Ten staff have moved with the business list to Bramall Contracts, and a sales team will be recruited.
Black-I was operated from Harrogate, North Yorkshire, where Bramall and Jones is based. Tony Bramall, group chairman, says: “You need a leasing company in an integrated motor dealer group. The opportunity to buy Black-I’s book came up and, although it is small, it gives us a good foundation to build on.”
Bramall, who sold CD Bramall to Pendragon two years ago for £230 million, says he has no ambitions to build another large business. He and Peter Jones, a director of the group, now have six Audi and Volkswagen dealerships.
Bramall says his group’s turnover is now running at just over £100m, and he and Jones intend to expand into other brands when the opportunities arise.
A group with a turnover of around £300m is thought to be the target.
The strategy is to develop a group in north-east England, Yorkshire, the M62 corridor, Lincolnshire and the East Midlands.