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Marshall Motor Group acquires Silver Street Automotive

Marshall Motor Group has acquired 10 site group Silver Street Motors for an undisclosed sum.

The acquisition will take Marshall’s group turnover to almost £1 billion and adds the Audi and Skoda brands to its franchise portfolio for the first time.

The deal includes three Audi businesses (Exeter, Plymouth and Taunton); three Volkswagen cars businesses (Barnstaple, Bridgwater, Taunton); two Volkswagen commercial vehicles businesses (Barnstaple, Bridgwater); Škoda in Barnstaple and the Trade Parts Specialist business in Exeter.

The acquisition takes the total number of franchised dealerships in the Marshall portfolio to 70 and will push the business one place up the AM100 table above Greenhous Group to 11th place.

Under the terms of the agreement, all 324 colleagues at these sites have transferred to Marshall, taking the headcount to around 2,300. The combined group’s turnover for 2012 is £927m with Silver Street accounting for £115m.

Daksh Gupta, Marshall chief executive told AM: "For some time Marshalls has been seen as one of the most aggressive groups when it comes to acquisitions.

"This latest deal brings an end to that policy for the time being. That's not to say we won't consider further, smaller scale opportunities should they arise, but our main focus now will be on maximising the value of the massively expanded business we have become - and the brands Marshall represents."

Since early 2009 Marshall has been acquiring businesses in a bid to stretch out from its East Anglia base and create a national dealer group – moving from a turnover of £250m to £927m. It has acquired sites in the midlands, the north east, north west and now the south west over the last four years, making 70% of its portfolio new businesses.

The group has welcomed 1,500 new members of staff to the business. All of the acquisitions have been funded by Marshall’s own cash flows and have involved no debt.

The new Audi businesses will be overseen by David Waghorn, a Marshall franchise director with prestige brand experience.

The Volkswagen businesses and the Škoda business will be run by Chris Norris, the Marshall brand director for Volkswagen who joined the family-owned group in 2012 following the company’s acquisition of their first Volkswagen businesses.

Marshall Motor Group geographical spread (green) and Silver Street Automotive network (black) (source AMi):

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  • Karl Davis - 20/02/2013 13:05

    Marshall Group have aquired a well runn business and some great new colleagues. It has been our pleasure to support Silverstreet over the past couple of years and we wish all concerned continued success. Karl Davis, MD,Coachworks Consulting Limited.

  • sgcb - 20/02/2013 13:48

    Karl you obviously haven't looked at their accounts recently!Try company check on google before you make a statement like that.

  • audi123 - 20/02/2013 15:07

    sgcb, you obviously don't know the staff or the business that well either! Silverstreet has among the most dedicated and capable staff in the business and has purely not been able to compete with the demands imposed on it by the Manufacturers due to a lack of cash in the bank. Perhaps now they will be able to go from strength to strength with the backing of Marshall and a lack of debt that has thwarted it.

  • Karl Davis - 20/02/2013 16:53

    As someone who has never been afraid to offer my opinion openly, without the need of a false moustache and glasses for disguise, I stand by my earlier comments sgcb - whoever you are? Even after 30 years in the industry with retail, manaufacturer and for the past 12 years consulting experience, I can tell you that I haven't got all of the answers. I do know, however, that it's much harder for retailers to make money in todays climate, than to read a set of accounts. 50% of motor retailers forecast a loss for 2012, and that included premium brands too. Whilst insolvencies overall are slowing, in the motor retail sector they are speeding up - averaging more than 10 a week. The number would be even greater if the larger groups were not being so aquisitive! I know the former directors of the Silverstreet business well, and of course their trading position to date. They are good people that will find their ways into other senior roles within the industry if they wish. Motor retailing with premium brands is a cash hungry business, and Marshall Motor Group has the cash to take the Silverstreet forward. Rather than just ofering an armchair opinion about our industry, I'm passionate about offering practical support for retailers. In support of the smaller groups and independents, I'm co-hosting a Directors' Workshop called "Pole 2 Pole" on 7th & 21st March in Birmingham and Newbury respectively. As the title suggests, it's designed to address the polarity in retailers performance. When cash is tight you have to turn stock quicker and sweat your assets. Pole 2 Pole will reveal the guerilla tactics and world class habits to more actively manage working capital, people, performance related pay and relationships with banks. Karl Davis, MD, Coachworks Consulting Ltd.

    • sgcb - 20/02/2013 21:30

      @Karl Davis -you are right Karl! You said it all in your last paragraph they didn't obviously make enough or manage it!