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Carshop Stand-Alone Used Car Centers Expand U.K

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Carshop Stand-Alone Used Car Centers Expand U.K WWW.PENSKEAUTOMOTIVE.COM A PUBLICATION FOR EMPLOYEES OF PENSKE AUTOMOTIVE GROUP • ISSUE 1, 2017 e-Editione-Edition PAG ACQUIRES CARSHOP STAND-ALONE USED CAR CENTERS EXPAND U.K. OPERATIONS CarShop Doncaster he company announced it has vehicle preparation center in Leighton acquisition along with the acquisition of completed the acquisition of Buzzard. CarShop has received numerous CarSense in the United States strengthens T CarShop, one of the U.K.’s leading awards, including being named U.K. Car our position in our core markets and retailers of used vehicles. CarShop retails Supermarket of the year for two years in a row. provides scalable future growth high-quality used vehicles at fixed retail Commenting on the transaction, opportunities.” prices as part of a transparent customer Chairman Roger Penske said, “The Darren Edwards, CEO of PAG’s U.K. buying experience. acquisition of CarShop complements our operations said, “We are delighted to CarShop has been in operation since existing core auto retail business and welcome the CarShop team to PAG and 1999 and has five large-scale retail locations furthers our diversification strategy within look forward to the opportunities this will operating in Cardiff, Swindon, Northampton, the transportation services industry.” provide to expand and diversify our Norwich and Doncaster, plus a 15-acre Penske continued, “The CarShop business in this sector of the market.” Mercedes-Benz Dealership Comes on Board in Phoenix chumacher European, a Mercedes-Benz and Sprinter The 87,500 sq. ft. premier facility has operated in the Phoenix dealership in Phoenix, Arizona, was acquired by PAG in market for 31 years and incorporates 63 service bays with 47 car SApril. This new dealership is located contiguous to PAG’s lifts and resides on 13 acres. Scottsdale 101 Auto Collection, which currently represents “Schumacher European is a well-respected and fifteen franchises. top-performing Mercedes-Benz dealership,” said Chairman Roger Penske. “This new dealership expands and enhances our premium/luxury footprint in the Phoenix metropolitan market and further strengthens the company’s overall automotive retail portfolio. We welcome the Schumacher European employees to the Penske Automotive Group team and look forward to working with them to grow the Mercedes-Benz business in this important market area.” The acquisition is expected to generate estimated annual revenue of approximately $250 million. The company now operates nine Mercedes-Benz dealerships in the United States. PAG ANNOUNCES 2017 SCHOLARSHIP PROGRAM Please see pages 13-14 for complete details and the application form. The application form may also be downloaded from the PAG Intranet – DRIVE. The deadline for submitting scholarship applications is May 31, 2017. 1 POWERTRAIN e-Edition CORPORATE NEWS Jaguar and Land Rover Dealerships in Paramus Acquired by PAG he company announced the acquisition of the Jaguar and Land Rover dealerships Tin Paramus, New Jersey, from the Prestige Family of Fine Cars. These dealerships were ranked sixth and second, respectively, for their brands in the U.S. in 2016. The acquisition is expected to generate estimated annual revenue of approximately $215 million. Commenting on the acquisition, President Rob Kurnick said, “We are pleased with the opportunity to add the Jaguar and Land Rover dealerships in Paramus to the Penske Automotive footprint. These new dealerships enhance the company’s existing portfolio and bring additional scale in the New Jersey/New York metropolitan area to our business. We welcome the employees to the PAG team and look forward to working with them to grow the Jaguar and Land Rover businesses in this important market area.” The company now operates five Jaguar Land Rover dealerships in the United States. PAG Earns America’s Most Honored Companies Award enske Automotive Group was proud to be recognized as one of Institutional PInvestor magazine’s America’s Most Honored Companies for 2017 in the Retailing and Hard Goods sector, at their seventh annual awards banquet held in New York City and hosted by Tyler Mathisen, CNBC Power Lunch and Nightly Business Report Co-Anchor. The magazine celebrated the 171 U.S. companies that rank at the top of their All-American Executive Team rankings for their corporate leadership and investor relations expertise as voted on by the investor and analyst community. Over 2,275 investors and 900 analysts cast votes for more than 2,200 companies in this year’s All-America Executive Team survey. Of those, 171 were named America’s Most Honored Companies for achieving two or more published positions in the combined (buy-side and sell-side) rankings. Chairman Roger Penske had the honor of being voted as the #1 CEO in the category, and Tony Pordon, EVP of Investor Relations and Corporate Development, was voted as the #1 Investor Relations Professional. 