Members of the UHY Hacker Young Automotive team are delighted to announce their involvement in the completion of two deals in the sector this week.
The first transaction was representing Huntson Holdings Plc, T/A Autoworld on the sale of their business to Stoneacre. The deal was managed by David Kendrick, partner at UHY Hacker Young Manchester.
“Autoworld is a fantastic business that has delivered strong profits for a number of years now,” said Kendrick, “This transaction again highlights the fact that the larger groups are continuing to consolidate and is a statement of intent from Stoneacre that they are looking to grow to this £1bn turnover target.”
The second transaction completed was the acquisition of SHG Holdings by Vertu Motors Plc. Paul Daly, partner at UHY Hacker Young Manchester, advised on this deal which completed for £12.8 million.
“The introduction of Audi to the group is a further step in the growth of Vertu Motors,” said Daly, “the team and I were delighted to have advised on the transaction.”
With a number of other transactions remaining in the pipeline the UHY automotive team expect to remain active and the recent recruitment of Richard Higham, corporate finance director, has strengthened their team further.