6:54 am, January 25, 2011
HERON Volkswagen Group has been sold to Gilder Group for an undisclosed sum ASE’s Dealermatch has announced.
Heron, who represented Volkswagen Cars, Commercial vehicles and also TPS, has been established in Newark for more than 20 years. The group’s sale was the result of the directors of the business wanting to retire from the industry.
The sale sees the Gilder Group strengthening their presence even further as they already represent Audi, Volkswagen, Seat and VW Commercial Vehicles in Sheffield, Rotherham, Chesterfield and Doncaster.
Garry Scotting, CEO of Gilder Group said: ‘The acquisition of The Heron Group is very exciting as it will kick start our return to the growth strategy that has been on hold for the last 2 years. With a current turnover of £14m it will put the Groups turnover at over £200m and the 50 new Staff will put us over 500 Employees.
‘Our existing Volkswagen LCV business and our Trade Parts (TPS) business butt up to the newly acquired territory and make for a great fit in terms of market area cover.”
David Kendrick, transaction manager at ASE said: ‘I am pleased that we have managed to complete the deal with Gilder Group. After a couple of tough years in the industry it appears that there is still some uncertainty as to the challenges ahead which are reinforced by the decision of the Heron directors to sell and retire from the industry.’
