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Car dealer Stoneacre makes its biggest acquisition in more than 20 years

Stoneacre logo

Stoneacre has taken over Huntson Holdings, which trades as Autoworld Abarth, Alfa Romeo, Citroen, Fiat, Hyundai, Suzuki, Seat and Volvo at a multi-franchise autopark in Chesterfield.

The £85 million turnover addition will push Stoneacre’s group revenues past the £500m mark as it continues on a strategy to build a £1bn turnover motor retail business.

It is Stoneacre’s largest acquisition since it was founded in 1994.

Group managing director Shaun Foweather said: “The acquisition of Autoworld extends our relationship with a number of manufacturers. It also firmly highlights our strategy to grow Stoneacre as a group across the UK.

“The business we are acquiring has a history of strong profits due to some great people working there and we very much look forward to welcoming them into the Stoneacre family.”

The acquisition of Autoworld, which employs around 230 people, also includes its Triumph and Harley Davidson franchises.

UHY Hacker Young’s automotive partner David Kendrick represented Autoworld in the sale, which sees its former owners, the Priestnall family, exit the automotive sector.

UHY said the company delivered a profit before tax of £1.4m on £78m sales in 2014, with net assets of £10.4m

Kendrick added: “Autoworld is a fantastic business that has delivered strong profits for a number of years now.

“This transaction again highlights the fact that the larger groups are continuing to consolidate and is a statement of intent from Stoneacre that they are looking to grow to this £1bn turnover target.”

The Autoworld multi-brand site in Chesterfield

Autoworld location map

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