Rapleys has advised Marshall Motor Holdings plc (MMH) regarding their acquisition of Ridgeway Garages for £106.9m.
The Rapleys team, led by partner Phil Blackford, provided strategic valuation and property advice to MMH, one of the UK’s leading automotive retail and leasing groups, as part of the due diligence process. Ridgeway is a multi-franchise dealer group operating across the affluent southern home counties of England, Wiltshire and Dorset, representing 12 brands via 30 franchised dealerships.
Described by the company as a ‘truly transformational’ transaction, the strategic acquisition means that MMH will move from 10th to the 7th largest motor dealer group in the UK. The deal was completed on 26 May.
Phil Blackford, partner and head of Rapleys automotive and roadside team, said:
“We are delighted to be asked to assist the MMH acquisition team in providing strategic valuation and property advice as part of the due diligence process. This proved to be an important part of the process, given that the aggregate property value accounted for approximately 50% of the acquisition price.”
Daksh Gupta, chief executive of Marshall Motor Holdings plc, added:
“We chose Rapleys to advise us on the transformational acquisition of Ridgeway due to their track record in the space. We needed confidentiality, expediency, expertise and professionalism, and Rapleys delivered. Thank you Phil Blackford and team Rapleys.”