UHY Automotive act as broker in Perrys GK Group acquisition

Publications that covered this story include: AM Online 11 August 2015 and Motor Trader 1 1 August 2015

Perrys are pleased to announce the purchase of GK Group Ltd for an undisclosed sum, in a deal brokered by UHY Automotive Partner, David Kendrick who represented GK Group.

Perrys Group, a Top 20 dealer group in the AM100 and two-time winner of eBay’s Dealer Group of the Year Award, already operate 46 showrooms in 26 locations across the country; with the addition of GK Group bringing that total to 53 dealerships.

Information about GK Group

The Chesterfield-based GK Group is one of the longest established dealer groups in the AM100 that runs 5 Ford showrooms, 1 Mazda showroom, 1 Kia showroom and a large Accident Repair centre in the towns of Alfreton, Chesterfield, Dronfield, Mansfield, Retford and Worksop.

The company employs 400 members of staff and has a turnover of circa £175m.

GK Group was owned by George and David Kenning and their families. George and David will be retiring after the sale and Paul Rogers, the GK Managing Director, will be joining Perrys.

George Kenning said:

“Perrys are a strong, highly successful, privately owned business with a reputation for excellence. We are delighted that this sale offers our staff enhanced security and better opportunities for the development of their future careers.”

The future of Perrys

This will be the largest acquisition that Perrys have made since its management buyout in 2001.

Chairman Ken Savage said:

“We are very happy to announce the acquisition which extends our relationship with Ford, Mazda and Kia. The addition of GK Group will make a great fit for Perrys with our new dealerships located just south of our existing sites in Yorkshire.

The group’s ongoing success can be credited to its commitment to the core values of customer care, high-quality vehicles and staff retention. I am sure everybody will welcome the GK staff into Perrys and make them feel part of the team.

Alongside the arrival of new franchises in the last few years, such as Nissan in 2013 and Hyundai in January of this year, the addition of GK Group Ltd will add considerable scale to the group.”

Comment from David Kendrick, Partner, UHY Automotive

“GK Group is one of the oldest Ford dealer groups in the country and has a very strong reputation. We are delighted to have assisted the shareholders with their exit and I have no doubt that the acquisition will add significant value to Perrys group moving forward.”

For further information on this deal, please click here.