Rybrook Holdings has acquired Paymill Motor Holdings Limited which trades as Benham Wolverhampton for an undisclosed sum.
The Benham acquisition sees Rybrook Group add the business to its existing BMW and Mini locations in Shrewsbury, Stratford-upon-Avon, Warwick and Worcester.
The dealership will be rebranded Rybrook Wolverhampton.
Henry Whale, managing director of privately owned Rybrook, said: “The purchase underpins the group’s strategic aim to expand our retailer network and be the leading privately owned automotive group specialising in premium brands.
“Alongside our other BMW and Mini businesses, the purchase of Benham is a perfect strategic fit as it adds to our contiguous BMW and Mini representation around the Midlands and I am certain that this will not only be beneficial to the Wolverhampton site but also to our existing BMW Group businesses.”
Paymill owner Steve Mills said: “I am very proud to have spent the past eight years building a successful business working with great brands in BMW, Mini and Motorrad.
“I would like to thank the team at Benham for all their support and hard work and I have total confidence that this team, with the support of Rybrook, will continue to grow and prosper.”
ASE advised the vendor. Chairman Mike Jones said: “This is a great acquisition for Rybrook, further expanding their representation with BMW and Mini complementing their existing territories whilst also adding Motorrad to their portfolio.
“I am delighted to see a successful exit for Steve Mills, who built a greatly respected business in Benham.’’