Hendy Group expects to scale the AM100 with a turnover of over £1 billion following its acquisition south coast-based Westover Group.
Hampshire-based Hendy should add considerably to the £555 million revenue it achieved in 2017 to climb into the AM100’s top 15 (2018: 29th) with the acquisition of 46th-placed Westover, which achieved a turnover of £336m in 2017.
Hendy chief executive, Paul Hendy, described the acquisition as a key milestone for the company, which celebrates its 160th anniversary in 2019.
“Westover is a hugely successful group and shares our philosophy of delivering a premium service and putting the customer and its employees at the heart of operations,” he said.
“It’s very much business as usual and all the dealerships will continue under the Westover name for the immediate future as the business is integrated into the Hendy Group.”
This acquisition comes less than three years after Hendy bought AM100 group turnover Lifestyle Europe, which broadened Hendy’s operating area eastwards as far as Tunbridge Wells and added around £180m turnover, taking it past the £500m point.
In January Hendy bought Hampshire-based Seward Group, which had a Renault/Dacia dealership in Portsmouth and a Suzuki outlet at Havant.
Westover Group has dealerships clustered in the Poole region and Salisbury area. Most represent mainstream brands, but it also holds Jaguar Land Rover, Lexus and Lotus franchises.
Hendy Group now operates 26 franchises from 83 outlets and employs over 2,000 people.
The group said in a statement that the move for Westover not only grows its turnover, but also reinforces the its portfolio in Dorset, where the group already operates truck dealerships.
Hendy also operated car dealerships in Dorset from 1913 to 1998 and the county continues to be home to a number of the Hendy family members.
Westover chairman, Peter Wood, said: “After more than 50 years in the motor industry I have decided that it is time to bow out. Westover has been my passion now for more than 40 years and to find a suitable company to hand it over to which has the same ethos of looking after its staff and customers has not been easy.
“We believe that in Hendy we have found that, and from the beginning of my discussions with Paul Hendy it became clear that the manner and way we operate our businesses was very similar.
“It has been a long and interesting journey with Westover, starting as sales director in the mid-70s though to managing director in 1979 then leading a management buy-out in 1984. At that stage Westover was two branches with Austin Rover and 80 employees.
“I am very proud of what the managers and staff, many of whom are still with Westover Group, have achieved in the past 40 years.”
As part of the new structure Paul Dillon remains with the group and will continue as managing director.
Hendy said: “Our investments and acquisitions in the last few years have put us in an extremely good position for the future and the integration of Westover will strengthen this position still further as we continue to look to the future.”