New & used vehicles

Business description

The company is a highly-regarded retailer of a wide range of new, used, and Motability vehicles nationally on a wholesale and retail basis. The company also provides servicing, maintenance, warranty, and parts, primarily to

customers based across the Midlands.

The business holds a majority share of the local car sales market and has developed an excellent reputation and an established online business, meaning that it is ideally positioned for a new owner to pursue further
development.
The company is now being offered for sale to facilitate retirement plans and other, unrelated business interests.
Offers invited.

Highlights

Graded ‘A’ Vauxhall franchised retailer meeting all targets set by the franchise and operating to an exceedingly high standard.
Ford appointed service, warranty, and parts franchise holder.
Holds over 300 used vehicles at any one time, with approximately 160 Motability vehicle accounts providing recurring revenue through service and repairs.
Has achieved a rating of 4.8 on Trustpilot across more than 2,300 reviews.
Benefits from a wide-ranging and diverse customer base.
The company is currently focused on expanding its used car operation by adding more stock and creating more appeal for the used car operation by rebranding it.
Increasing all marketing activities and developing the sales of vehicle parts through its online shop could significantly expand the company’s turnover.
Strong second-tier management team in place.
Operates from three adjacent freehold sites of a total of three acres that have recently been refurbished with new security fencing added.

Financials

	Turnover (£'000)	Adjusted EBITDA (£'000)
2019 (Actual)	13,119	398
2020 (Actual)	13,863	411
2021 (Actual)	18,711	806
2022 (Actual)	31,148	1,316
2023 (Actual)	21,227	642

Turnover in excess of £21m in YE23, with an adjusted EBITDA of £640k.
Extensive refurbishments to the sites disrupted business during YE23. However, our client expects to see growth in YE24 that will place turnover back on track to meet that of YE22.
Forecast of £32m for YE24 with an adjusted EBITDA in excess of £1.6m.
Extensive net asset value in excess of £2.2m.
Strong pipeline of 85 new car orders and 40 Motability orders for this financial year in place.
Premises valued in excess of £2.5m.
Our clients suggest that marketing the company’s service operation across adjacent available territories could increase its audience by over 400%. This could, in turn, increase service revenue by 20% immediately, and by 50% within two years.

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