Gordons helps drive deal for leading motor retailer
Gordons has assisted one of the UK’s leading car retailers to acquire a Sheffield-based group for an eight-figure sum.
The firm advised JCT600, whose headquarters are in Bradford, on acquiring the Gilder Group from outgoing chief executive officer Garry Scotting.
Gilder Group operates nine car and commercial vehicle dealerships, two parts depots and a body shop, in South Yorkshire, Derbyshire and Nottinghamshire. It has an annual turnover of £200m and employs about 450 staff.
JCT600 previously had over 40 dealerships across Yorkshire and the North-East, selling brands including Kia, Mazda and Peugeot, in addition to those supplied by Gilder Group. The acquisition has increased JCT600’s workforce to over 1,800 and its annual turnover to more than £850m.
JCT600 finance director Nigel Shaw said: “We have a long-standing relationship with Gordons, who demonstrated again in the Gilder deal what we already knew: they understand the car retail sector inside out, move quickly and deliver a top quality service.”
Gordons’ involvement in the deal is the latest evidence of the firm’s extensive expertise and experience in the motor dealership sector, acquired over many years.
In recent months, Gordons has advised clients including: William Morgan Group, owner of Northampton-based Wollaston Motors, on acquiring BMW and Mini dealer North Oxford Garage; and Leeds-based DM Keith, the UK’s largest Skoda retailer, on buying Hull’s Royce Roberts, which sold the brand in that city.
Previous deals on which Gordons advised JCT600 include their acquisition of Gilder Group’s Hull and York Audi franchises in 2009 and their purchase of Bramall and Jones’ Audi dealerships in Boston, Lincoln and Grimsby the following year.
Commenting on the Gilder Group transaction, James Fawcett said: “We’re delighted to have supported JCT600 through this hugely important deal. We’ve worked closely with chief executive John Tordoff and finance director Nigel Shaw for many years and it’s been great to do so again.”