Member Article

Record breaking summer for UHY’s automotive team following £28m Pentagon Motor deal

The automotive team at Manchester-based accountants UHY Hacker Young is celebrating a bumper run this summer having advised on a number of big deals in the motor industry in recent months.

The city centre firm has closed four deals in the last six weeks and claims to have ‘several more’ major deals in the pipeline.

One of the most recent saw UHY’s head of automotive, David Kendrick, advise the shareholders of national car dealership network Pentagon Motor Holdings Limited in the £28.1m sale of their business to Imperial Holdings SA.

The deal sees Pentagon, which operates 21 sites across Greater Manchester, Derbyshire, Yorkshire, Nottinghamshire and Lincolnshire, become part of the wider Imperial group which also owns Imperial Commercials Ltd.

UHY’s work on the acquisition comes after a run of deals which has seen its automotive team advise on a string of acquisitions, including Grassicks BMW & MINI to Eastern Holdings Limited, Beadles Group Ltd to the international automotive retailer Group 1 Automotive, and Trainer Limited to Sytner Group.

The firm has said it has experienced an increase in the number of international buyers sniffing around UK motor retail businesses and premium brands in the wake of the Brexit vote, a trend which it expects to continue in the coming months.