Top 100 law firm Birketts has advised the shareholders of the Beadles Group on its sale to New York Stock Exchange-listed Group 1 Automotive group for an undisclosed sum.
Beadles Group, which was established in 1893 and incorporated in 1915, represents the Jaguar, Land Rover, Volkswagen, Skoda, Toyota, Vauxhall and Kia marques across 12 car dealerships in Kent, Essex and Surrey. These dealerships will continue to operate under the Beadles name.
The acquisition increases Group 1's UK operations to 43 dealerships, which includes existing Audi, BMW/MINI, Ford, Jaguar, SEAT and Volkswagen Commercial Vehicles stores.
Tim Humphries, former shareholder and Group Finance Director at Beadles, said: “Birketts’ dedicated Motor Industry Group has a proven track record and understands the key issues involved and how to successfully transact in the sector. Our deal was expertly handled from beginning to end and the client service and project management that we received was second to none.”
Mark Henry, Partner and Head of Birketts' Automotive Industry Group, added: “This transaction demonstrates once again Birketts’ expertise in the motor sector as it continues to see increased levels of consolidation. I am delighted with the way that our multi-disciplinary team helped achieve a successful exit for Beadles shareholders and of course we wish Group 1 Automotive a very successful future as it continues to expand its footprint in the UK.”
Birketts advised on all legal matters with Mark Henry leading the team, which also involved Greg Allan (Corporate) and Melissa Loucas (Commercial Property).
The content of this article is for general information only. For further information, please contact Mark Henry or a member of Birketts' Motor Industry Team.
This article is from the autumn 2017 issue of Inside Out, Birketts new commercial newsletter on current and upcoming legislation. To download the latest issue, please visit the newsletter section of our website. Law covered as at October 2017.
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