North Yorkshire prestige car dealership drives growth with £2.2m fund

A North Yorkshire specialist in used luxury, performance and 4x4 cars is set to gear up its growth plans after securing a £2.2m funding package from Yorkshire Bank.

Alexanders Prestige Group Ltd, based in Boroughbridge, incorporates Alexanders Prestige, which specialises in the sale, purchase and aftercare of upmarket cars; Alexanders Horseboxes, a manufacturer of luxury horseboxes; and Ripon-based premium car dealership Harvey Cooper Cars.

Founded in 2005, the group recently reported its busiest July to date and expects turnover to hit £45m in 2016.

Part of the Yorkshire Bank investment will be used to grow the number of staff working across the business from 60 to 65.

Managing director Andrew North, who set up the business with childhood friend Alexander Brimelow, said: “Over the past ten years we’ve grown the group steadily and while knowing your product and excellent customer service is essential, part of our success has been down to having the confidence to invest.

“There are still great opportunities to grow the group on all sides and in order to meet growing demand we plan to invest in new stock and recruit about five new staff. I see Yorkshire Bank playing a key role in helping us to achieve our growth aspirations.

“The team has demonstrated a real understanding of our business and a strong willingness to work with us. They’ve also been easy to deal with and have shown a level of flexibility which we were seeking in our funding partner.”

The deal was delivered by Pete Sumners, director in Yorkshire Bank’s Leeds-based specialist and acquisition finance team.

Kevin Hambling, who heads up the team, said: “The strong growth achieved by Alexander Prestige Group Ltd, is testament to the commitment and expertise demonstrated by Andrew and his management team. We look forward to supporting the business as it enters its next growth phase.”

The group’s 22,000 sq ft showroom, Alexander House, features Ferraris, Range Rovers and Porsches, Bentleys, Aston Martins, plus much more. Over 100 cars share the showroom with a range of vehicles designed and built by Alexanders Horseboxes.

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