News: JCT600 acquires Rotherham Gilder dealership
Bradford-based JCT600 has acquired Sheffield-based Gilder Group including its Volkswagen dealership in Wickersley, Rotherham.
The deal, for an undisclosed eight-figure sum, includes nine of its car and commercial vehicle dealerships, two parts depots and a body shop but outgoing CEO Garry Scotting will retain the Gilder Honda sites, including the dealership at Mushroom Garage in Rotherham.
Acquiring the £200m business takes JCT600 to a total of 50 dealerships. It also increases JCT600's workforce from 1,350 to over 1,800 with all jobs being retained. The deal will boost JCT600's annual turnover to over £850m.
John Tordoff, chief executive of JCT600, said: "This acquisition is another leap forward for us as a group, strengthening our coverage geographically and adding some more strong dealerships to the group. We are growing our workforce by a third, adding over 30 per cent to our revenues and taking on nine new dealerships, making this the biggest deal JCT600 has ever done.
"In 2009 we acquired York and Hull Audi from Gilder Group and so we know from that experience that we are buying a business with fantastic staff, loyal customers and high standards of care. Garry has built a solid, profitable business since he took control of The Gilder Group in 2002, and one that will dovetail perfectly with our existing operations and give us further economies of scale and increased buying power."
Garry Scotting, CEO of The Gilder Group, added: "The group will continue to have a presence in Sheffield as we have chosen to retain our three Gilder Honda sites. And, even though I am retiring from the business, I will retain shares in the group and support the Gilder Honda team to grow.
"The acquisition marks an end of an era for me, one of which I am extremely proud. My first interaction with Volkswagen and Audi came in 1980 at Gordon Lamb. After joining Gilders in 1985, I was able to further pursue my career with the brands and when I was given the opportunity of taking control of the group 11 years ago it was a business opportunity not to be missed."
The Gilder name dates back to 1912 but the Gilder Group Ltd was established as the new company name when Garry Scotting acquired the company from Peter Gilder in 2002. In 2011, the Gilder Group acquired Peter Brooks Honda for an undisclosed sum, taking the garage at Dalton. The group has been operating a Volkswagen dealership in Wickersley, Rotherham since 1999.
A team from Yorkshire law firm Gordons led by head of corporate James Fawcett advised JCT600. James Sparling of Lloyds Bank Commercial Banking and Peter Helliwell of HSBC worked closely with JCT600 to provide a funding package to support the acquisition and to refinance the new enlarged group in readiness for future expansion.
JCT600 website
Gilder Group website
Images: gildergroup.co.uk
The deal, for an undisclosed eight-figure sum, includes nine of its car and commercial vehicle dealerships, two parts depots and a body shop but outgoing CEO Garry Scotting will retain the Gilder Honda sites, including the dealership at Mushroom Garage in Rotherham.
Acquiring the £200m business takes JCT600 to a total of 50 dealerships. It also increases JCT600's workforce from 1,350 to over 1,800 with all jobs being retained. The deal will boost JCT600's annual turnover to over £850m.
John Tordoff, chief executive of JCT600, said: "This acquisition is another leap forward for us as a group, strengthening our coverage geographically and adding some more strong dealerships to the group. We are growing our workforce by a third, adding over 30 per cent to our revenues and taking on nine new dealerships, making this the biggest deal JCT600 has ever done.
"In 2009 we acquired York and Hull Audi from Gilder Group and so we know from that experience that we are buying a business with fantastic staff, loyal customers and high standards of care. Garry has built a solid, profitable business since he took control of The Gilder Group in 2002, and one that will dovetail perfectly with our existing operations and give us further economies of scale and increased buying power."
Garry Scotting, CEO of The Gilder Group, added: "The group will continue to have a presence in Sheffield as we have chosen to retain our three Gilder Honda sites. And, even though I am retiring from the business, I will retain shares in the group and support the Gilder Honda team to grow.
"The acquisition marks an end of an era for me, one of which I am extremely proud. My first interaction with Volkswagen and Audi came in 1980 at Gordon Lamb. After joining Gilders in 1985, I was able to further pursue my career with the brands and when I was given the opportunity of taking control of the group 11 years ago it was a business opportunity not to be missed."
The Gilder name dates back to 1912 but the Gilder Group Ltd was established as the new company name when Garry Scotting acquired the company from Peter Gilder in 2002. In 2011, the Gilder Group acquired Peter Brooks Honda for an undisclosed sum, taking the garage at Dalton. The group has been operating a Volkswagen dealership in Wickersley, Rotherham since 1999.
A team from Yorkshire law firm Gordons led by head of corporate James Fawcett advised JCT600. James Sparling of Lloyds Bank Commercial Banking and Peter Helliwell of HSBC worked closely with JCT600 to provide a funding package to support the acquisition and to refinance the new enlarged group in readiness for future expansion.
JCT600 website
Gilder Group website
Images: gildergroup.co.uk
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