Gordons advises JCT600 on Audi acquisitions
Advice provided by retail@gordons from Leeds and Bradford law firm Gordons has enabled Yorkshire-based car retailer JCT600 to expand its operations in the north of England.
The acquisition of two new dealerships brings the group its first Audi franchises. JCT600 paid more than £10m for the Gilder Group’s Hull and York dealerships which have a combined turnover of £30m and more than 80 staff. As a result the group now operates 44 dealerships throughout Yorkshire and the North East and employs more than 1,300 people across the region.
Gordons corporate partner, James Fawcett, and commercial property partner Nick Chamberlain, advised JCT600’s financial director Nigel Shaw on the acquisitions. Nigel said: “As a long standing client of Gordons we are used to receiving straightforward, practical advice that enables us to achieve our business objectives. James, Nick and the team were excellent in dealing with any issues and ensured the acquisitions were completed quickly and efficiently.”
Audi becomes the latest addition to the long list of manufacturers already housed within JCT600 including Porsche, Bentley, Aston Martin, Ferrari, Maserati, Mercedes-Benz, BMW and Voltswagen. Based at Apperley Bridge, near Bradford, the first seven months of this year have seen JCT 600 increase its used car sales by 30 per cent compared with 2008. Its new car sales are also running 15 per cent higher than the UK average.
James Fawcett, commented: “These two purchases demonstrate JCT600’s confidence as a business and we are very pleased to have assisted in the completion of such significant deals.”