VT HOLDINGS, the Japanese-based listed automotive group, has purchased Wessex Garages for an undisclosed sum.
Wessex Garages is a prominent, award-winning Dealer Group operating seven sites in South Wales and the South West.
The news follows VT’s acquisition of CCR Motor Company in 2012 and Griffin Mill Garages in 2014 taking the firm’s representation in the UK to 18 sites and an estimated turnover of £300m.
Tim Bagnall, MD of VT’s UK Operations, said: ‘We are delighted to announce the acquisition of Wessex Garages. This is a perfect strategic fit for us in terms of location and franchises and will form a strong regional Group able to take advantage of further opportunities.’
Keith Brock, MD at Wessex Garages, added: ‘Wessex Garages was established by Steve Patch almost exactly 30 years ago with one site on Feeder Road in Bristol. Since then the business has grown into what it is today – a modern, progressive and award-winning motor dealer group.
‘It is the intention for Wessex Garages to continue in its existing format for the foreseeable future. The company will still be known as Wessex Garages and I will continue as the managing director to ensure continuity. Our existing business partners and manufacturers have been most supportive in working with us and we would like to thank them for their support and patience.’
He continued: ‘Rest assured it will be business as usual for all our staff and customers, and we’re looking forward to a highly prosperous and successful future under our new ownership.’
Our picture shows, from left: Koichi Yoshida, director at VT Holdings; Steve Patch, exiting chairman at Wessex Garages; Keith Brock, managing director at Wessex Garages; and Tim Bagnall, MD and CEO of VT Holdings.
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