Established in 1968, N&M Walkingshaw Limited have been part of the Cumbrian community for a long time, representing Volkswagen and Kia in Workington. This deal sees Lloyd group further expand their footprint in the county and is their first foray into the Volkswagen group.
Sam Lloyd, Managing Director of Lloyd Group said:
“We’re delighted to announce our acquisition of N&M Walkingshaw Limited in Workington.
The acquisition will see us adding the Volkswagen brand to our portfolio whilst also strengthening our market position with Kia.
The two brands represent an exciting opportunity for us. Walkingshaw has been a successful, family run business for over 50 years so they feel like a great fit for Lloyd Motor Group in terms of ethos and geography.
We’re very much looking forward to getting started and we wish Andrew all the best for the future.”
Andy Walkingshaw, Managing Director of Walkingshaw’s said:
“The business has been part of our family for almost 56 years and it has been a privilege to serve our customers in West Cumbria. However, with increasing commercial complexity and the market continuing to consolidate, we felt it was the right time to allow a larger group to take the business on to the next level. I have no doubt Sam and Bryan will look after our customers and our fantastic team.”
The deal was managed by David Kendrick and his automotive team at UHY Hacker Young who represented Walkingshaw with the sale. David said:
“Single site dealerships are becoming more and more challenging and with Volkswagen group encouraging their ideal network plan, it is making it even tougher for operators like Walkingshaw. Andy and his family have built up a great business, however it makes sense for Lloyd to take it forward and I guess they will be looking to increase their VWG footprint moving forward.”
