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Swansway heads for AM100

The group was formed after the acquisition of the LC Charles & Charles Audi dealership in Crewe and employs 210 staff. A focus on training, aftersales and volume sales is set to push the balance sheet past the £100m turnover mark.

It signals the return to the motor trade of Michael Smyth, former chairman of the RRG Group of Toyota, Lexus and Peugeot dealerships. Smyth is not ruling out further acquisitions.

“The first priority is to make the business as profitable as possible, but if the right opportunities come along then we will be able to capitalise,” he says. Piers Trenear-Thomas, client services director for Grant Thornton Motor Retail, says Smyth's return to the trade will be one to watch. “He has always been an innovative player and blessed with a little bit of luck, and a little bit luck can do wonders,”says Trenear-Thomas. Each site will trade under its existing name and no redundancies are expected. Mike Pawson has been named as financial director – Smyth and Pawson worked together at Elton Vehicle Contracts. Swansway privately acquired LC Charles & Charles' Western Road VW car, VW commercial and Seat dealerships in Crewe for an undisclosed sum. The group also has Audi outlets in Stoke and Stafford.

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