Gilder Group has bought Heron Volkswagen Group for an undisclosed sum.
Heron, which represented Volkswagen cars, commercial vehicles and also Trade Parts Specialists, has been established in Newark for more than 20 years until the directors took the decision to retire from the industry and put the business on the market.
Gilder Group, representing Audi, Volkswagen, Seat and VW commercial vehicles in Sheffield, Rotherham, Chesterfield and Doncaster, took the decision to strengthen their brand and geographical representation.
Garry Scotting, CEO of Gilder Group, said: “The acquisition will kick start our return to the growth strategy that has been on hold for the last two years. With a current turnover of £14m it will put Gilder’s turnover at more than £200 million and the 50 new staff will put us over 500 employees.
“Our existing Volkswagen LCV business and our TPS business butt up to the newly acquired territory and make for a great fit in terms of market area cover."
The deal was done through ASE’s Dealermatch service.
David Kendrick, transaction manager at ASE, said: "After a couple of tough years in the industry it appears there is still some uncertainty as to the challenges ahead which are reinforced by the decision of the Heron directors to sell and retire from the industry."