development of the next generation rPlate,” said Neville Boston, CEO and Founder of Reviver. “As a result of our successful collaboration with the California DMV, Governor’s Office, State Legislature, CHP and the California Department of Transportation, the rPlate is ready to roll to assist large fleet operators in tracking and managing their vehicles, including automating DMV registrations and providing a platform for the wireless payment of road tolls, parking and even gasoline.”

Boston additionally noted that Reviver will also use the funding to further expand distribution of rPlate into other U.S. states and to explore international opportunities. 

Reviver also announced today that its Board of Directors will include:

• Nicholas Brathwaite, Co-founder of Riverwood Capital and Managing Partner of WRV
• Andrew Iorgulescu, President of Appraisal Lane
• Ernst Lieb, former CEO and President of Mercedes Benz USA, Canada and Australia
• Simon Szewach, Managing Partner at ACK Group
• John W. Thompson, former Chairman and CEO Symantec, Chairman of Microsoft

“Reviver’s unique combination of technical innovation, direct collaboration with government and transportation agencies and preliminary discussions with automotive manufacturer design teams makes it uniquely positioned to lead today’s evolving connected car ecosystem,” said Simon Szewach, Managing Partner at ACK Group.

“Governments around the world are implementing initiatives to improve efficiencies and productivity. Reviver's hardware and software platform will allow departments of motor vehicles and their large commercial customers to improve efficiencies, reduce costs, increase flexibility and expand services,” said Nicholas Brathwaite, Managing Partner of WRV.

John W. Thompson, who also participated in early seed funding commented, “Watching the Reviver team develop and deploy the first rPlates is extremely exciting – I’m thrilled to play a small role in bringing this positive – and much needed – change to the automotive industry.”

About Reviver

San Francisco-based ReviverMx, Inc. was founded in 2009 with a mission to establish a universal connected car innovation platform – a mission made possible by reviving legacy automotive solutions and making them fully interactive, robust and connected to a universal store of digital applications. The company’s innovative, multi-functional digital license plate, the rPlate™, will be on the road in California, Florida and Texas in 2017. Its cloud-based app development platform, the rStore, will be open to 3rd party developers in the second half of 2017. For more information visit www.reviver.io.

Media Contacts:

Melanie Webber, mWEBB Communications, melanie@mwebbcom.com or 949-307-1723

Cassandra Cavanah, mWEBB Communications, cassandra@mwebbcom.com or 818-397-4630

Edmark is one of the highest volume selling dealerships in Idaho for past three years

Irvine, CA, January 17, 2017 – Kerrigan Advisors, the leading sell-side advisory firm to auto dealers in the US, represented and advised Edmark Superstore, one of Idaho's highest volume selling dealerships, in its sale to Kendall Auto Group.  The Edmark Superstore is co-owned by David Edmark and Jim Chalfant.  Edmark Superstore’s franchises include Chevrolet, Cadillac, Buick, GMC and Kia.  With this acquisition, Kendall Auto Group will now own 38 dealerships in Oregon, Alaska and Idaho.

“We are confident that Kendall will continue the standards of quality and customer service that has been a hallmark of Edmark’s business since its founding.” said David Edmark. “We are grateful to Kerrigan Advisors for identifying Kendall as the best buyer of our stores.”

“Kerrigan Advisors smoothly guided us to this very successful outcome, offering just the right combination of expertise, responsiveness and client service to shepherd the process to its optimal conclusion,” said Jim Chalfant. “We appreciated having Kerrigan Advisors by our side throughout the sale.”

Kerrigan Advisors, headed by Erin and Ryan Kerrigan, has now represented on the sale of 43 dealerships since July 2015, making it the most active sell-side advisor in the auto retail industry.  The firm has also represented three of the top 100 dealership groups in the last 12 months.  

“We are proud to have had a role in this successful transaction, which marks our 43rd dealership sale in the past 18 months,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “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,” continued Ryan Kerrigan, Managing Director of Kerrigan Advisors. “The Edmark Superstore/Kendall Auto Group transaction is another example of the fulfillment of our core goals,” said Erin Kerrigan.

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 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 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.   For a recent video of Erin’s commentary on the market, click here.

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.

About Kerrigan Advisors

Kerrigan Advisors is a national dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers. Led by a team of veteran advisors who have represented transactions totaling over $2.5 billion dollars in automotive, private equity and investment banking, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.

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.  Her expertise is also featured in a monthly column for Dealer Magazine. 

Kerrigan Advisors Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 424.603.4340

.

