Vantage adds to stable with Skoda acquisition
A FAST-GROWING Yorkshire business has snapped up a Lancashire dealership, taking its sales to £223m.
Family-owned David Ian Škoda, based at the White Lund Industrial Estate in Morecambe has been sold to Vantage Motor Group for an undisclosed sum.
The purchase of the £8m turnover business from brothers David and Ian Hainsworth takes Vantage’s network of sites to 21. It is Vantage’s first Škoda dealership.
The dealership will be rebranded as Vantage Škoda later this year and will undergo significant redevelopment to reflect the manufacturer’s new corporate identity. All 16 staff are being retained. While Ian Hainsworth has stood down, his brother David is remaining as head of business at the dealership.
Mark Robinson, managing director of Knaresborough-based Vantage Motor Group, said: “The ŠKODA brand has gone from strength to strength and its increasing appeal in the eyes of buyers complements the strong values and focus on customer service that are consistent with the Vantage name.”
Heidi Cartledge, head of customer quality and network development at ŠKODA UK, added: “We are also really looking forward to seeing the site in Morecombe when the redevelopment and new corporate identity is complete later this year. “
Vantage was advised by Walker Morris Leeds, Grant Thornton Leeds and Colliers CRE. The deal was brokered by UHY Hacker Young in Manchester.
Paul Daly, partner at UHY Hacker Young said: “The deal continues the growth of Vantage with their first acquisition of a VW Group brand. Based on other transactions we are working on at present it appears the sector consolidation will continue strongly through 2015.”
