Leicester car retailer swoops for southern BMW/MINI dealerships
Leicester car retail firm Sytner has bought Specialist Car Holdings, which represents BMW and MINI in Stevenage, Luton and Tring, for an undisclosed amount.
Specialist Car has been under the ownership of Clive Fletcher and Michael Donavan since an MBO in 1999. Both will now retire from the industry.
Fletcher said: “We have had an amazing journey with BMW/MINI and our fantastic team. Handing the business over to a leading automotive group such as Sytner, gives us full confidence that it will continue to develop and flourish and we wish them all the best.”
Darren Edwards, CEO of Sytner Group said: “We are delighted to have completed the acquisition of these well respected and long standing businesses which operate from excellent facilities. As well as significantly strengthening the scale and depth of our relationship with the BMW and MINI brands, this purchase also allows us to expand the Sytner Group’s geographic footprint in this important market. I would particularly like to welcome around 300 new colleagues to the Group who I look forward to meeting and to working with in the coming weeks.”
David Kendrick, head of automotive at UHY Hacker Young, who advised the shareholders of Specialist Cars on the deal said: “The Sytner Group is one of the most successful and largest car retail businesses in the country and represents over 20 of the most prestigious car manufacturers in the luxury and performance sector. This acquisition fits in perfectly with their existing portfolio and again demonstrates further consolidation across the sector. I am sure this won’t be the last deal of this nature in 2022 based on what we are seeing.”
Specialist Cars was also advised by Caroline Litchfield at Brabners, with Sytner advised by John Gallon at DLA Piper.