Reviver reinvents the 125-year-old metal plate as an Internet of Things, connected car platform; rPlate™ hits the road in California, Florida, Arizona and Texas in 2017, other states to follow

Detroit, MI - January 9, 2017 – The first-ever, interactive digital license plate debuts today at the North American International Auto Show (NAIAS) in Detroit during Automobili-D, a new event showcasing connected car technology. Created by Reviver, the rPlate™ modernizes the 125-year-old license plate, bringing it into the 21st century by transforming it into an innovative, multi-functional digital display and offering a major aesthetic and design upgrade for the only part of the vehicle that has remained unchanged since the automobile debuted. This smart device is an Internet of Things (IoT) platform that offers unlimited opportunities for applications, including DMV registration automation, hyper-local messaging, telematics and vehicle management.

In addition to developing the technology and platform behind rPlate, Reviver has numerous patents pending/obtained, the approval of state legislators in California and Florida, preliminary approval from Arizona’s DMV and Department of Transportation, and legislation in progress in Texas. Prototype rPlates are already operational in California, and Reviver plans to launch the rPlate in all four states by the end of 2017. 

“Our team has been working to modernize the antiquated 125-year-old stamped metal license plate for more than seven years – including four years of successful collaboration with the California DMV, Governor’s Office, State Legislature, CHP and the California Department of Transportation, an effort that has paved the way for approvals in other states,” said Neville Boston, CEO and Founder of Reviver.

“The rPlate opens up the ‘connected car’ ecosystem to a myriad of solutions – some of which are already in development and many that have yet to be imagined,” continued Boston. “In addition to automating the costly DMV registration process and providing telematics and fleet management capabilities, the rPlate immediately unlocks a powerful new channel for OEMs, dealerships, and organizations, to reach and service customers in hyper-local and targeted ways.”

"The rPlate is the first ever 'fifth screen' or digital signage platform to grace the back of a vehicle and can be installed as an aftermarket product or seamlessly integrated directly into the design of the vehicle," said Allan Cooper, Partner, Reviver. "It can display hyper-local targeted messages to a captive audience when a vehicle is legally parked in any location.

“One example is the opportunity for auto retailers to use the rPlate to display customized messaging - such as the brand they sell, a lease payment specific to vehicle models, or a sponsored community event or charity on service loaner vehicles and company vehicles," continued Cooper. 

Messages on the rPlate can dynamically change based on geolocation configuration, in and out of a dealership’s PMA (Prime Marketing Area). Reviver has also incorporated programming for emergency broadcasts like extreme weather warnings and Amber Alerts, as well as VIN-specific recall notifications, into its digital display. The rPlate can also automate the payment of toll road charges, parking fees and much more.

The rPlate houses a GPS, accelerometer, RF sensors, CAN bus access, storage and is built to withstand all weather and extreme conditions. The rPlate’s 6” x 12” display is the same size as a standard state license plate and its anti-reflective screen is legible in all weather conditions.

Reviver also unveiled the rStore today, a cloud-based app development platform that will host apps designed to maximize the functionality of fully connected vehicles. The rStore will offer an open platform for 3rd party development of apps.

The rPlate will be on display in booth #11 at The Detroit Show’s Automobili-D showcase.

About Reviver

San Francisco-based Reviver was founded in 2009 with a mission to establish a universal connected car innovation platform – a mission made possible by reviving legacy automotive solutions and making them fully interactive, robust and connected to a universal store of digital applications. The company’s innovative, multi-functional digital license plate, the rPlate, will be on the road in California, Florida, Arizona and Texas in 2017. Its cloud-based app development platform, the rStore, will be open to 3rd party developers in the second half of 2017. For more information visit www.reviver.io.

Media Contacts:

Elizabeth Johnson, mWEBB Communications, elizabeth@mwebbcom.com or 213-713-4865

Melanie Webber, mWEBB Communications, melanie@mwebbcom.com or 949-307-1723

Cassandra Cavanah, mWEBB Communications, Cassandra@mwebbcom.com or 818-397-4630

Dealership M&A Activity Declines in Third Quarter; 2017 Increases Likely, according to The Blue Sky Report™ released by Kerrigan Advisors

Pace of acquisitions slow for balance of 2016; incoming Trump administration motivating sellers to push closings to 2017, while more foreign investment anticipated next year

Irvine, CA, November 22, 2016 – Dealership M&A activity declined by 7% in the first nine months of 2016 YOY, with sellers likely to push closings to 2017 in anticipation of potential tax benefits from the incoming Trump administration, according to analysis from the Blue Sky Report™, a Kerrigan Quarterly, which was released today.  Overall, premium pricing declined in the first nine months of the year, but buy/sell activity remained strong with a 32% increase in the number of multi-dealership groups selling in the first nine months of 2016.

Today’s Blue Sky Report, published by Kerrigan Advisors, is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership mergers and acquisition activity and franchise values. It includes analysis of the first nine months of 2016 - laying out the high, average and low blue sky multiples for each franchise in the luxury and non-luxury segments for the quarter - and offers a detailed view of public and private company dealership acquisition activity.  

