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City Motor Holdings gets 12th dealership

City Motor Holdings has increased its portfolio to 12 car dealerships after taking over the Marshall's Peugeot business in Newbury.

It will trade as City Peugeot and joins the group's existing neighbouring Newbury business, Gowrings Ford, to operate as City Motor Holdings' third Autoplaza site, after similar multi-franchise operations in Basingstoke and Reading.

It is CMH's third Peugeot franchise. It is a shareholder purchase.

Managing director Steve Hemlock said: "We’ve got a lot of expansion on the cards all planned for completion by the end of 2014. This involves some revamping of existing premises and we’re also working on some new ones due to launch in 2015."

"We will expand with franchises we’re comfortable with in an area we like, and as a financially strong company we’re always looking at other opportunities."

Hemlock was operations director at City Motor Holdings when in 2012 he led a management buyout, backed by RCapital, of the £90 million turnover business from then owner Anthony Wickens.

That was the third MBO as Wickens had steadily downsized the business, which was in the AM100 and turning over £195 million at its 2005 peak, to leave his son Mike running its Mercedes-Benz operation in the South West of England.

Hemlock said his company has been turned around since the MBO. It has increased its workforce from 250 to 310 employees.

Marshall's Peugeot in Newbury was operated by Marshall Roebuck, not Marshall Motor Group.
 



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