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UHY's David Kendrick tells AM News Show podcast Steven Eagell has the golden touch

Steven Eagell has "the golden touch when it comes to Toyota and Lexus businesses", according to one industry expert, and this explains why Eagell's takeover of a vast swathe of Marshall dealerships makes much sense. 

Shortly after Canadian auto retailer Kuldeep Bilaan's takeover bid for Lookers was announced and the USA's Lithia & Driveway acquired Jardine Motors Group, UK motor retail industry expert and dealmaker David Kendrick joined AM in the recording studio for the latest episode of the AM News Show podcast.

UHY Hacker Young Manchester's chief executive Kendrick had only weeks before presented the AM Award for Strategic Success, in association with UHY Hacker Young, to Steven Eagell himself in recognition of the robust growth his dealer group had achieved since its beginning as a single site car dealership.

During the podcast recording at Armchair Marketing's studio in Northamptonshire, AM editor Tim Rose asked Kendrick for his thoughts on the significant dealer group M&A activity of recent months, and whether it's still the tip of an iceberg. 

Kendrick told the AM News Show: "I'm not sure if we'll see them more frequently, because when you look at the AM100 and the top 25 which is where the substantial scale is by turnover, there's a chunk of plcs, a chunk of internationals and then some long established family businesses that have management teams and may be held in trust for the beneficiaries. There may be the odd one, but I wouldn't anticipate two of three a year of that ilk.

"There'll probably be more movements in the 20 to 100 of the AM100 where you have successful regional groups that have come to the end of a shareholder's era and it's time to move on."

Watch the full 20-minute discussion above, and for more AM News Show podcast episodes click here.

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