Motor group drives ahead following merger
TWO companies which make up a Yorkshire motor group have merged in a move designed to enable the business to continue its growth.
Alexander’s Motor Company and Alexander’s Prestige, both based at Bar Lane Industrial Estate, Boroughbridge, have changed their product range and stepped up manufacturing after gaining support from Yorkshire Bank’s North Yorkshire Financial Solutions Centre (FSC) as part of its Investing for Growth initiative.
The restructured group – which will trade as Alexander’s Motor Company – has moved into a £2m, 21,000 sq ft showroom and its directors believe the venture can achieve its £20m projected turnover in the next 12 months.
Established six years ago by managing director Alexander Brimelow, Alexander’s now has annual turnover of £18m.
Alexander’s Motor Company was formed to sell second-hand, mid-range sports cars and manufacture horse boxes and has grown to employ 28 staff.
Alexander’s Prestige, founded in 2005 by Mr Brimelow and friend Andrew North, sells sports and prestige cars including BMW, Porsche, Lamborghini and Ferrari, and has grown to £11m turnover and seven staff.
The enlarged business will stop selling mid-range cars to concentrate on the high-growth sports and prestige cars market and in increasing the manufacture and sale of Mr Brimelow’s own-designed horse boxes with another four models being added to the range taking the total to nine and creating another four jobs.
Mr Brimelow said: “My teachers told me I would be able to find work only emptying rubbish bins but I had to get on as best I could. I never dreamed when I was selling burgers that I would own a multi-million pound business on the same site only six years later but failure at school made me really want to work hard.
“I started manufacturing horse-boxes because my fiancée, Sarah Flesher, an experienced competitive horse rider, needed one and I could not find one of the right quality with acceptable after-sales service.”
Joint director Mr North added: “Alex and I know each other very well and both intuitively realised that, to keep moving forward, we must focus on the same areas of the business and on the products with the biggest growth potential.”
Yorkshire Bank North Yorkshire FSC business partner, Jeremy Bowers, said: “Both Alexander and Andrew have an instinctive flair for what they do. The merger is an exciting move and we are pleased to be supporting the business as it continues to grow.”
Jeremy Oliver, corporate finance director at Yorkshire accountancy firm Garbutt & Elliott, advised both Alexander’s Motor Company and Alexander’s Prestige on the merger.
James Towler, corporate finance partner at York law firm Langleys, led a team which provided legal advice to the companies and to Yorkshire Bank.
