Acquisition accelerates motor giant’s growth

Motor dealership group Greenhous has acquired a Southampton group that will add £70m sales and 300 staff to the business.

Adams Morey has commercial vehicle dealerships has eight sites along the south coast and the deal represents a significant geographical expansion for Greenhous.

It brings together two regional DAF franchises, while Greenhous also sells Ford, Nissan and Volkswagen vans.

The Telford-headquartered group employs 1,000 people across the region and in Powys. Greenhous is one of the largest private businesses in the West Midlands with annual revenues of £1.1bn in 2018.

Derek Passant, chief executive of Greenhous Group, said: “There is already a great synergy between Greenhous Commercials and Adams Morey, both are independent and operate to similar customer bases with the same customer focussed values. It will be very much business as usual at Adams Morey.”

The business will continue to trade under its existing name although there will be a change of management, with Kevin Swinnerton replacing managing director Mike Fennell who is retiring after 46 years with the business.

RSM’s corporate finance team advised Greenhous Group on its acquisition.

Steve Hubbard, corporate finance partner at RSM, said the deal “brings together two complementary businesses which will enhance the reach and scale of Greenhous”.

The value of the deal has not been disclosed.

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