Vantage Motor Group has completed the acquisition of David Ian ŠKODA in Morecambe.
The Morecambe dealership is Vantage’s 21st site, and its first Skoda outlet. The group expects its turnover to increase by £8m from £215 to £223m as a result of the deal.
All existing staff will be retained by Vantage. The dealership will be rebranded as Vantage ŠKODA later this year and will undergo significant redevelopment to reflect the manufacturer’s new corporate identity.
Managing Director of Vantage Motor Group, Mark Robinson said: “We are delighted to acquire our first ŠKODA dealership. The ŠKODA brand has gone from strength to strength and its increasing appeal in the eyes of buyers complements the strong values and focus on customer service that are consistent with the Vantage name.”
The acquisition was deal was brokered UHY Hacker Young Associates Limited. Paul Daly, Partner and automotive specialist from the consultancy’s Manchester office said: “The deal continues the growth of Vantage with their first acquisition of a VW Group brand. Based on other transactions we are working on at present it appears the sector consolidation will continue strongly through 2015.”
Over the past year Vantage Motor Group’s turnover has grown from £65m to more than £220m. The group employs 500 people at 21 sites across the North of England and the West Midlands.