Key data and analysis from the report includes:

• 172 dealership buy/sell transactions completed in the first 9 months of 2016[1] versus 184 transactions in the first 9 months of 2015. 
• Buy/sell activity declined slightly in the 2nd and 3nd quarter, resulting in a 7% decline year-to-date. 
• Pace of acquisition activity is not likely to increase in balance of 2016.
• Transaction sizes are rising and multi-dealership groups are coming to market at an increasing pace. 
• For the third quarter of 2016, Kerrigan Advisors’ average blue sky multiples remained relatively stable.
• While premium pricing of auto dealerships is on the decline, most buyers are willing to acquire dealerships within Kerrigan Advisors blue sky multiples. 
• The auto retail markets made a dramatic shift to high margin trucks and SUVs, driven by low gas prices. 

“Buy/Sell activity remains strong but, with the expectation of a tax reduction from the Trump Administration, 4thquarter activity could decline as sellers hope for a more favorable tax rate on their sales proceeds in 2017,” said Erin Kerrigan, Managing Director of Kerrigan Advisors.

The report identifies three key trends moving forward into 2017:

• Auto retail’s hedged business model sustains dealership profitability.
• Economies of scale and scope drive consolidation.
• Foreign interest in US auto retail rises.

“A trend we are watching closely for 2017 is the entry of foreign investors into the market,” continued Kerrigan.  “Because international companies are attracted to the franchise protections afforded to US auto dealerships and are seeking geographic diversification beyond their borders, we expect foreign investors to make their mark on 2017 with at least one or two completing sizable acquisitions.”

Kerrigan Advisors is deeply involved in the Buy/Sell Market having sold two of the top 100 dealership groups, Sam Swope Auto Group and the Carbone Auto Group, in the last 12 months and is currently engaged to sell two additional top 100 groups.  Kerrigan Advisors extensive experience representing the largest dealership groups in the country provides the firm with a unique perspective on the trends shaping the industry and today’s franchise values. 

The Blue Sky Report™, a Kerrigan Quarterly, is published four times a year and includes Kerrigan Advisor’s signature blue sky charts, multiples and analysis for each franchise in the luxury and non-luxury segments. The multiples are based on Kerrigan Advisors’ view of franchise values in the current buy/sell market and can be applied to adjusted pre-tax dealership earnings to estimate blue sky value. To download the report, click here.

Kerrigan Advisors also releases a monthly index, The KAR Index, composed of the seven publicly traded auto retail companies with operations focused on the US market.  The KAR Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access the KAR Index™, click here.

Erin Kerrigan (www.kerriganadvisors.com/meet-the-team-2/) is 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.   

About Kerrigan Advisors

Kerrigan Advisors is a national dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers. Led by a team of veteran advisors who have represented transactions totaling over $2 billion dollars in automotive, private equity and investment banking, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.

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, who authors the report, 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.  Her expertise is also featured in a monthly column for Dealer Magazine. 

Kerrigan Advisors Media Contact:

Cassandra Cavanah (cassandra@mwebbcom.com), mWEBB Communications, 818.397.4630
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 424.603.4340

New patent covers “demand/price driver” engine that powers pricing and features analysis found in CarStory Market Reports; data provides dealers with in-demand selling points for every used vehicle on their lot and gives car buyers insights to make better, more informed decisions

Austin, Texas – October 18, 2016 – CarStory, the industry’s largest provider of search and inventory data and analytics on used vehicles, today announced that a technology powering its Market Reports has been awarded a U.S. Patent No. 9,465,873. This is the second patent awarded in two years time for a technology utilized by CarStory Market Reports. To date, the Reports have been adopted by over six thousand auto dealers nationwide to help consumers understand a vehicle’s whole ‘story’ through comprehensive, real-time, hyper-local data. CarStory delivers 15,000,000 Market Reports each month to consumers around the country.

The patent, titled Systems, Methods and Devices for Identifying and Presenting Identifications of Significant Attributes of Unique Items, was awarded to Vast.com Inc., which uses the technology to power its CarStory Market Reports. The technology automatically determines which aspects of a used vehicle search are most significant to consumers and then identifies the top 3 or 4 features that are the unique price drivers for that vehicle, presenting them in an easily digestible format to enable consumers to make more confident purchasing decisions.

Vast.com Inc.’s most recent previous patent was issued in December 2015 for its “similarities engine” which automatically generates relevant and ‘like’ vehicle recommendations through the CarStory Market Reports to car buyers, helping facilitate a better, more informed car selling/buying experience.

