Transaction highlights the strategic value of high-volume retail stores in Arizona’s fastest growing market; marks Kerrigan Advisors’ 290th and 291st dealerships sold.
Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Lamb Auto Sales in the sale of its Chevrolet Cadillac and Nissan dealerships in Prescott, Arizona to Casa Auto Group. Marking its entry into the Arizona market, Casa Auto Group, founded by the Lowenfield family, operates 12 dealerships across Texas and New Mexico and is ranked 134th on the Automotive News’ 2024 Top 150 Dealership Groups list. The sale represents Kerrigan Advisors’ seventh and eighth dealerships sold in Arizona, and its 290th and 291st dealerships sold since the firm’s inception.
Lamb Auto Sales was founded in 1957 when Theo Lamb acquired a Chevrolet, Oldsmobile and Cadillac dealership in Prescott. Ten years later, his son, Ted Lamb joined the family business by purchasing half of the dealership from his father. The Lamb family grew the business over the years by acquiring the Nissan franchise in 1996, eventually becoming two separate dealerships, Lamb Chevrolet Cadillac and Lamb Nissan on Prescott Lakes Parkway, and solidifying the group’s strong presence in Prescott and the Tri-City area. With this sale, Ted Lamb is retiring after four decades. He and his wife, Sherene are looking forward to retirement and enjoying life.
“Kerrigan Advisors did a fantastic job in guiding us through the sale and finding a buyer who shares our family values and commitment to the community, with a track record that will ensure the dealerships’ continued success,” said CEO Ted Lamb. “After more than 60 years in business, we are pleased to be able to pass the torch to the Lowenfield family who, I have no doubt, will uphold our legacy with integrity. Thank you to Gabe Robleto and the entire Kerrigan team for the professionalism, thoughtfulness, and deep knowledge they provided throughout this sale process. We could not have done this without them!”
“We were honored to represent the Lamb family in this once-in-a-generation transaction,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “Buyers are increasingly drawn to markets that offer business-friendly environments with strong population growth, such as Arizona, and we see a growing willingness by buyers to enter new markets like Arizona with high-quality franchises. The Lamb dealerships, and their location in Prescott, the fastest-growing metro area in Arizona, checked all those boxes, resulting in tremendous buyer demand for these stores.”
Prescott, located just 80 miles north of Phoenix, is Arizona’s third-largest metropolitan area. As part of the Arizona Sun Corridor – a top 10 US megaregion projected to reach 10 million residents by 2050 – Prescott’s population is expanding 139% faster than Phoenix and 323% faster than Tucson since 2019 and has a retail sales per capita that is 1.9x and 1.7x the US and Phoenix averages, respectively.
Chevrolet and Cadillac continue to be standout domestic brands, earning industry recognition for both vehicle quality and sales performance. In 2024, J.D. Power ranked Chevrolet #2 overall and #1 among domestic brands in its US Initial Quality Study, scoring 20% higher than its domestic peers. Chevrolet’s practical, dealer-friendly approach to facility upgrades and EV requirements has also earned it strong marks in dealer relations, reflected in the 2024 Kerrigan Dealer Survey, where Chevrolet was named the #1 non-luxury domestic brand for valuation growth. Nissan is also gaining momentum, with US light vehicle sales up 6.3% year-to-date through March 2025, ahead of the industry average of 4.4%. With a revitalized product lineup and increasing consumer demand, Nissan is poised for a transformative year.
All three brands are well situated in Arizona, which ranks as the second-highest average dealership revenue in the US, and #1 in the West. Arizona’s business-friendly climate and strong economic indicators make it a highly sought after market by dealership buyers. According to CNBC and U.S. News & World Report, the state ranks in the top five nationally for infrastructure, health care quality, and overall economy—further enhancing its appeal as a growth market for automotive retailers.
“We were thankful for the opportunity to represent the Lamb family and their outstanding legacy,” said Gabe Robleto, Senior Vice President, Sell-Side Advisory at Kerrigan Advisors. “Arizona is familiar territory for Kerrigan Advisors, a market where we have consistently delivered strong outcomes for our sell-side clients. Kerrigan Advisors’ deep background and on-the-ground experience with Arizona’s local market dynamics meant a smooth navigation to the completion of this transaction. We wish all the best for both the Lambs and the Lowenfields in this new chapter for their families.”
Darrell Davis and James Wright of Clark Hill served as legal counsel to the seller. Gene Wolf and Eddie Moreno of Kemp Smith served as legal counsel to the buyer.
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