MD Johnson, Inc. Advises the Estate of William E. McIntosh Jr. on the Sale of Kirkland Chrysler-Jeep, Inc.

KIRKLAND, Wash., Aug. 6 /PRNewswire/ -- MD Johnson, Inc. announces thecompletion of the sale of "Kirkland Chrysler Jeep" and all real estateassociated with the dealership to multi-store dealership operator GregRairdon. The dealership has been renamed "Rairdon's Chrysler Jeep ofKirkland". Kirkland Chrysler-Jeep, Inc., the corporation that owned thedealership, was wholly owned by the estate of William E. McIntosh Jr.McIntosh, known to most as "Mac", passed away unexpectedly in 2002.McIntosh was a well known and highly regarded automobile dealer in Seattle.McIntosh formerly owned North Seattle Chrysler Jeep and was a formerChrysler Corporation employee. McIntosh is survived by his wife Helen andfive children. Two of McIntosh's sons, Blair and Brian McIntosh, operatedthe dealership after their father's death. MD Johnson, Inc. was engaged to advise the estate on valuing theestate's dealership assets and to develop a strategic long-term plan, whileadvising the co-personal representatives of the estate, Brian and BlairMcIntosh with regard to the same valuation and business possibilities. MarkJohnson commented that "Blair and Brian are very well known and respectedin the community and have chosen to pursue other interests." Johnsonfurther commented that "the estate has chosen to consolidate its assets asthe members make choices outside of owning a Chrysler Dealership." Theestate, through a separate entity with differing ownership than thedealership, also owned the real estate. "Given the skyrocketing value ofreal estate in Kirkland, it was hard to justify retaining the real estateasset" Johnson stated. Johnson also said that "given the enormous pressurefrom Chrysler for its dealers to consolidate and upgrade facilities as wellas the unknown outcome of the sale of Chrysler by Daimler, it was time forthe family to take some of the chips off the table. The McIntosh family hasa long reputation of providing great customer service. I see both Blair andBrian back in the car business in the near future." Rairdon, who also owns three other Chrysler product dealership'scommented that "the addition of this fourth dealership in the greater northPuget Sound market will allow us to continue building our brand and allowus to benefit from the process we have developed in our other Chryslerdealerships. Rairdon owns dealerships in Bellingham, Arlington, Monroe andnow Kirkland. Rairdon commented that "given the complexity of purchasing adealership in an estate, Johnson's firm was the essential catalyst incompleting the transaction." Laura Weselmann and Mario Pariso of the law firm of Harlowe & Falk LLPwere legal advisors to Kirkland Chrysler-Jeep, Inc and James W Aiken ofAiken Fine LLP was legal advisor to Rairdon. Compliance and tax counsel tothe parties were Kevin Allison and Brian Kennett of Peterson Sullivan,CPA's and Bob Deering of Pomares Co., CPA's. MD Johnson, Inc. is a mergers/acquisitions financial advisory firmspecializing in Advisory Services to automobile dealers, dealershipmanagement companies and dealership lawyers and CPA's. In addition tostandard M and A services, the firm provides detailed Valuation,Succession, Strategic Planning and Transaction Management Services for itsclients. The firm's clients include public and private groups andindividual owners located throughout the US. Previous press releases arearchived at http://www.mdjohnsoninc.com