Joining the firm’s other 92 sales and after sales facilities across the UK, the PLC has purchased the entire share capital of the Vauxhall dealer, and the business and ‘some assets’ of the Seat premises.
Situated in ‘prime location’ just off junction 44 of the M6, north of Carlisle, Vertu say the business will help extend their presence in the North – adding to their Vauxhall dealers in Sunderland, Durham, Newcastle and Hexham.
The buy-out marks the 13th Vauxhall dealer in Vertu’s portfolio, and the fourth Seat dealer. Management accounts for the businesses showed a turnover of £10.7 million, and an operating loss of £0.1 million.
Robert Forrester, CEO of Vertu Motors was pleased with the new acquisitions. ‘This acquisition extends the Group’s operations across the North of England and into Cumbria for the first time,’ he said.
‘These two outlets complement the Group’s existing businesses in the North of England, and in particular its Vauxhall operations in Newcastle, Hexham and Durham which are adjacent to the acquired territory. The additional SEAT outlet extends further the Group’s relationship with the Volkswagen Group.
‘The Group continues to be active in identifying additional growth opportunities as it seeks to develop a scaled automotive retail operation in the United Kingdom. The Group is now the seventh largest automotive retailer measured by revenue.’