SLM expands portfolio with acquisition
【Summary】SLM Group has acquired SMC Motor Group, adding new brands to their portfolio. SMC Motor Group operated four dealerships with franchises like SEAT, Renault, Dacia, and CUPRA. This acquisition expands SLM's representation points to 16 and marks their entry into SEAT/Cupra and Renault/Dacia. The shareholders of SMC Motor Group will retire from the automotive industry. SLM Group aims to grow their adjusted operating income and looks forward to working with new brand partners.
SLM Group has acquired family-owned SMC Motor Group in a deal that remains undisclosed. SMC Motor Group has been operating four dealerships in Surrey and Hampshire for over 39 years, representing the SEAT, Renault, Dacia, and CUPRA franchises.
On the other hand, SLM Group operates sites in East Sussex, Kent, and East Anglia, consisting of five Toyota dealerships, one Vauxhall dealership, one Suzuki dealership, one GMW ORA dealership, two used car sites SLM Select, and two body repair centers.
This acquisition allows SLM Group to expand its representation points to 16 and marks their first venture into SEAT/Cupra and Renault/Dacia. The sale also leads to the retirement of SMC Motor Group shareholders James Kimber and Anne Knight from the automotive industry.
Mark Phillips, CEO of SLM Group, expressed his enthusiasm for the expansion, stating that it will help grow their adjusted operating income. He also looks forward to welcoming the new colleagues and working with new brand partners in the future.
James Kimber, managing director of SMC Motor Group, expressed satisfaction with the deal, noting that SLM Group shares similar family values and is confident in their ability to continue the success achieved by SMC over the years. Kimber also acknowledged the hard work and dedication of their employees in contributing to the outstanding success of SMC Motor Group.
David Kendrick and his automotive team at UHY Hacker Young represented SMC in the sale. Kendrick praised SMC as a successful regional family-run business and highlighted the rationale behind selling to SLM Group, considering the ongoing consolidation and lack of succession within the business. Kendrick is confident that Mark and his director team will successfully take the businesses forward.
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