Halliwell Jones refinances and buys Blue Bell Wilmslow
NORTH West car sales chain Halliwell Jones says its annual sales will tiop £300m after it acquired family-owned BMW dealership and body shop Blue Bell Wilmslow.
Halliwell Jones has also moved its banking from the troubled Co-operative Bank to Royal Bank of Scotland, with whom it has refinanced with a £12.6m package.
Following the acquisition, the two Blue Bell operations have changed their names to Halliwell Jones (Wilmslow) Ltd and Halliwell Jones (Wilmslow) Bodyshop Ltd to match the group’s existing trading style.
The acquisitions, which were for an undisclosed amount, were funded by BMW Financial Services UK.
Halliwell Jones already operate BMW/Mini dealerships in Southport, Chester, Warrington and Llandudno, which have a turnover in excess of £250m. The BMW/MINI franchises previously operated by Blue Bell Wilmslow Ltd were seen as an ideal addition to the group’s portfolio.
Halliwell Jones recently invested nearly £10m in developing a £5.5m million after-sales operation in Chester, building a new Mini dealership in Southport and doubled the size of its Mini site at Warrington.
The group is also currently undertaking a modernisation programme at each of its BMW dealerships.
Group finance director Glyn Howes, said: “We have banked with the Co-operative Bank for over 10 years and remain grateful to their team for fantastic support over this period. Given the major developments for the group, we felt now was the right time to re-finance and have already been impressed with the customer service offered by Steve Mawdsley, head of mid corporate in Manchester, and his team at RBS.”
Phillip Jones, managing director of Halliwell Jones, added: “We are proud to continue the heritage set by Blue Bell in this important market area. This acquisition perfectly enhances our relationship with BMW (UK) and is a perfect springboard for the future well-being of our group, which now has over 550 staff and this year will now have turnover in excess of £300m.
“Our Warrington dealership has recently won the title of BMW Dealer of the Year and we aspire to ensure each of our dealerships performs to this highest of standards.”
Christopher Yau, relationship director at RBS Manchester who is supporting Halliwell Jones, said: “We are very excited about this new relationship and look forward to supporting the group and their business goals. Their commitment to this is exemplified in their outstanding showroom facilities and we are delighted to be a part of their continuing business growth development.”
The banking, corporate and property teams at Hill Dickinson’s Liverpool office, led by Richard Capper, Mike Jones and David Swaffield respectively, advised on the refinancing and acquisition which were completed simultaneously. Peter Terry, corporate finance partner at the Manchester office of Mazars, also advised on the deal.
Last year Blue Bell Group managing director Sue Brownson OBE passed away after a long illness.
