Drayton Motors has completed the acquisition of Grantham Kia operator Victor Wood Group for an undisclosed fee.
The award-winning group adds a third Kia Motor UK franchise to its single brand, three site operation, which previously comprised of sites in Louth and Boston, in a transaction advised by ASE Automotive Solutions.
Wilson and Co (Kia) Ltd, trading as Drayton Motors, purchased the entire share capital of Victor Wood Group through the move.
Victor Wood Group shareholder and managing director, Tim Griffin, said: “After nearly 50 years working in our family business that my father-in-law founded in 1949, I feel overdue for retirement. and I wish Robin Wilson and his family every success in taking the business forward.”
Robin Wilson, the owner and managing director of Drayton Motors, which was profiled by AM Magazine as the UK entered its first COVID-19 lockdown last Spring, said: “We’re very pleased and excited to welcome the Victor Wood team into the award-winning Drayton Motors family and look forward to building on the success of this long established Kia dealership in Grantham. I would like to wish Tim a long and happy retirement.”
ASE Chairman, Mike Jones, who brokered the deal and advised the shareholders said: “It’s great to see Tim and the remaining shareholders complete the exit they were looking for. It has been a pleasure working with them on the deal and I’m glad to have helped them achieve the final outcome. I wish them all the very best for the future.”
“The Kia business was a natural fit for Robin and the team at Drayton, already holding two representation points with the brand in Lincolnshire.
“This acquisition will no doubt enable his business to go from strength-to-strength with Kia continuing to establish themselves as a strong and respected brand. I wish Drayton every success.”