9:28 am, July 7, 2021
Family-owned dealer D.M. Keith has announced its acquisition of Ringways Motor Group.
The deal sees Ford and Kia franchises join D.M. Keith’s business, taking its representation up to six brands in total, with 13 showrooms across 10 sites in Yorkshire and Lincolnshire.
D.M. Keith says all Ringways staff have transferred across and takes its employee headcount up from 290 to 445.
Dougal Keith, managing director of D.M. Keith, said: ‘We are very excited to represent two new brands Ford and Kia, within our portfolio alongside our existing franchise partners.
‘Ford being the UK number one top selling brand, with a market share of 33 per cent on commercial vehicles, and Kia which is at the forefront of their electric vehicle rollout plan, means it is a great time to join brands who are evolving and future-proofing for the ever-changing market.
‘The acquisition of Ringways, a well-known and respected business in the Yorkshire area, enables us to continue to invest in our business for future and sustainable growth.
‘We have a long-term desire to increase our portfolio and the addition of two fantastic brands is a huge step in the right direction.
‘Myself and the whole D. M. Keith team are looking forward to welcoming Ringways into the D.M. Keith family.’
The business, run by brothers Douglas and Angus Keith, has a combined annual turnover of £250m. It was established more than 55 years ago and has had a Skoda dealership in Leeds since 1976.
The specialist automotive team at UHY Hacker Young led by David Kendrick and Paul Daly advised on the deal.
Kendrick, automotive partner at UHY, said: ‘This deal has been in the offing for nearly two years but with Covid in 2020 it was always going to delay things. We’re delighted that we have finally managed to get it over the line.’
