ASE has launched a joint venture with Dealer Solutions North America to help North American motor retail groups buy UK dealerships.
Toronto-based Dealer Solutions has recently expanded its operations to the United States bringing it into contact with a large number of North American motor retailers who have a desire to expand their footprint into the UK.
ASE has helped facilitate many motor retail transactions.
Mike Jones, chairman of ASE Global said: “Across the globe the UK is seen as a highly advanced, stable motor retail environment. This makes UK motor retailers highly desirable and has been evidenced over recent years by the number of group acquisitions we have seen from overseas investors.
“With the value of sterling dropping 10% against the US dollar over recent months the UK is viewed as a cheap, safe and exciting place to invest, even in spite of the current challenge of WLTP and the impending disruption from Brexit. Our new partnership with Dealer Solutions is simply the next step in leveraging our knowledge and expertise across a market with an increasing international perspective.”
Farid Ahmad, president and CEO of Dealer Solutions, added: “Recently we have noticed an increase in the number of well-structured and highly organised dealer groups looking to international dealership acquisitions to support their aggressive growth strategies.
“The challenge for many of these larger operators is finding the correct type of business to complement their growing portfolios and more often than not that profile is increasingly looking like a UK based or European Business with a strong management team that is running a tight business with strong manufacturer relationships. For this reason we have decided to partner with ASE global as their knowledge of the UK Automotive sector is second to none whilst having an unrivalled network of contacts across both brands and retailers within UK motor retail.”