Monday, 11 August 2014

Marshall Motor Group buys first BMW Dealerships

Marshall Motor Group has bought its first BMW and Mini dealerships with the acquisition of Crystal Motor Group, owners of Astle BMW and Mini in Scunthorpe and Grimsby.
The private deal, for an undisclosed sum, means that Marshalls now represents each of the major German and British premium car brands and takes the annual turnover of the business to around £1.2bn.

On completion of the deal, Marshall will have 75 franchised outlets and 2300 staff.
Alongside Astle, which has two BMW and one Mini outlet, Marshall is also acquiring the three Nissan dealerships, trading as Crystal in Boston, Grantham and Lincoln. The Crystal businesses are also Renault authorised repairers.
Daksh Gupta, Marshall chief executive, said: “This is an historically important acquisition for Marshall which fits perfectly with our stated strategy to grow with the right brand partners in the right locations.
“We are incredibly proud to be partnering with BMW and Mini for the first time. We now have a truly balanced portfolio with important partnerships across the volume, alternate premium and premium sectors.”
The three new Nissan dealerships will form a natural market area with the existing Marshall Nissan outlets in Bury St Edmunds and Peterborough.
Crystal Motor Group was the largest privately owned motor group in Lincolnshire and majority owned by Mike Baldry, a former Alphabet and Dial Contracts veteran. He sold a 45% stake in the business to Camden Ventures when he was offered the opportunity to expand and buy Astle BMW in 2008.
Accounts to the end of 2103 showed Crystal Motor Group with a turnover of £32m and a pre-tax profit of almost £616,000. Assets were primarily stock, valued at just over £4m.

Thursday, 3 July 2014

Marshall acquires Hammonds Land Rover
Marshall, the family-owned, £1bn dealer group which is celebrating its 105th year in business, has announced that it completed the acquisition of the Hammonds Land Rover business in Halesworth, which is situated between Ipswich and Norwich.
The addition of this business will take the number of Marshall Land Rover dealerships to six and is part of a wider strategic development to represent Land Rover in Suffolk.
Commenting on the acquisition, Daksh Gupta, Chief Executive of Marshall said: “Halesworth Land Rover is a great business which will turn over £30m this year and has a first class team whom we look forward to welcoming to Marshall.”
Hammonds Group has represented Land Rover in Halesworth for 23 years, part of a portfolio of businesses, including five other brands, which has been trading for over 50 years.
Marshall has represented Land Rover for 40 years and its territory now covers most of the East of England from the M1 to the coast, with dealerships in Lincoln, Melton Mowbray, Peterborough, Bedford, Cambridge and now Halesworth.
Land Rover is ranked as the No.1 franchise in the National Franchised Dealers Association in the most recent survey of its members.
Daksh Gupta added: “This acquisition continues our established strategy of building scalable businesses with core brand partners based on a strong relationship and a depth of representation. We are delighted to be adding to our Land Rover portfolio just as the current fantastic product range is about to be further enhanced with the introduction of the new Discovery Sport next year.”
Under the terms of the deal, all 42 colleagues at the Halesworth Land Rover business will transfer to Marshall.

Wednesday, 2 July 2014

Marshall acquires 7th Volvo Business
Marshall acquires 7th Volvo Business from Regent Automotive Group in Bishop Stortford and exclusive responsibility for overseas, military and diplomatic sales Marshall, the family-owned £1bn dealer group, has announced that is has completed the acquisition of the Volvo business in Bishops Stortford from Regent Automotive Group.

The new acquisition will bring to seven the number of Volvo businesses in the Marshall portfolio making Marshall the largest partner for Volvo in the UK, which run in one contiguous territory from Nottingham in the north to Welwyn Garden City and Bishop’s Stortford in the south, taking in Grantham, Peterborough, Cambridge and Milton Keynes along the way.

Commenting on the acquisition, Daksh Gupta, Chief Executive of Marshall said: ”We are delighted to have completed this acquisition and to be welcoming our new colleagues to Marshall. This acquisition is in line with our clear strategy to build strength through the depth of representation with our core brand partners, like Volvo, with whom we have an exceptionally strong relationship.” The new business is joining a strong Volvo division, with the six existing Marshall Volvo businesses having generated a return on sales in excess of 2% in 2013 and a return on capital employed of 18.9%.

Daksh Gupta added: “We are very excited about the future with Volvo, which is being strengthened by their substantial investment in class-leading new product such as the replacement for the iconic XC-90 which will be launched in the UK in the coming months.”