“Vast’s newest patent validates the power of the technology behind CarStory Market Reports. Because used vehicle price drivers differ dramatically from those that influence pricing when a vehicle is brand new, unique technology is required to help illuminate and quantify nuances for both dealers and consumers alike,” said Dr. David Franke, Chief Data Scientist at Vast.com and co-inventor of the patent.

For example, a trim line that adds value to a car when it is new may not play the same, positive role in the vehicle’s price after a few years of wear and tear – leather seats may age poorly or GPS technology may be outdated.

“It is this real time, preference-based, nuanced vehicle intelligence that has been awarded in the patent and is the reason CarStory Market Reports have been so widely adopted,” said Franke. “Our ‘demand/price driver engine’ improves the used car buying process by highlighting the handful of vehicle attributes that consumers are most interested in – even down to regional and local levels.”

By embedding important vehicle research directly in the Vehicle Detail Page (VDP), CarStory Market Reports encourage consumers to stay and engage on dealership websites, rather than clicking off to find information on third-party research sites. The Reports’ robust and unique information is based on insights generated from a combination of real-time used vehicle listings and data from over eight million used car searches each week. The patented technology highlights the unique attributes and features that drive price, whether it’s bluetooth, roof rack or heated seats.

“CarStory Market Reports really help educate our sales team about which features are most important to our used car shoppers, and, because they are so engaging and informative, the reports have increased our online lead conversion,” said Tom White Jr., General Manager of Subaru of Wichita.

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About CarStory

CarStory is a service that matches used car shoppers with the right car. Using patented technology and an industry-leading dataset, CarStory facilitates an efficient, effective discovery process resulting in a confident purchase decision. With a network of over 6,000 participating dealerships nationwide, CarStory’s available inventory and user-data is the largest, and most accurate in the industry. Discover your new used car and drive happily ever after at: www.carstory.com.

About Vast 

Vast is a big data-as-service platform that provides consumer experiences —powered by data and analytics — for big purchases in automotive and real estate. Founded in 2005, Vast is the premier provider of big data solutions for many of the Global 1000’s largest automotive and real estate businesses. Learn more at Vast.com.

Media Relations: 

Melanie Webber, mWEBB Communications (949) 307-1723, melanie@mwebbcom.com 

Vast executives to share insights on how a shift in fundamental marketing strategies can lead to increased used vehicle sales for car dealers

Austin, Texas – June 22, 2016 – Vast announced today that two of its executives from its CarStory® product team will be sharing insights into how dealerships can improve marketing strategies to make stronger connections with today’s used car shoppers, presenting data on the importance of appealing to customer’s needs versus stereotypical demographics.

The presentations are based on a month-long survey carried out by Vast’s Research Department that sought to better understand the needs of today’s used car “buyer personas.” Vast connects buyers and sellers of cars and homes through data-driven discovery experiences. CarStory.com, Vast’s vehicle discover site and app, utilizes the Vast data platform to understand consumer intent and match each shopper with the right vehicle.

Women in Automotive, Orlando, FL

Stefania Mereu, VP of Research for Vast, will speak at this month’s Women in Automotive in Orlando, Fl (June 26-28). Mereu’s session, entitled “The Doctor is In: Prescribing Marketing Plans to 3 Women Personas” takes place Tuesday, June 28th from 10:25-11:10, and will shatter stereotypes while helping marketers understand the importance of marketing to personas versus simple demographics. Mereu holds a Ph.D. in Cognitive Psychology and strongly believes data should overrule gut instinct. She has developed products and insights for Vast that increased product conversions by 700%.

Digital Dealer 21, Las Vegas, NV

Ryan Leslie, VP, CarStory Strategic Partnerships, will take on a similar theme at Digital Dealer 21 in Las Vegas (August 8-10) in his session entitled: “Overcoming Consumer Information Overload – Using ‘Big Data’ to Cut Through the Noise of Information and Unlock the Paradox of Choice.” At CarStory, Leslie is focused on helping dealers capitalize on their marketing opportunity through differentiation.

About Vast 

Vast is a big data-as-service platform that provides consumer experiences —powered by data and analytics — for big purchases in automotive and real estate. Founded in 2005, Vast is the premier provider of big data solutions for many of the Global 1000’s largest automotive and real estate businesses. Learn more at Vast.com.

About CarStory

CarStory is a service that matches used car shoppers with the right car. Using patented technology and an industry-leading dataset, CarStory facilitates an efficient, effective discovery process resulting in a confident purchase decision. With a network of over 6,000 participating dealerships nationwide, CarStory’s available inventory and user-data is the largest, and most accurate in the industry. Discover your new used car and drive happily ever after at: www.carstory.com.

Media Relations: 

Melanie Webber, mWEBB Communications, 949)307-1723, melanie@mwebbcom.com 

Cassandra Cavanah, mWEBB Communications, 818) 397-4630, cassandra@mwebbcom.com