Leading law firm Birketts has advised the shareholders of the Essex Auto Group on its sale to South Africa-listed Super Group for an undisclosed sum. The deal will see Super Group add to its existing Allen Ford network of dealerships.
The acquisition includes the entire Essex Auto Group portfolio, which is made up of five Ford franchises (Southend, Rayleigh, Thurrock Lakeside, Billericay and Basildon head office), Kia sites in Southend and Thurrock Lakeside, and Fiat and Mazda in Southend.
Philip Maskell, former Essex Auto Group chairman, said: “We have had a 25 year relationship with Birketts and, although there were other options, we chose Adam Jones and his team because they have the superior Automotive M&A track record and industry knowledge. So it proved, with our transaction being expertly handled from the pre-sale preparation and IM, through onerous due diligence, contract negotiations, and on to completion. I set an ambitious time line and the deal was delivered with efficiency. The Birketts team did a great job and I can confidently recommend them.”
Adam Jones, Corporate Partner at Birketts, added: “This transaction demonstrates once again Birketts’ expertise in the motor sector. I am delighted with the way that our multi-disciplinary team helped achieve a successful exit for Philip and his colleagues at Essex Auto Group, and of course we wish Super Group a very successful future in Essex.”
Birketts advised on all legal matters with Corporate Partner Adam Jones leading the team, which also consisted of Alex Forwood (Corporate Solicitor), Karl Pocock (Tax Senior Associate) and Clare Barlow (Employment Senior Associate).