Family-owned SMC Motor Group has been acquired by SLM Group for an undisclosed sum.
SMC Motor Group has operated four dealerships in Surrey and Hampshire with the Seat, Renault, Dacia and Cupra franchises for over 39 years.
SLM Group operates sites in East Sussex, Kent and East Anglia, comprising five Toyota dealerships, one Vauxhall dealership, one Suzuki dealership, one GMW ORA dealership, two used cars sites SLM Select plus two body repair centres.
This acquisition takes SLM’s up to 16 representation points as well as their first foray into Seat / Cupra and Renault / Dacia. The sale sees SMC Motor Group shareholders James Kimber and Anne Knight retire from the automotive industry.
Mark Phillips, chief executive of SLM Group, the trading brand of St Leonards Motors, said: “We have been keen to expand for some time now and with the addition of SMC Motor Group, allows us to grow our adjusted operating income. We look forward to welcoming our new colleagues into the business and are excited to work with some new brand partners moving forward.”
James Kimber, managing director of SMC Motor Group added: “I am pleased to have concluded a deal with SLM Group who have very similar family values to ourselves and have no doubt they will continue the success we have managed to achieve at SMC over the past 39 years.
"We would like to pay tribute to the hard work and commitment of our employees and for the contribution to the outstanding success SMC Motor Group has been able to achieve.”
SMC was represented in the sale by David Kendrick and his automotive team at UHY Hacker Young. Kendrick said: “SMC has been successful regional family run business for as long as I can remember. With the continued consolidation going on and lack of succession within the business, selling to SLM Group makes complete sense and I am sure Mark and his director team will make a huge success of the businesses moving forward.”