Derby motor group sold for £28m
Derby-based motor group Pentagon has been sold to South African firm Imperial Holdings for £28m.
Imperial are owned by Imperial Holdings SA who employ over 50,000 people worldwide.
The Pentagon name will stay, as will management.
Speaking about the deal Trevor Reeve, chairman of Pentagon said: “It was clear to me from the first day that we met with Imperial that the culture between the two businesses was a perfect fit and we are all fully committed to preserving and developing this common ethos. As I approach 70 I feel the time is now right for another company to take the ownership and drive the business forward to the next level.
“All key team members here at Pentagon have committed to remain with the business after the sale and we are all really looking forward to working with the team at Imperial to ensure a seamless integration with their existing business.”
Pentagon was founded in 1991 and over 26 years has grown from a single Vauxhall site in Derby to a leading motor group representing over 40 individual motor dealer franchise points across 21 locations. The company has over 1,200 team members working in dealerships located across the East Midlands, Lincolnshire, Yorkshire and the North West of England.
Mark Lamberti, group chief executive officer of Imperial said: “Imperial has strong global partnerships with leading vehicle manufacturers and we are delighted to expand our international retail footprint into the passenger and light commercial vehicle market in the UK through the acquisition of Pentagon.”
