Top 10 AM100 motor retailer Marshall Motor Holdings has secured a £64.5 million takeover of 48-site Motorline Holdings from the Obee family.
The acquisition, funded from Marshall’s existing cash resources, adds immediate scale representation with Toyota, Lexus and Hyundai to Marshall’s portfolio plus significantly increases its representation of Nissan, Peugeot and Volkswagen, Audi and Skoda.
Marshall said its brand coverage now amounts to 85.4% of the market, plus it now has sites in eight further counties – a total of 37 counties in England and Wales – and it expects synergies for used vehicle remarketing and fleet sales to come from the expanded group.
Motorline’s revenues in 2020 were £695.2 million with pre-tax profit of £2.1m (after exceptionals of circa £4m). It has around 1,500 staff who transfer to Marshall.
By adding Motorline’s seven Nissan franchises Marshall becomes Nissan’s fourth largest retailer, with 10 sites, and it is now Peugeot’s second largest, with the four extra sites taking its Peugeot dealership total to seven.
The dealer group, headquartered in Canterbury, had grown significantly in the past decade or so to operate across Kent, West Sussex, Surrey, Berkshire, Bristol, South Wales and the West Midlands.
It represents ten brands through 48 operating franchises including Toyota, Lexus, Hyundai, Volkswagen, Audi, ŠKODA, Nissan, Peugeot, and Maserati. In addition, it operates four Volkswagen Group Trade Parts Specialist (TPS) businesses and five used car centres.
Separately Marshall, which recently upgraded its 2021 profit forecast, has bought a related freehold property for £2.9m and it has the option to acquire two additional freehold properties for £24.9m.
[Source: Automotive Management Online]