Richard Neulaender and John Walsh, formerly of Colborne Garages which they sold to Lookers in 2014, have returned to the industry with the acquisition of Heritage Automotive Limited from John Cook who was advised by David Kendrick of UHY Hacker Young Automotive.
Heritage Automotive was established in 1996 and now represents Audi, Volkswagen, Skoda, Peugeot and VWCV across Wiltshire, Somerset, Dorset and Bristol. The business turned over £150m in 2015 and represents a significant opportunity for Neulaender and Walsh to return under the Volkswagen brands.
Acquirer Richard Neulaender said:
“Since the sale of the Colbornes business back in March 2014 it has been interesting to be involved in some projects outside of the industry, however, we have missed the business and the people enormously and were always keen to return if the right opportunity presented itself to us. We are very excited about acquiring Heritage Automotive and re-establishing some relationships with key partners. Former colleague and Colbornes director Nick Hinallas will be part of the new team once again, and the three of us feel confident that Heritage will be an excellent platform from which to build another high performing group”
Comment from David Kendrick, partner, UHY Hacker Young Automotive
“It isn’t unusual for people like Richard and John to exit the sector as they did with the successful sale of Colborne Garages back in 2014 and then after a couple of years look to return. They say the industry runs in people’s blood which in this instance it appears to.
Heritage has some fantastic brands in some strong retail locations which have been developed over the years. This will be an exciting new chapter for the business under new ownership.”