The family-run SMC Motor Group is to change ownership for the first time in almost four decades after a takeover deal was agreed with SLM Group.
The popular retailer has been in the same family for 39 years and runs four dealerships representing Seat, Renault, Dacia and Cupra across Hampshire and Surrey.
Now however, it is to be taken over by SLM after shareholders James Kimber and Anne Knight decided the time was right to retire.
The group has agreed to pay an undisclosed sum for the firm which takes its network up to 16 dealerships.
SLM operates sites in East Sussex, Kent and East Anglia, comprising five Toyota dealerships as well as one Vauxhall dealership one Suzuki dealership and one GMW ORA site.
It also operates a pair of SLM Select sites, which sell used cars, and two Body Repair Centres.
Mark Phillips, CEO of SLM Group said: ‘We have been keen to expand for some time now and with the addition of SMC Motor Group, allows us to grow our AOI.
‘We look forward to welcoming our new colleagues into the business and are excited to work with some new brand partners moving forward.’
James Kimber, managing director of SMC Motor Group added: ‘I am pleased to have concluded a deal with SLM Group who have very similar family values to ourselves and have no doubt they will continue the success we have managed to achieve at SMC over the past 39 years.
‘We would like to pay tribute to the hard work and commitment of our employees and for the contribution to the outstanding success SMC Motor Group has been able to achieve.’
SMC were represented in the sale by David Kendrick and his automotive team at UHY Hacker Young.
Kendrick said: David said: ‘SMC has been successful regional family run business for as long as I can remember.
‘With the continued consolidation going on and lack of succession within the business, selling to SLM Group makes complete sense and I am sure Mark and his director team will make a huge success of the businesses moving forward.’