John Tustain, who sold his Bristol Street Motors dealer group to Vertu Motors in 2007, has revealed plans to build another group in the midlands and north of England.
His new company, Tustain Motors, has just taken its first step, acquiring two Vauxhall dealerships in Northumberland.
Now Tustain aims to acquire more dealerships in the north, particularly those with Ford franchises although he also wants to increase market share with Vauxhall.
His objective is to build a group of around 10 to 15 dealerships.
Tustain has a long history with the Ford and Vauxhall franchises. Since the 1990s he and Paul Williams, now Vertu Motors’ chairman, were joint chief executives of Bristol Street Motors, which had become a £500 million turnover group with 32 sites when it was sold to Robert Forrester’s Vertu Motors in 2007.
Tustain has taken the chairman’s role at his new venture.
He has been joined by managing director Brian Baxter and financial director David Storey, both formerly at Vertu.
The purchases of Ashington’s Vauxhall site from Milburn Motors Garages and Alnwick Vauxhall from Willis of Alnwick was funded by Lloyds Bank.