Lithia Motors

Lithia Motors Announces the Addition of $1.4 billion in Revenues from the Keyes Automotive Group in Southwest Region

Retrieved on: 
Tuesday, November 10, 2020

Keyes Automotive is among the largest and most successful dealer groups in the country with 21,600 new vehicles and 10,350 used units sold in 2019.

Key Points: 
  • Keyes Automotive is among the largest and most successful dealer groups in the country with 21,600 new vehicles and 10,350 used units sold in 2019.
  • Lithia has the broadest coast-to-coast automotive retail network in the nation, reaching over 92% of the United States.
  • Lithia Motors financed this transaction using capital recently raised in concurrent equity and debt offerings that closed in early October.
  • We are delighted to welcome this exceptional group to the Lithia Motors team and look forward to tremendous success together in the coming years.

Kerrigan Advisors Represents Keyes Automotive Group in Sale to Lithia Motors

Retrieved on: 
Tuesday, November 10, 2020

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Los Angeles-based Keyes Automotive Group on its recent sale of nine dealerships to Lithia Motors, Inc. (NYSE: LAD).

Key Points: 
  • Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Los Angeles-based Keyes Automotive Group on its recent sale of nine dealerships to Lithia Motors, Inc. (NYSE: LAD).
  • The sale of Keyes Automotive Groups nine dealerships is the seventh Top 150 Dealership Group Kerrigan Advisors has sold in the last five years.
  • We are honored to have represented Keyes, one of the most well-respected dealership groups in the country, in its sale to Lithia Motors, said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
  • Keyes Automotive Group was founded by Howard Keyes father, Jerry Keyes, in 1950 in Van Nuys, California and has since grown to become a top 20 dealership group in the US, according to Automotive News.

Lithia Motors CFO Recognized as a Leading Woman in the Auto Industry

Retrieved on: 
Monday, November 9, 2020

Tina Miller, Senior Vice President, Chief Financial Officer of Lithia Motors, Inc. (NYSE: LAD) has been named to the 2020 list of Leading Women in the North American Auto Industry by Automotive News.

Key Points: 
  • Tina Miller, Senior Vice President, Chief Financial Officer of Lithia Motors, Inc. (NYSE: LAD) has been named to the 2020 list of Leading Women in the North American Auto Industry by Automotive News.
  • Every five years, Automotive News compiles the list of 100 Leading Women in the North American Auto Industry, recognizing top female executives at automakers, suppliers, dealerships, and vendors.
  • Her unique perspectives and experiences bring diverse insights to our strategy and our mission of Growth powered by people.
  • In addition to her honor as a leading female auto executive, Miller will also participate on a panel at the Automotive News Leading Women virtual conference.

Lithia Motors Adds Another $55 Million in Revenue to Growing Network

Retrieved on: 
Tuesday, October 6, 2020

We are pleased to add Latham Ford to the Lithia Family, further strengthening our ability to serve our communities in the Northeastern United States, said Bryan DeBoer, Lithia Motors President and CEO.

Key Points: 
  • We are pleased to add Latham Ford to the Lithia Family, further strengthening our ability to serve our communities in the Northeastern United States, said Bryan DeBoer, Lithia Motors President and CEO.
  • Latham Ford is expected to add $55 million in annualized revenue, bringing Lithia's total network expansion to over $1.75 billion in revenue thus far in 2020.
  • Lithia has built the broadest coast-to-coast automotive retail network, reaching over 92% of the United States and creating the fulfillment foundation of its omni-channel offerings.
  • Lithia Motors continues to pragmatically and profitably modernize the industry through its mission of Growth Powered by People.

Lithia Announces Pricing of Public Offering of Common Stock

Retrieved on: 
Thursday, October 1, 2020

Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of its public offering (the Offering) of 3,181,819 shares of its Class A common stock (the common stock) at a price to the public of $220.00 per share.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of its public offering (the Offering) of 3,181,819 shares of its Class A common stock (the common stock) at a price to the public of $220.00 per share.
  • In addition, the underwriters have been granted a 30-day option to purchase up to an additional 477,272 shares of common stock at the same public offering price, less underwriting discounts and commissions.
  • In addition, today Lithia concurrently announced the pricing of its private offering of $550 million aggregate principal amount of its 4.375% senior notes due 2031 (the Notes), which represents an increase of $50 million from the offering size previously announced.
  • Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint lead book-running managers for the Offering.

