We are pleased to announce the sale of Peter Stockill Limited who represented SEAT & Chrysler Jeep in Hull to Riverside Motor Group for an undisclosed sum. Riverside who operate Volvo, SEAT, Isuzu and Mitsubishi franchises in Yorkshire has been trading since 1982 and this acquisition takes their number of franchised trading outlets to five, with this being their second SEAT dealership.
The business has been acquired from Pat Stockill who has decided to retire from the industry.
Mark Denton, Director of Riverside said:
“We are delighted to have purchased Peter Stockill Limited which is a hugely well-known and respected business in the Hull area. The business fits perfectly for us geographically and we are excited about the prospect of a second SEAT dealership in the group. I look forward to welcoming our new colleagues into the group and driving the business forward.”
David Kendrick, Partner at UHY Hacker Young said:
“I am glad to have been able to assist Pat with the sale of her company. Peter Stockill Limited is a long established business in Hull that had represented the Chrysler brand for many years and more recently the SEAT brand. The dealership is situated in a great location and Riverside are positioned extremely well to expand the business further.
This is the third automotive sale we have completed in the past week and it appears that the transactional activity levels are set to continue. There is a pent-up demand of buyers out there, enabling dealers looking for an exit path to maximise value and achieve strong sale values.”
If you would like to discuss any of the above in more detail, please contact our automotive specialist David Kendrick.