Marshall Motor Group has acquired a car dealer group with operations in Scunthorpe, Grimsby and the East Midlands.
Crystal Motor Group (CMG), which has a turnover of £32 million, has now been incorporated into Marshall – a £1.2 billion revenue car dealership giant that has more than 70 dealerships across the UK. Simon Ward and James Bailey of finance house Springboard advised the CMG shareholders on the deal, which was completed for an undisclosed amount.
For any business that buys a competitor to secure inorganic growth, it is always a worthwhile exercise ensuring that the acquired company’s motor trade insurance policy is up to scratch. Marshall ought to now examine that the policies that are in place represent the best quality and value available, and may choose to bring the insurance inline with their existing policies.
What Marshall chief executive Daksh Gupta did confirm was that it was a "historically important acquisition" for the firm. He added that it fitted in perfectly with the business’ growth strategy that was focused on the "right brand partners in the right locations".
CMG has five dealerships operating under the BMW and Mini (Astle BMW) and Nissan (Crystal Nissan) brands. Astle BMW is located in Scunthorpe and Grimsby while Crystal Nissan operates from Grantham, Boston and Lincoln.
Since 2009 Marshall has expanded its portfolio of car dealerships by 36. It now employs 2,300 staff, represents 25 different brands, sells about 55,000 new and used cars, and services or repairs more than 450,000 vehicles in its workshops.