8:37 am, May 5, 2015
THE Arrow Hyundai businesses in Swansea and Bridgend have been sold to Hutchings Motor Group.
It has not been revealed how much Hutchings – which already represents Hyundai and Vauxhall in Pontypridd near Cardiff – paid for the two businesses.
Hutchings has retained all staff.
John Hutchings, chairman of Hutchings Motor Group said: ‘We are extremely pleased to have increased our Hyundai representation across the south Wales-M4 corridor, after operating our existing Hyundai dealership in Treforest since 2012. The acquisition fits very well with our long-term strategy and we are looking forward to welcoming our new colleagues into the business.’
David Kendrick, Partner at UHY Hacker Young which assisted in the acquisition, said: ‘This purchase by Hutchings gives them some real scale with Hyundai in that market area. The Arrow business has been established for a number of years and I have no doubt John and his son Stephen will continue to grow the businesses further.
‘We have been extremely busy in recent weeks and it was a pleasure advising the shareholders of Arrow Automotive on this transaction.’
Kendrick believes the present surge in activity in the market shows no signs of abating.
‘I believe we will continue to see more and more transactional activity and this deal highlights the fact that some family businesses feel they should be expanding and acquiring market areas to protect themselves and benefit from additional scale,’ he said.
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