Lithia Announces Upsizing and Pricing of Senior Notes Offering

Retrieved on: 
Thursday, October 1, 2020

Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of $550 million in aggregate principal amount of its 4.375% senior notes due 2031 (the "Notes") in a private offering (the "Private Offering"), which represents an increase of $50 million from the offering size previously announced.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of $550 million in aggregate principal amount of its 4.375% senior notes due 2031 (the "Notes") in a private offering (the "Private Offering"), which represents an increase of $50 million from the offering size previously announced.
  • Lithia intends to use the net proceeds of the Private Offering for general corporate purposes, which may include financing possible acquisitions, repaying or refinancing debt, working capital and capital expenditures.
  • The Private Offering is exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act).
  • Examples of forward-looking statements in this press release include, among others, statements regarding the Private Offering and our concurrent public offering of common stock.

Lithia Announces Proposed Public Offering of Common Stock

Retrieved on: 
Tuesday, September 29, 2020

Lithia Motors, Inc. (NYSE: LAD) today announced that we intend to offer, subject to market and other conditions, $700 million of shares of our Class A common stock (the common stock) in a public offering (the Offering).

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today announced that we intend to offer, subject to market and other conditions, $700 million of shares of our Class A common stock (the common stock) in a public offering (the Offering).
  • In addition, we intend to grant the underwriters a 30-day option to purchase up to an additional $105 million of shares of common stock.
  • A shelf registration statement relating to our common stock has been filed with the Securities and Exchange Commission (the SEC) and became automatically effective upon filing.
  • Examples of forward-looking statements in this press release include, among others, statements regarding the Offering and our concurrent private offering of the Notes.

Lithia Motors Reports Preliminary Third Quarter 2020 Results

Retrieved on: 
Tuesday, September 29, 2020

Lithia Motors, Inc. (NYSE: LAD) today reported preliminary financial results for the three months ending September 30, 2020.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today reported preliminary financial results for the three months ending September 30, 2020.
  • In addition, these preliminary unaudited results are not comprehensive financial results for the quarter ending September 30, 2020, should not be viewed as a substitute for complete GAAP financial statements or more comprehensive financial information, and are not indicative of the results for any future period.
  • Lithia Motors, Inc. is a growth company powered by people and innovation with a 5-year plan to profitably consolidate the largest retail sector in our country.
  • Examples of forward-looking statements in this press release include, among others, statements regarding our expected financial results for third quarter 2020.

Lithia Motors Enters Tennessee Market Expanding Reach in the Southeast Region

Retrieved on: 
Tuesday, September 22, 2020

Lithia Motors, Inc. (NYSE: LAD) announced today the purchase of Jim Cogdill CJDR in Knoxville, Tennessee.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) announced today the purchase of Jim Cogdill CJDR in Knoxville, Tennessee.
  • We are excited to share that we have expanded our southeastern regional presence by entering the Tennessee market, serving Knoxville and neighboring communities, said Bryan DeBoer, Lithia Motors President and CEO.
  • Together, with our Driveway digital home channel, we are providing flexible and complete vehicle ownership solutions wherever, whenever and however consumers desire.
  • Lithia Motors continues to pragmatically and profitably modernize the industry through its mission of Growth Powered by People.

The Presidio Group Advises on the Sale of John Eagle Dealerships in Houston Area

Retrieved on: 
Tuesday, September 1, 2020

The Presidio Group LLC (Presidio), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised John Eagle Dealerships on the sale of Honda Cars of Katy, Honda of Clear Lake, John Eagle Acura, John Eagle Honda Houston, Clearlake Infiniti and Southwest Infiniti to Lithia Motors, Inc. (NYSE: LAD).

Key Points: 
  • The Presidio Group LLC (Presidio), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised John Eagle Dealerships on the sale of Honda Cars of Katy, Honda of Clear Lake, John Eagle Acura, John Eagle Honda Houston, Clearlake Infiniti and Southwest Infiniti to Lithia Motors, Inc. (NYSE: LAD).
  • We are pleased that Lithia acquired our Houston area stores, said John Eagle, CEO of John Eagle Dealerships.
  • It was an honor to work with Lithia on this transaction, said Rene Isip, President and Chief Operating Officer of John Eagle Dealerships.
  • The Presidio Group provided exclusive M&A advisory services to John Eagle Dealerships through its wholly owned investment bank, Presidio Merchant Partners LLC.