£45m North Yorkshire car dealership gears up with funding boost

A SPECIALIST in used luxury, performance and 4×4 cars, which counts former England footballer Michael Owen among its clients, is accelerating its growth plans with a £2.2m funding package.

North Yorkshire-based Alexanders Prestige Group incorporates Alexanders Prestige, which specialises in the sale, purchase and aftercare of upmarket cars, Alexanders Horseboxes, a leading manufacturer of luxury horseboxes, and Ripon-based premium car dealership Harvey Cooper Cars.

Founded in 2005, the group has grown year on year and, after its busiest July to date, will turnover £45m in 2016.

Part of the Yorkshire Bank investment will be used to grow the number of staff working across the business from 60 to 65.

Managing director Andrew North, who set up the Boroughbridge-based business with childhood friend Alexander Brimelow, said: “Over the past ten years we’ve grown the group steadily and while knowing your product and excellent customer service is essential, part of our success has been down to having the confidence to invest.

“There are still great opportunities to grow the group on all sides and in order to meet growing demand we plan to invest in new stock and recruit about five new staff. I see Yorkshire Bank playing a key role in helping us to achieve our growth aspirations. The team has demonstrated a real understanding of our business and a strong willingness to work with us. They’ve also been easy to deal with and have shown a level of flexibility which we were seeking in our funding partner.”

The deal was delivered by Pete Sumners, director in Yorkshire Bank’s Leeds-based Specialist and Acquisition Finance (SAF) team.

The team’s head, Kevin Hambling, said: “The strong growth achieved by Alexander Prestige Group is testament to the commitment and expertise demonstrated by Andrew and his management team. We look forward to supporting the business as it enters its next growth phase.”

Although based in Boroughbridge, customers of Alexanders hail from around the world and 60% of the business conducted over the internet, with purchasers never having visited the gleaming 22,000 sq ft showroom – one of the largest indoor display areas in the country.

Among the stock are rare Ferraris, range-topping Range Rovers, Porsches, Bentleys and Aston Martins.

The group also has the UK franchise for the Lehel range of horseboxes, which sell for up to £500,000 and while equine customers include a number of Olympians.

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