Automotive Sector

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Automotive Sector Automotive sector Our expertise Dedicated automotive corporate finance team with over 15 years’ experience working with privately owned businesses, grooming them for an eventual sale. Helping you prosper Automotive OUR AUTOMOTIVE SECTOR EXPERTISE Despite ongoing concerns regarding the sustainability of traditional Working in automotive retailing, performance in recent years has been strong and partnership, buoyed by a gradual recovery from the deepest recession in living memory. However the industry is more complex than is the norm for retail and, with our aim is traditionally narrow margins, there is a fine line between success and failure. Now more than ever dealerships need advisers with a dedicated knowledge of to maintain the industry, who can rapidly understand the issues and provide constructive a close, recommendations to make a real difference to profitability. We believe our role as a key adviser to the sector is not just to help you with your supportive day to day accounting and business issues, but help you anticipate and overcome relationship the inevitable challenges that the sector will continue to face moving forwards. that provides BENEFIT FROM OUR DEDICATED AUTOMOTIVE TEAM Our automotive service offering is led by four partners who are totally dedicated valuable input to the sector and have considerable experience in the motor industry. We provide into your expert advice to dealers on business management from audit and taxation to mergers and acquisitions and operational issues such as CSI and enquiry business. management. By providing support to our wider national automotive team, we are able to offer a local responsive service combined with deep and wide ranging automotive skills and experience. With a client base that ranges from the supply chain to large franchise dealership groups, our experience includes dealing with automotive clients from a local and regional perspective, to working with a significant number of the Motor Trader Top ‘The UHY 200 franchised dealer groups in the UK. automotive team Working in partnership, our aim is to maintain a close, supportive relationship that have an excellent provides valuable input into your business. understanding of the motor sector together with the challenges and issues which motor dealers face.’ Craig Glanville, Group financial director, Heston Garages Group Ranked 21st in Motor Trader Top 200 www.uhy-uk.com Helping you prosper HELPING YOU ACHIEVE YOUR GOALS We advise on all aspects of running a business in the automotive sector and have helped many clients to make long term and positive changes in their businesses. Our dedicated automotive corporate finance team has considerable experience working with privately owned businesses, grooming them for an eventual sale. This process ‘I chose UHY Hacker may be anything from 6 months to 10 years in planning, but it Young to lead our delivers significant returns on exit if properly executed. exit strategy having CORPORATE FINANCE SUPPORT FULL DEAL MANAGEMENT SERVICE concluded that they If your future plans include buying or Our dedicated automotive corporate had the superior selling a business, or raising equity or finance team has considerable debt finance to facilitate growth, you will experience working with privately automotive M&A need specialist corporate finance owned businesses, strategically working track record and support. with them towards an eventual sale. Our automotive team includes corporate We can advise you on the entire industry knowledge. So finance specialists who have advised on transaction, from initial approaches to it proved out, with over 150 transactions in the sector and negotiations and completion. Our who have considerable experience experience allows us specialist our transaction being bringing parties together and helping understanding of motor retail facilitate deals. We will help you to transactions and the operational expertly handled from maximise the value of your business by processes that can affect these the IM, through due working closely with the manufacturer, transactions, meaning that we will as a key stakeholder, to select the right provide you with a unique and highly diligence, contract partner. relevant service which ensures you achieve the best possible outcome. negotiation and on to Our automotive corporate finance services include: We provide a full deal management completion. I set an service and will manage all parties • Confidential targeting exercises involved in a transaction (buyer, legal ambitious time line and • Funding advice team, DD team) to a successful close, the deal was completed • M&A and transaction support leaving you to continue running the day to day operations. inside 5 months. The UHY • New market entry assignments team did a great job • Sponsored dealer programmes and I can confidently • Strategic advice • Valuations recommend them.’ Philip Maskell, owner, Essex Auto Group www.uhy-uk.com Helping you prosper RELEVANT AND INFORMED A DYNAMIC TEAM WITH EXTENSIVE EXPERIENCE CONTACTS Judging the correct moment to exit Our dedicated automotive offering is led against a backdrop of varying factors is by David Kendrick and Paul Daly who a complex decision and having the right are often referred to as the leading ‘They helped in a advice is critical. We believe timing has specialist advisors to the sector by many never been as important and we are CEO’s. As a result, they have access to a number of key areas well versed in working to ambitious specialist database of relevant including valuing the timetables and, utilising our extensive automotive contacts, giving us a unique experience in the execution of position to ensure that we have the best business, assisting transactions in the sector, will deliver possible acquirer list to drive the deal significant returns on exit. value. with discussions with We have successfully brought several Both rank in the Top 3 most active the manufacturer, franchises to market in recent years. Manchester-based professionals in the negotiating with Our M&A activity in 2017 included the financial sector (according to Experian’s successful sale of a number of Annual Corporate Finance Review potential purchasers automotive businesses including the sale 2016), testament to their success and of Pentagon Group, Grassicks, Trainer the quality of work they deliver. In and presenting the BMW & Mini, Beadles Group, Essex recognition of their success and quality business for sale in Auto Group Limited and Cambrian of work they deliver, they were also Garages Limited. Our approach is to awarded Advisory Team of the Year by the best possible work with our clients to present the the 2017 Corporate LiveWire Finance business for sale in the best possible Awards. light. They have light and ensure everything is done so achieved an excellent that maximum value is achieved when the business goes to market. result for Perrys Our extensive experience in the sector and really helped us means that we are well-placed to realise the best deal for you as shareholders. maximise our sales price.’ Ken Savage, Chairman, Perrys Ranked 17th in Motor Trader Top 200 www.uhy-uk.com Helping you prosper RECENT TRANSACTIONS The UHY Hacker Young automotive team were involved in more than 1/3 of the successfully completed transactions within the automotive retail market in the last three years, advising on both the buy and sell side. ‘We selected UHY We have a particularly strong track record of helping sellers to achieve their longer term objectives and of selecting the right partner to ensure the successful completion of a deal. Hacker Young as our Recent highlights include: professional advisers for the sale of Beadles Group due to their Pentagon Beadles Group Grassicks Garage strong reputation and August 2017 July 2017 July 2017 specialist automotive Sale of Pentagon Motor Sale of Beadles Group Ltd to Sale of Grassicks Garage Ltd Holdings Limited to Imperial Group 1 Automotive to Eastern Holdings Ltd expertise. They produced Holdings SA a high quality document Deal value: £28.1m Deal value: Undisclosed Deal value: Undisclosed and negotiated a very good deal for the Essex Auto Group Trainer (Holdings) Cambrian Garages sale of the business March 2017 July 2017 March 2017 with Group 1 which Sale of Essex Auto Group to Sale of Trainer (Holdings) Sale of Cambrian Garages Super Group Limited to Sytner Group to Rubery Owen, t/a Shukers completed in a very Land Rover smooth manner. I would Deal value: Undisclosed Deal value: Undisclosed Deal value: Undisclosed have no hesitation in recommending their Caffyns Vertu Motors Perrys Motor Sales services to any motor April 2016 March 2016 February 2016 retail business looking Sale of Lewes Land Rover by Acquisition of Sigma Holdings Sale of Perrys’ Land Rover Caffyns Plc to Harwoods Ltd and Greenoaks Ltd by and Jaguar dealerships to the to expand or exit.’ Vertu Motors plc Rybrook Group Tim Humphries, financial director, Deal value: £5.7m plus stock Deal value: £21.9m Deal value: Undisclosed Beadles Group Limited Spire Automotive Drayton Group Vertu Motors February 2016 August 2016 June 2016 Sale of Spire Automotive Ltd Disposal of Warwick Holdings Acquisition of Gordon Lamb to Group 1 Automotive t/a Drayton Group to Lookers Ltd by Vertu Motors plc plc Deal value: £18.7m, Deal value: Undisclosed Deal value: £55.4m including £8.3m of goodwill www.uhy-uk.com Helping you prosper A DEDICATED AUTOMOTIVE TEAM David Kendrick Paul Daly Automotive partner Automotive partner David is Corporate Finance (CF) qualified, Paul is an experienced audit partner with with over 16 years’ experience working a portfolio of clients focused around the closely with key clients and contacts to automotive sector. In addition, he regularly understand their long term objectives and then assisting leads other advisory work spanning with action plans to achieve these. He has acted as a transactions, due diligence and business restructuring. trusted advisor for numerous listed and privately owned Initially working within a ‘Big Four’ firm, Paul then moved businesses, working closely with them to maximise value into industry at a FTSE 100 group.
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