Yorkshire law firm Gordons helps JCT600 expand with three Audi dealerships
A team of specialist lawyers from Gordons has advised Yorkshire-based car retailer JCT600 on the expansion of its operations with the acquisition of three Audi dealerships for an undisclosed sum.
The Boston Audi, Lincoln Audi and Grimsby Audi dealerships – together employing 155 staff – were operated by Bramall and Jones, a company owned by Tony Bramall and Peter Jones.
The company has been sold outright to the family-owned JCT600 Group which now operates 48 dealerships throughout Yorkshire, Derbyshire, Lincolnshire and the North East and employs over 1,350 people across the region.
Led by corporate law partner James Fawcett, a team of retail@gordons’ specialist lawyers handled the transaction including members of the firm’s corporate, banking, commercial property and employment departments.
JCT600 finance director, Nigel Shaw, said: “This latest acquisition provides us with another fantastic opportunity with Audi and was expertly handled by the team at Gordons. We experienced an excellent, integrated approach throughout the deal process which gave us a clear understanding of the transaction. We are now looking forward to generating even greater success at the three dealerships.”
Audi became the latest addition to the long list of JCT600 dealerships following the acquisition of Hull and York Audi in August last year. The company operates dealerships selling 22 of the world’s most respected brands such as Aston Martin, Bentley, BMW, Ferrari, Maserati, Mercedes-Benz, Porsche and Volkswagen.
James Fawcett commented: “JCT600 has shown its resilience and versatility throughout the economic downturn by remaining entrepreneurial. This deal is another example of the company’s ability to identify and secure exciting opportunities for growth and we are very pleased to have been able to assist the JCT600 team in this significant acquisition.”
For Gordons, James Fawcett and Andy Brian handled the corporate and banking elements of the deal. Property matters were dealt with by Nick Chamberlain and Rachel Thompson whilst employment advice was provided by Bryony Goldspink.
The deal was supported by Lloyds TSB Corporate Markets. It is anticipated that the three new additions will contribute around £80m to the group’s turnover which is expected to top £550m in 2010.