JCT600 in major Gilder Group acquisition
Family-owned car retailer JCT600 has acquired Sheffield-based Gilder Group including nine of its car and commercial vehicle dealerships, two parts depots and a body shop.
The deal, worth an undisclosed eight-figure sum, will see Bradford-headquartered JCT600 acquire the £200m turnover business from outgoing CEO Garry Scotting.
The acquisition strengthens JCT600’s presence in South Yorkshire, Derbyshire and Nottinghamshire, and takes the business to a total of 50 dealerships. It also increases JCT600’s workforce from 1,350 to over 1,800 with all jobs being retained.
The businesses will trade as part of JCT600 from 1st March 2013, and the deal will boost JCT600’s annual turnover to over £850m.
JCT600 chief executive John Tordoff commented: “This acquisition is another leap forward for us as a group, strengthening our coverage geographically and adding some more strong dealerships to the group.
“We are growing our workforce by a third, adding over 30 per cent to our revenues and taking on nine new dealerships, making this the biggest deal JCT600 has ever done.”
He added: “In 2009 we acquired York and Hull Audi from Gilder Group and so we know from that experience that we are buying a business with fantastic staff, loyal customers and high standards of care. Garry has built a solid, profitable business since he took control of The Gilder Group in 2002, and one that will dovetail perfectly with our existing operations and give us further economies of scale and increased buying power.”
The nine dealerships that will change hands include: Audi dealerships in Sheffield and Doncaster; Volkswagen dealerships in Sheffield, Chesterfield, Rotherham and Newark; VW Commercial Vehicle dealerships in Sheffield and Newark; and one SEAT dealership in Sheffield.
In addition, the business has acquired the Gilder Paint & Body Repair Centre in Sheffield and two TPS (Trade Parts Specialists) businesses in Lincoln and Sheffield.
A team from Yorkshire law firm Gordons led by head of corporate James Fawcett advised JCT600.
This was posted in Bdaily's Members' News section by Mark Lane .
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