Consultant Forester Grant Associates has acquired a substantial shareholding in Network Automotive Management.
The investment deal includes the appointment of a new executive management team. Frank Lord, who is a group non-executive director at Forester Grant, is interim managing director at NAM. He is well known in the motor industry, having held senior positions at both the Henly and Appleyard dealer groups. Lord also developed the first MBA in automotive retailing.
Peter Cameron, a director and shareholder at Forester Grant, has been appointed executive director at NAM and is best known for having been fleet sales manager at Fiat Auto UK among other senior posts. Finally, Bryan Phillimore becomes chairman of both NAM and Forester Grant.
Previous NAM directors are leaving the company through a mixture of retirement or redundancy. No other job losses are expected.
“Forester Grant and Network share a similar client base but specialise in supporting different areas of motor manufacturer activities. Working together, the two companies can offer dedicated support services across both sales and aftersales,” says Phillimore.
Phillimore adds: “We believe that a new energy has been brought to Network. Client relations are being raised to a new level and staff are excited about the possibility of adding new customers in the coming months.
“The match between Forester Grant and Network appears to be ideal. Manufacturers can use us as a single point for almost any kind of consultancy and support that they may require. The potential here is considerable.”
A handover between the new and old management teams at NAM has been underway for some months. NAM will continue to operate from its Dunstable offices while Forester Grant remains based in Harefield, Middlesex.