Hatfield Peugeot has been sold to Spire Automotive Limited for an undisclosed sum.
The site was previously owned by the Automotive Retail Group, trading as Autoplanet,
Spire Automotive Limited was created by a management buyout from HR Owen in July 2006, acquiring its three Audi dealerships.
Since then owners, managing director Darren Guiver and Kim Richardson, finance director have, grown the business through acquisition.
The deal sees it represent Peugeot for the first time.
David Kendrick, transaction manager at ASE, said:
"This deal was completed in a short timescale which is an achievement in itself with the financial focus on the sector at present.
"The acquisition should be an ideal fit for Spire who already operates a business in Hatfield.”
Spire remaining Audi sites are in Whetstone, Watford and Finchley Road.