Marshall Motor Holdings has bought car dealer Ridgeway Garages for £106.9m.
Ridgeway is a multi-franchise dealer group operating across the southern home counties of England, Wiltshire and Dorset, representing 12 brands via 30 franchised dealerships.
The strategic acquisition means that MMH will move become the 7th largest motor dealer group in the UK, up from 10th. The deal was completed on 26 May.
Phil Blackford, partner and head of Rapleys automotive and roadside team, said: “We are delighted to be asked to assist the MMH acquisition team in providing strategic valuation and property advice as part of the due diligence process. This proved to be an important part of the process, given that the aggregate property value accounted for approximately 50% of the acquisition price.”
Daksh Gupta, chief executive of MMH, added: “We chose Rapleys to advise us on the transformational acquisition of Ridgeway due to their track record in the space. We needed confidentiality, expediency, expertise and professionalism, and Rapleys delivered. Thank you Phil Blackford and team Rapleys.”
Rapleys acted for MMH.
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