2 POWERTRAIN e-Edition CORPORATE NEWS CarSense Acquisition Completed AG’s acquisition of CarSense, a stand-alone specialty transparent buying experience. PAG Central Region Pretailer of used vehicles in the United States, was Executive Vice President Whit Ramonat said, “We are completed in January. pleased to welcome the CarSense team to PAG, and we look forward to combining our resources as we expand our CarSense has five locations operating in the Philadelphia share of the highly fragmented used vehicle marketplace.” and Pittsburgh, Pennsylvania market areas, including southern New Jersey, and is dedicated to reconditioning The acquisition is expected to generate estimated annual and retailing high-quality, late-model used vehicles at revenue of approximately $350 million. no-haggle prices through a friendly, comfortable and THE SUNDAY TIMES SYTNER GROUP TAKES FIRST PLACE AT THE BEST30 BIG COMPANIES BEST BIG COMPANIES TO WORK FOR AWARDS TO WORK FOR 2 0 1 7 L-R: Jonathan Austin – CEO Best Companies; Justin Turner – Divisional HR Manager VWSS; Andrew Ogram – Director of IT; Lorraine Deeley – Divisional HR Manager BMW; Adam Collinson – CFO; Mike Pierce – Managing Director, Sytner Finance; Darren Edwards – CEO; Melvin Rogers – Director of HR; Francesca Summers – HR Projects Manager; Paul Hudspith – Group Recruitment & Talent Manager; Sue Sansome – Head of Learning & Development; and Ben Shephard – Host/TV Personality. The Sunday Times Top 30 Best Company award ceremony was held in London to recognize companies for their efforts in creating a workplace where employees feel positive and motivated. After eight successive years within the Top-5, Sytner Group was awarded top spot as the UK’s Best Big Company to Work For 2017. ocusing entirely on employees, each year the results are career opportunities within the trade and arranging workplace Fdetermined by a survey that is sent out to all members of the tours and work experience for young people. company, completed in confidence and then submitted directly to Darren Edwards, PAG’s CEO of U.K. Operations, said, “I am very the Sunday Times. This year, of the eight factors considered by the proud that the “One Team” ethos at Sytner Group has been survey, Sytner Group gained top-10 scores in all of them—leading recognized by the Sunday Times. Having engaged employees is the rankings for ‘My Company’ and ‘Personal Growth.’ fundamental to our approach and they underpin the success of our Complementing their first-place finish in the Best Big Companies to whole business. It is great that our hard work has been reflected in Work For category, they also earned a special award for Innovation our first-place position.” in Engagement. This award recognizes their efforts to change the perception of the sector through, among other things, their dealerships’ partnerships with local schools, presentations about 3 POWERTRAIN e-Edition CORPORATE NEWS OVEROVER $1$1 MILLIONMILLION DONATEDDONATED TOTO PARALYZEDPARALYZED VETERANSVETERANS OFOF AMERICAAMERICA Service Matters Campaign Extended Throughout 2017 AG teamed up with the Paralyzed serve our nation’s veterans, and to Veterans of America (PVA) in ensure those veterans have access to Psupport of the Mission: ABLE programs and services to help them campaign that helps ensure severely recover and rebuild their lives after injured veterans receive jobs, care and serious injuries. We are beyond grateful benefits. As a result of outstanding for this partnership and truly appreciate dealership support and very generous their long-term commitment to veterans.” customers, PAG recently presented the PVA with a check for $1,077,270. Given the great execution and success of the 2016 campaign, PAG will continue to Since its inception in 2015, PAG’s Service support the Mission: ABLE campaign Matters campaign has contributed over throughout 2017 and invite customers to $2 million to the PVA. Our support plays a donate a $1 or more toward Mission: vital part in PVA’s ability to continue ABLE. To multiply the impact of serving our nation’s veterans. customers’ contributions, PAG will continue to match each donation—up to In pre-match figures, PAG stores in the $500,000. Since the launch of the 2017 West Region raised over $212,000 in Service Matters campaign on January 1, donations for the 2016 campaign, with the PAG match, more than $237,000 accounting for more than 41% of PAG PAG President Rob Kurnick presents a check for has been raised toward Mission: ABLE. store donations. Included in the West $1,077,270 to Tom Wheaton, National Treasurer donation is $47,000 raised by the entire of PVA. “It was an honor for Penske Automotive Arizona team, the largest amount among Group to be part of this fundraising effort all areas. The Central Region raised over in 2016,” said President Rob Kurnick. $153,000, the East Region raised over “We thank our associates and our “We thank our associates and our $130,000, and Premier Truck Group customers for their continued support of customers for their continued support of raised over $20,000. the Service Matters campaign and for the ‘Service Matters’ campaign and for embracing the admirable work performed embracing the admirable work “Penske Automotive Group continues to by the PVA.” performed by the PVA.
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