Motor group takes sales to £420m with latest acquisition
Holdcroft Motor Group has completed the acquisition of Stockport and Oldham Hyundai and Oldham Mazda from the Vantage Motor Group, increasing its number of sites to 25 with annual sales of £420m.
The acquisition sees Holdcroft take its seventh Hyundai location to complement existing dealerships in Stoke, Stafford, Ellesmere Port, Crewe and Macclesfield – and its second Mazda dealership.
The deal was supported by lawyers from Aaron & Partners’ Corporate Finance team, who worked to secure the purchase on behalf of Holdcroft, which was launched as a family business more than 50 years ago.
Darren Holdcroft, managing director of Holdcroft Motor Group, said: “This acquisition is part of our ongoing growth strategy and the purchase demonstrates our commitment to further developing our business.
“We already have long term, strong relationships with these manufacturers, both of which have a fantastic range of cars and we have confidence in their future growth potential.
“Greater Manchester is a region where we have wanted to operate for some time and we are delighted to have purchased the Vantage dealerships.
“I’d like to extend a warm welcome to our new colleagues upon joining the Holdcroft family. I’m sure their expertise and experience will be a hugely valuable asset to our company.”
Hugh Strickland, a partner in Aaron & Partners’ corporate finance team, together with Aaron Vandermark and Iwan Williams, acted for Holdcroft in the deal.
He said: “This is an incredibly exciting and significant deal both for Holdcroft and for the motor industry in the North West. We were delighted to be able to play a role yet again in extending the Holdcroft Motor Group’s growing portfolio and helping Darren and the team work towards realising the company’s fantastic growth potential.”
